Senior Life Settlements-A New Financial Dawn Emerges

Written by Jon Thomas


When delving deeper intorepparttar market-driven research onrepparttar 145743 myriads of reasons, motivations, and/or rationales for senior life settlements – seniors selling their life insurance policies have surfaced in recent years. According to studies by key industry players, policyholder rationales for selling life policies are to be identified on one of three levels, due to a combination of them OR influencers from all three levels working together to result in senior life settlement transactions:

Individual: cash-need for major expenses, outlived need for coverage, needing different coverage or features, financial distress

Family / Estate: Change in beneficiaries (e.g., divorce, death of dependents), Second-to-die policyholder (i.e., spouse) has passed away, material change inrepparttar 145744 value of estate

Business: Change in key executives / partners, change in succession plan (e.g., family business) or needing cash / seeking to monetize assets

(Source: Bernstein Research Call, Sanford C. Bernstein & Co., LLC, a subsidiary of Alliance Capital Management, 2005)

Other sources (Milestone Settlements, 2004) confirm that senior life settlements appeal as solutions to individuals most likely to consider a life settlement, because they, for one reason or another, no longer needrepparttar 145745 insurance they purchased. A number of reasons may include:

•Seniors whom have insurance and/or estate needs that have changed, making their current policy(s) inadequate or exceedingly adequate for their current or future needs •Seniors who are not satisfied withrepparttar 145746 performance ofrepparttar 145747 insurance product(s) they have chosen, or are aware of newer, better performing insurance products •Seniors who choose to realizerepparttar 145748 value of their policy(s) now, rather than continuing to pay on a policy they will never receiverepparttar 145749 benefits of •Individuals, or owners of a company, who own key man policies that are no longer needed, or elect to userepparttar 145750 sale ofrepparttar 145751 policy(s) to enhance a buy-out or create severance packages •Seniors who wish to live outrepparttar 145752 remaining years of life without a change in lifestyle •Individuals who need capital to pay for medical treatments or procedures •Any senior who realizes that there is now a greater tangible asset value to their life insurance policy, and wishes to take advantage of this added value

Different Ways to Borrow Money

Written by John Mussi


There are many different ways to borrow money. Outlined below is a useful guide to some of most common ways of borrowing money.

Loans

There are many loan companies offering to lend you money. They will check your credit worthiness and may offer you a secured loan or an unsecured loan.

A secured loan means that you undertake to giverepparttar lender property you own if you do not keep uprepparttar 145742 repayments. In return, you usually get a lower APR and longer repayment period. An unsecured loan costs more in repayments but does not carry allrepparttar 145743 risks of a secured loan.

Overdrafts

Your bank might allow you to overdraw - that is, borrow fromrepparttar 145744 bank by taking out more money than you currently have in your account.

You will be charged interest on your overdraft and possibly a fee as well. If you go overrepparttar 145745 overdraft limit set byrepparttar 145746 bank, you will have to pay a lot more.

Check whatrepparttar 145747 bank charges for overdrafts and try hard not to go over your limit. If you do need to borrow and cannot repayrepparttar 145748 amount very quickly, you might be better off with a bank loan.

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