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Buying Auto Insurance (Part 2 of 4)
Continued from Part 1- (Part 2 of 4) 11.Personal Injury Protection (PIP): Covers the treatment of injuries to the driver and passengers of the policyholder's vehicle. At its most extensive, PIP can cover medical payments, a part of the lost wages of...
Disability income insurance can meet all your financial needs
Disability income insurance can cover you in the event of a severe accident or illness but, it really depends on how much disability income insurance you purchase as to whether or not it will be able to meet all of your financial needs. The greatest...
Quick Facts on Disability Insurance
Quick Facts About Disability Insurance §The sole purpose of individual disability insurance is to replace your after-tax income in the event of an accident or illness. These policies do not provide protection from medical expenses or recovery of...
Short term health insurance
If you are between jobs or are awaiting another health insurance
policy to come into effect you may find that you have a gap in
your health insurance coverage. This period is a high risk as
you are effectively uninsured when it comes to health...
Travel Insurance - Insurance For The Over 65's
According to a survey published by Mintel, one in three pets
needs an unexpected visit to the vet each year. This means that
you are more likely to claim on your pet insurance than on a
home & contents policy or even your car insurance.
The...
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Life Insurance Settlements-Capitalizing On Your Policies
Unneeded or underperforming life insurance policy holdings? Ever thought or heard of a financial services valuation tool and strategy called life insurance settlements? Well, if not, the capital markets certainly have heard and taken notice. Life Insurance Settlement companies purchase unwanted or un-needed life insurance policies from individuals and ultimately collect the death benefits. These payments are passed on to third-party institutional investors who are looking for returns that are not correlated with
existing portfolios. A key component to this growth expectation is that business is conducted in a responsible manner. Poor sales practices by settlement firms could hamper growth and spark a new wave of litigation. At present, there is roughly $13 billion of total in force settlement business. While small compared to the $9 trillion of individual life business on the industry’s books, the settlement market has grown about eight times faster than non-traditional life insurance. This growth rate differential will continue and could expand over the next few decades, which will draw more attention to the settlement business and senior life settlement in particular.
Here is a description of the dynamics at work and a little background detail about process:
•A life insurance settlement is a transaction in which policyholders sell the rights to the death benefits associated with their insurance policies to third party settlement companies. In other words, this process in effect creates a secondary market for life insurance products – like life insurance settlements. The typical market for these products includes individuals over the
age of 65 with life expectancies of 4-10 years.
•A settlement firm, representing third-party investors, or better yet, an institutional funder, will provide a cash payment to the policyholder that exceeds the cash surrender value embedded in the policy. From that point on, the original policyholder will have no further involvement or association with the policy.
•The life settlement firm will continue to make premium payments on the policy to the life insurer, until a death benefit is claimed.
•The death benefit will be collected by the settlement company and passed on to third party investors, who are likely interested in returns that are not highly correlated with their other assets. (Source: Corporate reports and Bernstein Estimates)
A life insurance settlement, to summarize, is basically the sale of a life insurance policy at a price, higher than the cash surrender value. Many seniors are realizing the extraordinary benefits of unlocking the dormant asset value of life insurance, allowing them to better plan for their future through what is essentially newly-found money. Life insurance settlements are increasingly offering seniors viable options for their life insurance policies, and, as we are now seeing, more financial options can be rewarding indeed.
Life Insurance Settlement Experts
http://www.life-settlementco.com
About the Author
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.
Life insurance settlements
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