Posts Tagged ‘senior money matters’

What you need to know about Reverse Mortgages

Posted on October 7, 2009 under , , ,

A reverse mortgage is a loan that is generally intended for seniors who need to supplement their Social Security or retirement savings. The loan is offered only to seniors who own their home outright or who have a low enough mortgage balance to repay their mortgage using the funds from the loan. The loan is paid as a line of credit, ensuring that the borrower can take funds as needed or it can be paid with scheduled payments as long as the funds remain available. The funds borrowed can never exceed the equity of your home.

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Do you need more life insurance?

Posted on October 5, 2009 under ,

When you choose a life insurance policy, you will have many different options available to you depending on your age and health. A term policy covers you only for a certain time period, while standard policies are in effect for the remainder of your life. The premiums that will need to be paid rely on a variety of factors, and many policies offer payouts based on age and the amount of time that the policy has been active. The simple truth is that a life insurance policy is very important and that every senior should have one. In fact, it is recommended that all working people carry them as well.

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Protect Yourself with a Power of Attorney

Posted on October 1, 2009 under ,

Whether you entrust a loved one or a third party with your finances, there seems to be a large risk of having your finds mismanaged or even stolen. The good news is that there are steps you can take to prevent this. Even if you are entrusting a loved one with your money, setting limitations on the power of attorney is a prudent decision.

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Recommended Life Settlement Articles

Major Publications on “Life Settlements”

When my partners and I first created the Life Settlement Network, and were becoming increasingly involved in the Life Settlement industry, our friends and family had never heard of life settlements.  For the most part, they learned about this new financial tool from us.  Initially – most had responses something along the lines of “Sounds [...]

What is my policy worth?

Usually the first question seniors ask after hearing that their life insurance policy may be worth much more than the cash surrender value is “How much is my policy worth?”
The calculation is simple enough:  Determine the insured’s life expectancy and multiply that by the annual premiums to estimate the expected cost of maintaining the policy.  [...]

If my policy is worth so much – why should I sell in a life settlement?

A question that comes up frequently in presentations and in discussions with policyholders and beneficiaries: If an investor is willing to buy my policy for $X amount and expect to make a profit – why shouldn’t the family just keep the policy?