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Life Settlements have come onto the financial scene as a viable alternative in senior retirement planning. They have been used to raise investment capital, establish charitable foundations, finance annuities, finance securities, and eliminate high premium payments. They are becoming a tool to allow Seniors alternatives to traditional retirement planning. Life Settlements are an extremely useful tool to diversify your financial portfolio.
Traditionally, life insurance has not been a part of financial planning. Most financial planners did not factor life insurance as an investment, but as a necessity, or they were unaware that a product existed that could turn a negative investment like life insurance into a positive windfall of cash. That is what a Life Settlement does. It converts a dead-end policy into a financial gain that can act as a bonus to your establish investments and retirement situation.
When an insurance policy is purchased, it is under the assumption that the purchaser will not personally benefit from the invested premiums, but his/her beneficiaries will. The future prospect of return of the invested premium is the justification for funding an extremely expensive and negatively amortizing product like life insurance. However, Life Settlements have been created to help alleviate the burden of these policies when the needs, feasibility, or affordability of the policy has changed.
A Senior purchases a policy based on the expense of the premiums and the need for a certain amount of death benefit. However, in most cases, these needs change over time. Once upon a time, nothing could be done to recoup the loss of the premiums paid into a policy with nothing in return. Now, using Life Settlements, a senior can sell their existing policy to a life settlement funder and receive large percentage of the death benefit, or the policy's face amount, and use the money for anything they want. There is no restriction on how the funds can be used.
One of the most illiquid and static investments in the past, life insurance can be put into motion using Senior Life Settlements. Instead of continuing to pay for obsolete insurance or funding a policy that will not benefit anyone since your beneficiary has changed, Seniors can obtain Senior Life Settlements and receive the funds they have earned throughout their life, instead of giving their hard earned money right back to an insurance company that never expected them to need the policy in the first place.
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