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Is a life settlement right for me?

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Before you can determine what type of policy to purchase for yourself, you need to know the details about insurance policies, the price of purchasing one, how to sell one to make money, and the premiums required to pay for the insured person’s policy. 

What is a life settlement?

Before you can get a life settlement, you need to know what it is and who it can benefit from. A life settlement is the sale of a life insurance policy to a third party. Oftentimes, this sale means the third party will earn more money than the cash value of the settlement and life insurance policy.

The cash surrender value, which is the price of the life insurance policy, is the cash amount offered to the owner of the policy by the life carrier. When someone cancels a life insurance policy, they will obtain the cash surrender value when the contract is canceled. The owner of the policy will get the cash value of the policy within the life insurance contract.

However, if the third party earns the life insurance policy value, the amount is more than the cash surrender value when discussing life settlements. Therefore, a life settlement is a better payout for the third-party investor than the cash value would be to the policy owner. 

It sounds confusing, but basically, a life settlement is the process of the third-party investor earning more on the life insurance policy than the policy owner. The investor who takes over the existing life insurance policy is then responsible for any payments required to continue the life insurance payments, such as the premiums. However, the payout includes the death benefit when the previous owner of the policy or the insured dies. This means that when the person the life insurance related to dies, the investor will get the death benefits and the life settlement.

What if the investor sells the life insurance policy? Although a big payout is available in the end, the third party investor can sell if they can no longer keep up with expensive premiums attached to the life insurance policy, they do not want the policy, or they do not have the extra cash to continue paying. If they need to save money for other aspects of their life, you will typically find the third-party investor selling the life insurance policy prematurely before the insured passes away.

If the investor wants to sell the life insurance policy, there are a few things to keep in mind before selling (or buying in the reverse instance). The third-party needs to consider the life expectancy of the person insured, the cost of premiums, the payout, the risk of policy expiring, and the discount rate. 

Typically, if investors find the life expectancy of the insured is very low and less than a few months or a few years, they will keep the policy since the premiums will not be continuing for a long time and they will get a payout in the end. However, they have to take into account the cost of future premiums before making their decision, as they might not be able to afford the premium costs for many more months or years.

Furthermore, the third party must consider the payout. Will the money they make than the insured die worth the premium payments and the effort? If the answer is no, they will typically sell the life insurance policy and avoid having to pay any more premium in the future.

What is a life settlement? Who purchases a life settlement? In 2020, there were just over 3,200 life settlement policies purchased during the year, with a total payout of around $4.6 billion. In 2019, the number was lower, with just 2,700 policies purchased for around $4.4 billion. Unfortunately, over 10 million life insurance policies lapse per year, meaning the third party investor does not get the money, they do not pay the premiums, and the policy goes to waste. 

Trends in life settlements

When asking yourself what is a life settlement, you need to take into account trends that can occur in this industry. The first trend is the rise of investors. Many huge corporations invest in life settlements policies, such as Vida Capital. Since they invest such a massive amount of money in the life settlement policies, such as over one billion in assets, they will have a huge payout in the end. 

The second key aspect of life settlements is the direct-to-consumer initiative that focuses more on the consumer than other third parties. Instead of huge corporations or third-party people getting involved in the process, the consumer initiative helps reduce the amount paid to policy owners and focuses on a higher payout for the buyers of the policies themselves.

The final trend of life settlements is the change in medical underwriting which helps avoid losses in the industry. The change in the underwriting process has helped people avoid losing thousands, or millions, of dollars, due to the clear data and inclusion of statistics. 

What to consider before selling a life insurance policy

If you answered what is a life settlement, you might be wondering if you should sell your insurance policy. However, this process depends on various factors, such as the following:

  • Life insurance needs – if you want to purchase a new life insurance policy to get a life settlement, you need to figure out the amount of coverage you require and how expensive it will be. Your old policy can sometimes help you get more coverage for your new policy. However, keep in mind the premium costs can skyrocket due to age changes or health alterations.
  • Less costly options – the second factor to take into account is just getting a less pricey alternative to your current policy. Instead of selling your policy to get quick cash, switch your policy to a cheaper option so you can spend less per month.
  • Impact on your financial state – the final aspect to take into account when deciding whether to keep or sell your life insurance policy is the impact it will have on your financial state. Before you get a life settlement, make sure you understand how this can influence your finances.

Conclusion

If you’re asking yourself what a life settlement is, you are not alone. This process can be complicated and confusing but can end up giving large amounts of money to the third party investor at the end. However, make sure you completely understand the process of getting and selling life insurance policies before discussing a life settlement. 

