Choosing to take a viatical settlement can be a challenging and emotional decision. When you or a loved one is diagnosed with a terminal illness, the last thing you want to think about is taxes. However, it’s important to understand the tax implications when using a...
What is a life insurance long-term care rider? A long-term care rider is a living benefit, a supplemental addition to your life insurance policy that provides financial protection by allowing you to access part of your life insurance policy’s death benefit on a...
In recent years, it’s become popular for individuals to sell their life insurance policy for a lump sum, referred to as a life settlement. Oftentimes, the terms life settlement and reverse life insurance are used interchangeably however, it’s important to know that...
Viatical settlements: A definition A viatical settlement is a way for those who are suffering from a terminal illness to sell their life insurance policy to a third party for a one-time lump sum. The payout is far more than the cash surrender value. This one time...
If you have a life insurance policy, you may be wondering if you’re able to sell it. Maybe you’re getting older or your finances have changed and you no longer want to make a monthly payment. Regardless of the reason, we’ve put together this comprehensive guide to...
