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When you sell a life insurance policy, the money you receive can be taxed in three different ways: as ordinary income, as long-term capital gains or as tax-free income.
At a time when retirement nest eggs have shrunk, home equity has disappeared and bank loans are hard to get, more and more people are selling their life insurance policies to get cash. "People may ...
A life settlement or viatical settlement (from Latin viaticum, something received before death) [1] is the sale of an existing life insurance policy (typically of seniors) for more than its cash surrender value, but less than its net death benefit, [2] to a third party investor. [3]
Permanent life insurance policies, such as whole life or universal life, are designed to provide lifelong coverage, with maximum coverage ages ranging from 95 to 121, and typically include a cash ...
Independent insurance agents typically represent a number of insurance companies, or "carriers", and sell the products that most appropriately meet the needs of their clients. Independent agents typically are very well trained and knowledgeable of the complexities of the insurance market and insurance law . [ 1 ]
Permanent life insurance is life insurance that covers the remaining lifetime of the insured. A permanent insurance policy accumulates a cash value up to its date of maturation. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value.
In America's top 20 metropolitan areas, homeowners can save an average of about $196,000 by downsizing from a four-bedroom to a two-bedroom home, according to clark.com, a site founded by finance ...
As early as 1979, Feldman had sold more life insurance than anyone in history. [3] He sold life insurance policies with a total face value of about $1.5-billion [4] for New York Life from 1942 to his death in 1993. He once held the world record for the most products sold (by value) by a salesman in a career, a year ($100,000,000), and in a ...