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What to Know Before Selling Your House

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Selling your home can be tedious, emotionally challenging and time-consuming, primarily if you’ve never sold a house before. It might feel like your privacy is being invaded at times because you’ll have to welcome strangers coming to view your house. They will open your cabinets and closets, poke around, and openly criticize your treasured house. They will offer to give you less money than what you have in mind to top it up.  

Important things to remember before selling your house

Focus on the business aspect and ensure that your emotions are in check.

Hiring a real estate agent can be expensive, but it makes the selling process more manageable and stress-free.

If you don’t want to hire a real estate agent, do a market research and set a reasonable price.

Prepare thoroughly for the sale, don’t give skimpy details in your advertisement, or disclose any problems with the property.

Other things you need to know before selling your house include:

Failing to accommodate buyers

You must be accommodating to people coming to view the house, even if you feel inconvenienced. Additionally, you must tidy and clean your house before any visit; it’s tedious, but you must focus on the prize. 

Dealing with unqualified buyers

It’s reasonable to assume that a potential buyer will bring a document from his mortgage lender or POF (proof of funds) for cash purchases showing that they have enough cash to buy your house. Signing a contract with buyers depends on the sale of their house or property, which can put you in a bind if you want to close your house sale on a specific date

Choose a favorable time to put your house on sale.

Selling a house during winter can be very difficult. People are engaged with social activities, and the cold winter climate makes people stay indoors. Since few buyers will be viewing your house, it could take longer before you can get a buyer, and you could sell your house at a lower price. However, selling your house in winter could work in your favor since there won’t be many houses put on sale. 

Not having proper insurance

It’s essential to get insurance cover for your house in case a buyer gets an accident in your home and sues you for damages. Always ensure that you remove any hazards from your house or that you mitigate them. For instance, keeping the potential buyers’ children away from your swimming pool prevents possible drowning. 

Listing photos

Many potential buyers look for houses online nowadays; most of the advertised houses have photos, so you’ll be at a disadvantage if you don’t include your houses’ visuals. Ensure that you use professionally captured house photos to get more interest and set your advertisement apart. These photos should be clear and crisp and taken when there’s enough natural light during the day. You can go the extra mile and add a video tour of your house to enhance your advertisement. 

With no experience and an emotional and complex deal on your hands, it’s easy to make many mistakes when selling your house. However, you can avoid making mistakes when selling your house without becoming too stressed with a little information.

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Why‌ ‌Piano‌ ‌Is‌ ‌Better‌ ‌Than‌ ‌Guitar‌

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It’s the same old question- eliciting mixed reactions and heated debates each time it comes up. A battle of the ages, a fight for supremacy. Guitar adherents will hear none of this debate. They believe such a question doesnt need to be asked because the answer is so apparent. 

On the other corner, Piano enthusiasts are adamant there can never be comparisons as to which is better between the two. 

Piano and guitar are similar. Both of them belong to the strings family. 

I know it’s easy to spot the strings in a guitar, but a piano indeed looks like it has keys. 

What do you think is the most played instrument?

I know you will answer this depending on your love for any of the two. While there is a belief among many people that the guitar is the most used instrument, the opposite is true. The piano is still the most played instrument.

However, they remain the most popular instruments in the music industry. 

Arguments aside, we want to put this unending old age debate to rest. The battle of instruments, going back for as long as many decades, begin now. 

The Piano

At ten years, you’d probably be playing the same note over and over, just trying to find the melody. You can rarely think of looking up the scales and finding the desired notes at such a young age. 

A piano has more of a classical feel. The moment you learn how to play those keys, your mind explodes to a new colour, the colour of fine music. There are rules, however, to playing the piano. And these rules are unwritten. 

Strange?

The piano has a more refined sound as compared to the guitar. In all aspects, the piano comes out as a complete instrument. 

And by being complete, here is what I mean:

You can play harmony, melody and rhythm using the piano without actually feeling strange about it. We could say that as compared to other instruments, the piano is more independent and more convenient. 

The Guitar

Unlike the piano, which meeds no voice complement, a guitar will require a voice accompaniment most of the time. 

When playing your guitar, strumming alone can sound like there’s more to be added. I mean, it sounds pretty empty. 

It’s possible to play melody harmony and rhythm on your guitar at the same time. But even that needs top-notch skills, which many people might not have. 

For most people, the drive behind playing the guitar is because it looks cool playing it using the fingers. Beyond that, it’s tedious laying the guitar, and it requires other additional support to produce lyrical music. 

Why Is the Piano better than the guitar?

Here Is the thing:

A piano has the black notes that make up for the oriental music. A guitar doesn’t have the notes. 

There are no broken strings in a piano. Maybe the broken hearts of millions of your followers and admirers who keep fawning over your classical music. 

