Selling Your Life Insurance (Viaticals and Life Settlements)
If you have life insurance, you're in a position to help someone else afford a big expense. For example, if your insurance company offers viaticals--a type of life insurance contract that lets you borrow against the death benefit--your money may be able to help with medical bills for someone who needs it. Paired with these types of products are life settlements and annuities, often available only from an independent agent or broker who specializes in them. These might sound daunting but they can offer huge pay-offs for families in need.
What You Need To Know
In the simplest terms, a life insurance policy becomes worth more when you die with more debt than you have savings. Some policies are worth more than others. This is why life settlements and annuities, like viaticals, are available only from an agent who specializes in these products. The agent talks to your family and calculates what your policy might be worth in a sale. He or she also works with clients who want to buy your policy. If your family uses the money for medical bills, then they make their money back and even get some extra as profit. If they don't need the money for medical bills, they can invest it or put it toward retirement.
What To Do About Your Insurance
Leverage the life insurance you already have to help pay for someone else's medical expenses. You can sell life insurance and/or borrow against it to help pay bills or save for retirement. Since most life settlement and annuity products are only available from a licensed agent, your agent will help you decide if these are right for you.
Selling Your Life Insurance (Viaticals and Life Settlements) [ARTICLE END]
"The "Independent Guide To Selling Life Insurance and Annuities" is written from the author's unique vision of what it means to be an independent agent who sells viaticals, life settlements and annuities. It is written from a "one man, one agency" perspective – that of a small, independent agency owner who is able to provide alternative methods of creating value for life insurance companies.
The Independent Guide to Selling Life Insurance and Annuities is a practical and insightful guide to the world in which we live. It offers readers the knowledge they need in order to sell life insurance and annuities in a way that caters to the needs of both buyers and sellers. Readers will learn why viaticals, life settlements and annuities are becoming increasingly popular alternatives for helping clients deal with their own financial issues, as well as for recovering assets for their families when an adult child passes away.
This book offers an inside view of the business of transaction-based life insurance and annuities. It covers everything from how to effectively market to the life insurance company, all the way through to wiring your proceeds from the sale or annuity. The book also goes beyond the world of transaction-based business by revealing: How to better understand clients who are dealing with terminal illness; Financial planning for those with disabilities;
It also shows readers how to avoid common pitfalls of alternative distributions, such as costly and lengthy IRS assessment processes or paying taxes twice.
"The Independent Guide To Selling Life Insurance and Annuities " is a must-read for anyone interested in the field of life insurance or annuities. It is also ideal for those who want to learn more about alternative methods and sources of funding that can be used to help family members overcome medical expenses, as well as gain access to capital for future investments.
"The Independent Guide To Selling Life Insurance and Annuities" is now available in paperback version, and is available for purchase on Amazon.com, Barnes & Noble, and Author House."
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^ "Ability Corporation" - https://micheleinbruno88003392@blogspot.co m - 23 September 2015 - Life Settlement and Annuity Benefits...
Conclusion
The life insurance industry has always been a way for people to leave a legacy for their next of kin. Insurance companies are much like any other business - they want to continue making money, and so adjust their policies to this end. However, the amount of money that an individual can be paid in this industry (or annuities in the case of life settlements) may not be sufficient with which to cover all of his family's expenses. This is when the seller's agent brings his expertise into play, and helps them choose a suitable insurance product and method.