Vince Bazemore Guidelines

Author: Matthew Meyer
When you cash in your life insurance it is often called a Senior settlement, a Life Insurance Settlement or sometimes just an Insurance Settlement. The way it works is that you are trading the cash value (i.e. surrender value) of your policy to a third party for cash. This may happen even though the insurance policy does not have an actual surrender value. At times the cash you receive may be in excess of the cash surrender value of the life insurance policy.

This is usually done at or near retirement age in order to obtain additional cash for living expenses. Not only is cash received but the premiums you have been paying for the life insurance are no longer paid by you thus increasing your cash value.Basically this is a wealth and estate planning method.

In prior years seniors who had life insurance policies and felt that the premiums were a burden or that they no longer needed a life insurance policy just dropped the policy or turned it back to the life insurance company itself.But now they have an alternative.They can sell their insurance policy to someone other than the life insurance company.In this way they get much more cash.

Furthermore persons who take advantage of this method can use the money they receive for any purpose whatsoever although many people assume that such restrictions exist. In fact they can use the money for travel, buy another life insurance policy, purchase real estate, develop their hobbies,invest in a business venture. It is their money to dispose of as they wish.

The question now becomes: just how much money will you get from cashing in your life insurance policy? In most cases you will get about five times the cash surrender value of the life insurance policy. However other factors enter into the computation also.

Not all policies or people qualify for a Life Insurance Settlement. The restrictions are:

You must be at least 65 years old.
The policy itself or what is known as the cash value must be at least $50,000.00
The health of the holder of the policy must not be as good as it was when the life insurance policy was issued and his or her life expectancy must be under 15 years.
The life insurance policy must have been in effect longer than the probationary period.

Almost any type of life insurance policy is subject to being purchased. For instance: charities, individuals, trusts, term and group life insurance policies.

Author: Ske Chay
There are primarily two basic types of affordable life insurance or low-rate-life-insurance policies. They are the term and whole-life-insurance policies.

Term life insurance is more popular as this type of affordable life insurance policy is set to last for a specified time period. Policy payments are made periodically over this stretch of time. In the event of death, the next-of-kin of the assured can claim against the policy.

Many people choose a term-life-insurance policy and select a specific term that ends around the time that they retire. By then, there will not be a great need for insurance, as their house mortgage will probably be repaid. In addition, their children would have grown up and there is no need to make further provisions. As such, a term policy is the type of affordable life insurance that suits them better as coverage is provided during the years when there is a real need.

On the other hand, whole-life-insurance is designed to cover the assured until death. A whole life policy will be suitable for anyone who prefers to be protected for life, be it short, medium or long term. It is a saving instrument for you old age too. Some people also choose this kind of insurance to minimize family issues such as inheritance planning. In addition, there is a guarantee of payment with a whole life policy and beneficiaries have the assurance of getting some returns.

There are many affordable life insurance offers that will greatly benefit the family we love. To get good value for money on an your insurance cover, take some time out, shop around for quotations and make comparisons. Another way to get valuable information on insurance is to use the Internet. The majority of mainstream life-insurance-specialists offer the widest selection of life covers for people seeking out affordable life-insurance.

Pricing should not be the only consideration when selecting an insurance policy. The insurance company should be backed by years of excellent service and have a history of reliable and creditable records of accomplishment.

Having made comparisons amongst the different life-insurance companies, the length of the time period to make payments on the life-insurance policy should also be realistic. In addition, once the affordable life insurance policy has matured, the amount due should not be lesser than the periodic payments made. As this may be a substantial figure, it should be calculated carefully. Before signing up a insurance policy, always read the fine prints in the contract and find out more details if in doubt.

More benefits will be derived from an affordable life insurance policy if the amount due is to be received in one large payment. In addition to inheritance planning, the lump sum payment will provide more convenience to the beneficiaries. In most countries, life-insurance-policies are also given favorable tax benefits.

An affordable life insurance or a low-rate-life-insurance policy may not directly benefit the assured but he can rest assured that his loved ones and the stated beneficiaries of the policy will be well taken care of financially, even when he is no longer around.

Author: Joe Stewart
Life insurance is a topic that’s incredibly confusing for many people. There are many terms and provisions to learn and understand before purchasing a policy and most people aren’t certain what type of policy or how much insurance coverage they actually need. Another worry is that many people are also aware that the person selling them their policy is also a commissioned salesperson. Although most insurance agents have a squeaky clean record of dealing with the public in a professional and ethical manner, there’s really no way for you, the consumer to know this at first contact or introduction.

When purchasing anything, it’s best to get familiar with that item before you spend your hard earned money, whether you need it or not. Think about it, if you were buying a new car, and were considering a make or model that you’d never owned before, wouldn’t you want to find out everything that you could about that vehicle before you went to see a (gulp) salesperson?

You’d want to see how spacious and comfortable it is, check the colors available, see how many miles per gallon it got and more before you made a buying decision.

Purchasing life insurance is no different than buying a vehicle or any other item. You want to find out all that you can about it before you open your wallet or purse. Here are descriptions of the two most common types of Whole life insurance designed for consumers.

Whole Life Insurance - Whole life is also known as “Straight Life” and is designed to do exactly what it says, that is, cover you for your “whole life” or up until you reach the age of 100 years old. Whole Life policies pay what is known as the “Face Value” either upon the death of the insured or when the insured person reaches 100 years. Face Value is the amount that the policy is for, example, a $100,000.00 policy has a Face Value of $100,000.00.

There are two different types of Whole Life Insurance that are most common. Those are called Limited Payment Plans and Continuous Premium Whole Life.

Limited Payment Whole Life means that you would want to pay off the policy early. For example, you could set up a policy called “20-Pay Life” where you would pay off the policy over a twenty year period. In the end, you’ll pay the same amount of premium as with the Continuous Payment Whole Life, but your policy will accrue a “Cash Value” much faster. This Cash Value will be smaller than the policy Face Value after you’ve initially finished the payments, but it will grow rapidly afterword. You can take loans against this Cash Value if you wish, but they must be repaid.

As with other types of Whole Life insurance, part of your premiums paid will go to purchase insurance and the remainder will go toward Cash Value.

The other most common type of Whole Life insurance is called Continuous Premium Whole Life. With a Continuous Premium Whole Life policy, you pay out the premiums over your Whole Life or until age 100, as explained above.

Cash Value builds slower in this insurance policy, compared to the Twenty Pay Life plan, however, the premiums are much lower and you may still take out a loan, if needed, against your Cash Value accrued.