When delving deeper into the market-driven research on the myriads of reasons, motivations, and/or rationales for senior life settlements - seniors selling their life insurance policies have surfaced in recent years. According to studies by key industry players, policyholder rationales for selling life policies are to be identified on one of three levels, due to a combination of them OR influencers from all three levels working together to result in senior life settlement transactions:

Individual: cash-need for major expenses, outlived need for coverage, needing different coverage or features, financial distress

Family / Estate: Change in beneficiaries (e.g., divorce, death of dependents), Second-to-die policyholder (i.e., spouse) has passed away, material change in the value of estate

Business: Change in key executives / partners, change in succession plan (e.g., family business) or needing cash / seeking to monetize assets

(Source: Bernstein Research Call, Sanford C. Bernstein & Co., LLC, a subsidiary of Alliance Capital Management, 2005)

Other sources (Milestone Settlements, 2004) confirm that senior life settlements appeal as solutions to individuals most likely to consider a life settlement, because they, for one reason or another, no longer need the insurance they purchased. A number of reasons may include:

* Seniors whom have insurance and/or estate needs that have changed, making their current policy(s) inadequate or exceedingly adequate for their current or future needs

* Seniors who are not satisfied with the performance of the insurance product(s) they have chosen, or are aware of newer, better performing insurance products

* Seniors who choose to realize the value of their policy(s) now, rather than continuing to pay on a policy they will never receive the benefits of

* Individuals, or owners of a company, who own key man policies that are no longer needed, or elect to use the sale of the policy(s) to enhance a buy-out or create severance packages

* Seniors who wish to live out the remaining years of life without a change in lifestyle

* Individuals who need capital to pay for medical treatments or procedures

* Any senior who realizes that there is now a greater tangible asset value to their life insurance policy, and wishes to take advantage of this added value

A cautionary note seems appropriate here. Senior Life Settlements is definitely not territory to approach without the advice and assistance, counsel and due diligence of a well-versed, experienced player in this secondary market. A financial advisor with exposure and experience could advise you and assist you in become aware of any tax liabilities you may face should you sell your policy. Most times a life settlement is taxed on the income above and beyond the basis (what you’ve paid into your policy to date) of your policy. Each senior life settlement case is different and if seems prudent to have a consultation with a tax advisor or your financial planner prior to proceeding down the path of Senior Life Settlements.

Peachtree Life Settlements
Life Settlement Experts

Jon Thomas has been involved in finance and insurance,
specializing in emerging growth markets since 1979. He continues to write articles concerning the public and their pressing financial concerns.

Insurance, senior life settlements, senior settlement, Senior Settlements

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Planning for your future life can seem like a time consuming burden when you have a young family. After all, where do you find the time in your life to think about things like life assurance while you’re struggling to keep work and home life pressures in check? Our departure from this life though cannot be predicted. You and your partner may live a good life to a ripe old age, or you could pass away tomorrow. If the worst were to happen to you, where would that leave your partner and your dependants? Would they be financially secure for the rest of their life after their loss and not have to worry about paying the mortgage? If not, then a life assurance policy is a must.

Life assurance for life and death

Life assurance, also known as life insurance, is an assurance policy that pays out a lump sum to a named person(s) in the event of your death. This type of assurance policy is inexpensive to maintain, assurance premiums being very low if you take up the assurance policy early in life. Depending on the nature of the assurance policy you may pay assurance premiums up until the end of your life or up until a specified age.

You can also format your assurance policy as a single life policy or as a joint life policy. For married couples with a mortgage and/or dependants, a joint life policy is often the preferred type of assurance to opt for as the assurance policy has the flexibility to pay out on first death or second death. An assurance policy that pays out on first death is beneficial for those carrying a mortgage and where the deceased’s life partner and/or dependants are still alive.

Types of life assurance policies

When considering buying into a life policy you’ll find three basic types of assurance policy available from assurance companies - term assurance, family income assurance and whole life assurance.

Term assurance - Term assurance is a straightforward life policy that pays out a tax-free lump sum upon your death. This is a basic life policy that runs to a specified term, often coinciding with the life of a mortgage.

Family income assurance - This life policy is a set term assurance policy that pays out to dependants should you die during the term of the assurance policy. Pay out is on a regular basis (like an income) until full term of the assurance is reached.

Whole life policy assurance - This is an open-ended assurance policy that pays out a lump sum upon your death, regardless of when you depart this life.

About The Author
Gary Tallon is a finance writer of over ten years experience and is currently working in the life insurance http://www.insurance-shop.com sector with Insurance-Shop.com.

assurance policy, Insurance, life policy, term assurance

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When you choose to travel, you take the risk of lost luggage, flight cancellations, reservation cancellations, theft and many other situations which may cause anxiety. Planning a vacation is stressful enough without having to worry about something going horribly wrong. Purchasing travel insurance will ensure that you are compensated if anything goes wrong on your trip. When trying to determine whether or not to purchase travel insurance, keep in mind the points listed below which may make your decision much easier.

Many forms of travel insurance will cover you in the following areas:

1. Medical Emergencies - Travel insurance will provide you with financial help should you encounter a medical emergency while traveling. If you become ill or are injured while on vacation, your travel insurance will provide you coverage in both situations.

2. Cancellations or Delays - If for any reason (beyond your control) your trip is cancelled or delayed your travel insurance will provide you with financial coverage. This includes coverage if your airline goes bankrupt or out of service. Your travel insurance will either compensate you for the money you lost or provide you with new means of transportation.

3. Theft - If anything belonging to you is stolen while you are on vacation, your travel insurance will provide you with financial assistance to replace the items which were stolen.

4. Damage or Loss of Personal Property - This is likely to happen while on vacation. If your luggage is lost or damaged while on vacation, your travel insurance will definitely cover at least some percentage of the property that is missing. Depending on the insurance plan, it may financially cover all the items that are missing.

5. Lost Passport - If you lose your passport or it is stolen while you are on vacation, travel insurance will provide you with the means to get a temporary one. Your travel insurance company will inform you on how to get in contact with your country embassy so that you can arrange to receive a temporary passport.

Depending on the insurance plan you choose, you may be fully or partially covered in the areas listed above. Choose your policy according to what you think the possibility will be that you will require the assistance on your trip.

For many vacationers, travel insurance eliminates any worry that an unforeseen circumstance may arise in which you do not have the money or means to take care of.

Travel insurance helps you relax and enjoy your trip without agonizing over things that may or may not go wrong. Relaxing and enjoying? Isn’t that why you planned the vacation in the first place?

Bill Mason is a retired insurance agent who now writes as a freelance writer for insuranceguide101.com - a site that offers information on RV insurance, renters insurance, long term care information and more.

Insurance, Life, term

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