Before we get into a full discussion of the cost or price of life insurance, let’s identify and correctly define some terms. “Cost” and “price” are not accurate terms to …
Continue ReadingHow is the Cost of Life Insurance Determined?
Category: Insurance
What is Life Insurance and Should Older Adults Buy It?
Any kind of insurance is fundamentally about risk. Risk can be defined as the chance of financial loss due to an unexpected event. Insurance involves the transfer of risk from …
Continue ReadingBorrowing the Cash Value from a Life Insurance Policy to Pay the Cost of Senior Care
There are essentially two types of life insurance policies: Term life insurance Cash value life insurance Term insurance is pure insurance protection and lacks a “saving” or “investment” element. Cash …
Continue ReadingUsing the “Living Benefit” Rider in Your Life Insurance Policy to Pay for Senior Care
Many life insurance policies now contain a provision enabling a person who is terminally ill to essentially receive an advance, during his or her lifetime, of the “death benefit” that …
Continue ReadingSelling Your Life Insurance Policy as a Viatical Settlement or Senior Settlement to Pay for Senior Care
As Benjamin Franklin’s said – “Nothing is certain except death and taxes.” If you own a life insurance policy, and continue to make premium payments on time, the life insurance …
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