You have many octaves to choose from when playing the piano. The same is false for a guitar. 

In Summary;

Both the piano and guitar have an excellent range and can all play lows, mids and highs. However, a piano still has vital additional features that make playing it quire easy and fun. Having read through the article, would you consider enrolling your kid for a piano class?

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Save Money Flying, Even While Ticket Prices Rise

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Save Money Flying

It’s impossible to talk about how COVID-19 has impacted the airline industry in the space of a single article because the topic is very complex. You’d need to look at how bailouts and government subsidies have helped stave off bankruptcy but also examine how a precipitous drop in demand has affected sales.

Like with nearly everything else, airlines have faced turmoil during the pandemic, and after plunging for months, the cost of tickets is beginning to rise again. Here are a few tips to help you offset these price increases by saving elsewhere in your journey.

Drive Yourself

People used to assume that it was nearly impossible to drive themselves to the airport because the price of parking was prohibitively high. Now, you can drive your own car to the airport and leave it at the park and Fly Montreal or beside your terminal in many North American airports for a fraction of the cost.

The great thing is you don’t need to have a room booked at the nearby hotel to use their parking lot. Just reserve your spot online, show the booking to the attendant, then hop on the free shuttle to your terminal. Enjoy the familiarity of your own car, and leave on your own time, rather than wait for a cab to arrive at your door or a dot to appear on your screen.

Pack Your Own Food

Airport food is better than it used to be, but the prices are high because people don’t have a host of other eating options after they’ve checked through security. It pays to bring your own food from home to eat before or even during your flight.

You can choose your favourite snacks or meals, controlling for portion size, nutritional levels, and any allergies. It’s a good idea to bring something that’s easy to eat neatly in a crowd, like a sandwich, wrap, or salad in a container.

Pack Strategically

Today, some airlines charge extra fees for checking in bags. You can avoid this by simply not checking in any bags!

Try to fit all you’ll need for the trip into two bags that you know can be stored in the overhead compartment. Then, not only will you save money, but you won’t have to wait to retrieve your bag at the luggage carousel upon landing, you can simply leave the airport and head for your destination.

However, some items need to be checked in because they aren’t allowed on the plane, like a Swiss Army Knife. Either don’t bring a prohibited item on your trip or don’t forget to check it in, because otherwise it could be confiscated.

It’s a great thing that the vaccine rollout is allowing safe travel again, but no doubt flying won’t be exactly as you remember it pre-pandemic, especially the prices. Keep the above tips in mind to save money elsewhere on your journey, so you can travel, do business, and see friends and family without breaking the bank.

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Appliance Repairs Trust the Professionals

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Appliance repair

As a homeowner, there are many problems that you may encounter with your appliances. You might not be able to get the right temperature on your dryer, find it difficult to make the bed with your brand new mattress or have trouble getting your dishwasher to work properly. Appliance repair companies will come to your home and make necessary adjustments without any cost!

Some common problems that most people experience with their appliances are:

The dryer is taking too long to dry the clothes/dryer is not working at all

The repairman may have to replace a part in order for it to work, but sometimes there’s excess lint in the dryer which can make it take longer to dry your clothes.

Another possibility is that your dryer vent duct is not working properly. This needs to be cleaned regularly in order for the dryer exhaust to work correctly!

Homeowners are often faced with problems that need to be fixed around the house

As a homeowner, there are many problems that you may encounter with your appliances. You might not be able to get the right temperature on your dryer, find it difficult to make the bed with your brand new mattress, or have trouble getting your dishwasher to work correctly. Appliance repair companies will come to your home and make necessary adjustments without any cost!

Don’t let these common problems intimidate you. Here are some solutions to these and other common appliance-related issues:

Dryers may not be heating as efficiently as they should, especially if the dryer is taking twice as long as usual to dry clothes. In this case, your best bet would be to call an appliance repair company for assistance.

Dryers may also heat inconsistently, making your clothes hotter at one end than the other. An appliance repair company will either adjust the air intake or the thermostat to help with this problem.

Appliance repair companies will come to your home and make necessary adjustments without any cost!

Appliances that aren’t working properly can be extremely frustrating. If you find yourself in need of a quick fix for any of these or other appliances, the best course of action is to turn to appliance repair companies as soon as possible to prevent future problems from happening. Appliance repair professionals will come to your home to make the necessary repairs and do so without charging you a penny. You can find appliance repair professionals by checking out their websites or doing an Internet search for local companies.

Hire Appliance Repair Professionals

If you find yourself in need of a quick fix for any of these or other appliances, the best course of action is to turn to appliance repair professionals as soon as possible to prevent future problems from happening. Appliance repair professionals will come to your home and make necessary repairs without charging you a penny. You can find appliance repair professionals by checking out their websites or doing an Internet search for local companies.

