Скачать с ютуб Selling a Life Insurance Policy—Interview with Mark Mrky of Life Settlements в хорошем качестве

Selling a Life Insurance Policy—Interview with Mark Mrky of Life Settlements

A life settlement—AKA selling life insurance policy or policies—can serve as a valuable extra lump sum of cash for your retirement! Many don’t realize that their life insurance policy can be sold and used as an asset at their disposal. Mark Mrky, a managing member of Life Insurance Settlements, Inc., joins the Wealth Summit to discuss the life settlement industry, an industry that has the potential to provide value to you and your family. KEY POINTS -What is a life settlement? -How is it different from a viatical? -What type of policies qualify? -Who’s a good candidate for a life settlement? -Selling life insurance policy A life settlement is when a senior (65+) sells their life insurance policy they no longer want, need, or afford to a 3rd party, typically a financial institution such as a hedge fund or pension fund. Mark’s job is to make sure there is current value in the policy, and then sell it to the highest bidder. Policyholders often get 7 times the current surrender value of the policy in a life settlement. The life settlement industry is a product of the viatical industry of the 80s and 90s. A viatical settlement is when an insurer with a life expectancy of under 24 months sells their insurance policy, unlike a life settlement which is typically 2-20 years in length. While most life settlement buyers are looking for a universal life policy, all life insurance policies qualify to be sold. The second most popular is a term policy, which most people think has no value. If your policy is still convertible and you’re coming up on the age it has to be converted, a life settlement might be a good option. Once a policy is converted to a permanent product, the premiums skyrocket. If you’re at an age or level of health where that doesn’t make sense, consider a life settlement. Factors including health, personal, and financial determine if you qualify for a life settlement, assuming you’re over the age of 65. Buyers look at the cost of the insurance policy going forward, your life expectancy, and a sub-20 year threshold. Clients may want to consider a life insurance settlement in the case of an underperforming universal life policy, bankruptcy or divorce, own a business, or the death of a spouse. The influx of cash can alleviate temporary financial troubles. While the government does get their cut, you only pay long-term capital gains tax. If you’re over the age of 65, experiencing declining health or extenuating financial circumstances, consider a life settlement. Regardless of the policy you own, there’s plenty of buyers willing to take ownership of your policy. The process is simple and an excellent way to add a lump sum of cash to your financial portfolio. Consider selling a life insurance policy if you have one you no longer need for some extra retirement income and spending cash!