Life Insurance For Seniors-New Financial Approaches

Whew. We’re all getting older…each and every day. Why not get wiser, too, or at least stay with it.

We seniors (yes, me too) now have a plethora of ways to connect with others and remain as independent as we want, and the future looks very bright indeed.

From iPods to the Jitterbug clamshell phone with it’s extra large buttons, amplified cell phones, the autos being built green and yes, with extra large knobs, to the LCD touch screens to control every electronic device in our home, including programmable step ladders, and fingerprint scanned home entry, we’ve come a long way.

Read Eric Taub’s wonderful NY Times senior technology

[Read more →]

clipped from www.life-senior-insurance.com

How is this possible?

The answer is that tantamount to premium financing, wherever the funders are dealing with mortality rate spreads, the institutional folks are also calculating these comparable spreads when it concerns immediate annuities.

This can appear labyrinthian, but it’s actually similar to the stock market option biz. One party believes the stock will go higher,and the other opines the direction is downward.

If you are between 70-85 years old, you might qualify for an immediate annuity that compensates you each month for… Continue reading

[Read more →]

Today’s seniors have a multitude of financial opportunities when it comes to life insurance. There’s the concept of premium financing to obtain insurance, and the life settlements market to sell an unwanted policy.

Did you know, though, that a senior can obtain a loan if they want to keep the policy but require some emergency funds? An easy solution is to is to borrow against the policy. The senior must approach the life insurance issuer and clearly state the financial need for the funds. The loan amount is usually determined as a percentage of the policy face value, but every issuer has its own rules and regulations.

A fixed period of time is scheduled for loan repayment, typically in monthly installments. During this period of… Continue reading

[Read more →]

I love the concept of immediate annuities. Particularly if someone else is footing the bill. Can you imagine that some Institutional Funder is willing to put money up in an immediate annuity, and have a portion paid to you for life? That’s right. The senior pays nothing and the greatest part is that the funder hopes (and prays), the Senior lives forever. These immediate annuities pay for life, so the Continue reading

[Read more →]

An immediate annuity for seniors whereby the senior never had to put up a dime or offer any collateral?

My mind went blank. I was in total shock. How could this be, I asked?

Well the answer was that like premium financing, where the funders are looking at mortality spreads, the institutional boys are also looking for these same spreads when it comes to immediate annuities. This may seem complex, but it’s Continue reading

[Read more →]