Appliance repair companies will come to your home and make necessary adjustments without any cost!

Conclusion:

Appliance repairs are a great resource for when you need to make changes or adjustments to your appliances. Appliances that aren’t working properly can be extremely frustrating, but with the help of appliance repair professionals, they don’t have to stay this way! The best course of action is always going to be turning to an appliance repair professional as soon as possible in order to prevent future problems from happening. You can find these professionals by checking out their websites and doing an Internet search for local companies near you who provide the services. With all things considered, it’s worth investing in appliance repairs because if not dealt with promptly, small issues may become larger ones down the line which will require more extensive work done at a higher cost. Let us know how appliance repair is a great resource you can turn to if you find yourself in need of a quick fix.

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Common Reasons for Getting a Quick Loan

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Commercial Loans

A quick loan is usually issued within a short amount of time and doesn’t include a rigorous approval process. It is commonly sought out by people who need to secure personal financing fast. Because the funding is not allocated for a specific purpose, you can use it for pretty much anything you want. So, why do people get them? Let’s look at some scenarios where a quick loan makes sense.

1. Emergency Expenses

Quick loans are disbursed very quickly, which makes them ideal for emergencies. According to a study on emergency savings by LendingTree, only 48 percent of people in the US can handle an emergency worth $1,000 through their savings. This means that many people would find themselves in a tough spot if, say, they had to plan an unforeseen funeral.

Unexpected expenses can arise from anywhere. Some emergency reasons for which you might make you get a loan quickly include:• Medical expenses• Auto repairs• Losing your job

A quick loan could come in handy in such situations because it would allow you to handle your emergency then repay the amount with time.

2. Personal Events

Personal events like graduations, weddings, and baby showers are near impossible to postpone, but they can put a dent in your savings. In 2019, The Knot reported that the average cost of a wedding was $28,000. Obviously, not very many couples can get their hands on this kind of money immediately.

If you are planning an event and don’t want to dip into your emergency fund or deplete your savings account, you can apply for a quick loan to cover the costs. Ultimately, you get to have the day of your dreams then pay off the amount later in affordable installments.

3. Home Remodeling

As a homeowner, you can use a quick personal loan to upgrade your home or make necessary repairs like redoing the wiring or replacing the roof. This is an excellent funding option, especially if you don’thave equity in your home and don’t want to use it as collateral. It is also an effective way to handle maintenance problems that could harm your health and safety.

Before borrowing a quick loan for home remodeling, it is important to determine whether the repairs you wish to make need immediate attention. You could apply for funding to fix:• Blocked pipe• Gas leaks• Broken air conditioning or heating systems

4. Financing a Car

A quick loan is one of the best ways to cover the cost of purchasing a new vehicle, especially when buying from a previous owner instead of from the company. This is because it eliminates the need for an auto loan, which would require you to use your car as collateral. If you default on a quick loan, you are charged some interest, but if you default on an auto loan, you lose your car. Using a quick loan to finance your car also prevents you from emptying your savings account, so win-win.

5. Paying for Vacation

According to an Experian survey, 23 percent of people applying for a personal loan wish to use it to travel. While your typical vacation might not necessitate a quick loan, something like a cruise, backpacking trip, or honeymoon could prove too much for your credit card. A quick loan could give you the graduation, anniversary, or birthday vacation of your dreams.

Now, it is important to remember that another way to go in this scenario is to save for your trip and go when you have enough money. However, a quick loan does away with the delayed gratification and is a lot easier on your credit card.

6. College Tuition

College students have a wide range of financing options available to them, including private student loans and federal student and parent loans. Still, you may consider a quick loan if:• The quick loan rate is lower than traditional student loan options• You need money to pay for short-term expenses.• Your degree program is not eligible for traditional student loan options.

Even if you qualify for a traditional student loan, college life extends beyond the lecture halls. A quick loan could help you cover short-term expenses like accommodation and food.

7. Moving Costs

Moving locally will set you back $1,250 on average, while a long-distance move could cost up to $4,890, according to Moving.com. If you don’t have that kind of money lying around, you can take out a quick loan to cover your moving expenses. This includes buying new furniture, moving your belongings, or transporting your car. You can then pay back the borrowed amount once you settle into your new home.

Final Thoughts

All in all, there is a multitude of reasons why you might take out a quick personal loan – some not even listed in this post. Whatever your motivation, it is crucial to remember that these loans – like all other forms of funding – must be paid back. Weigh your reasons to determine whether they are urgent, and if they are, get the loan, thenplan on how to repay your lender.

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