Ways to generate money in old age
August 6th, 2009 byRather than allowing life insurance policy to lapse, old people have another alternative at hand, which is known as life settlements. For the settlement to happen the policy holder sells his life insurance policy to the investor who keeps paying his policy premiums and will get to collect the life insurance after the death of the policy holder. At the time of purchase, the investor pays the policy holder an amount, which is less than the face value of life insurance. Life insurance settlements can generate lot of capital which can be used for immediate medical bills or going for vacation. The final amount of settlement depends on number of factors like original amount of life insurance, premium cost, estimated life expectancy, interest rates and many others.
Senior life settlement is also called senior settlements. This happens when a senior citizen sells an insurance policy to an investor for a percentage of insurance amounts. However, there is a criterion for senior settlement which has to be met. There is a limit on the life expectancy of the insured, and the worth of the policy. Senior citizens have this option to access funds, which can then be used for necessary expenses, like medical bills, or investing money somewhere else.
Posted in Business |

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