Selling Your Life Insurance Policy Does It Make Sense?

You might have bought life insurance to safeguard your family or business and supply monetary security when it was needed most, like lots of Americans have done. However, as situations change, your insurance coverage priorities might have changed with them, which is why selling your life insurance policy can make sense.

There are countless reasons you may wish to sell you life insurance policy. Which one is yours?

There are numerous reasons you may consider selling a life policy:

• The premiums are no longer affordable.
• The need to replace lost income in case of death of the insured no longer exists.
• A term policy may be reaching the end of the coverage period.
• Funds are wanted to improve a retirement lifestyle.
• The need for funds to pay estate taxes no longer applies.
• The need to eliminate future premiums payments but keep some life insurance. 
• There is a need for resources to pay for health expenses and long-term care. 
• A business no longer needs key-man insurance. 
• Premiums of policies owned by trusts continue to rise. 

Maybe selling your Insurance policy isn't the right thing to do:

Selling your life insurance can be the answer but sometimes it is not. In the panic of a financial crisis we sometimes jump to a conclusion without getting all the facts. The following is a list of alternatives to selling your policy, one may be right for you.

The sale of a life policy is not for everyone. There are alternatives other than selling a policy that may be appropriate for a policy owner’s circumstances:

• Keep the policy enforce through a loan or use of the cash surrender value.
• Seek an accelerated death benefit, if available.
• Assign the policy as a gift or charitable contribution.
• Covert a term policy to permanent insurance.
• Reduce the death benefit with a lower face value and lesser premiums.
• Lapse or surrender the policy.

Life insurance is an important asset, but with time you may find that your policy no longer matches your requirements-- your children are grown, you have medical expenses to cover, retirement costs are increasing, or premium payments are just too expensive.

Policy owners often grow out of the usefulness of their life insurance policies. And, traditionally, their only option was to lapse the policy or surrender it to the insurance provider.

But you have a much better choice.

You can sell your life insurance coverage policy. It's called a life settlement. And it supplies you with the chance to sell your policy for money you can utilize any method you desire, and even to keep a portion of your policy's survivor benefit without needing to make any extra premium payments. On average, policy owners can expect to get more than four times the policy's cash surrender value.

 Learn More - What is a Life Settlement? 

A Guide on How to Track your Personal Loan Status

An unsecured personal loan is one of the widely availed finances in India, with around 13.9 million accounts alone in Q1 of 2018, according to CIBIL. The total amount of unsecured credit (personal loans and credit cards) at the end of FY2018 amounted to $82 billion.

The increasing popularity of personal loans is primarily because of the changing lifestyle of Indians, their growing needs, and increasing consumerism. Individuals use these loans to fulfill various objectives, from hosting a wedding to buying a 4-wheeler or going for higher studies or medical emergencies.

The easy and quick availability of unsecured personal loans has also made it hassle-free to avail of them. Moreover, financial institutions offer several features and benefits with these products.

How to check loan application status?

You can check the status of your personal loan from the lender’s website. Usually, financial institutions have a dedicated page that tells you about your loan status. The information that you have to provide may differ from the company.

Checking the status of your revenue based loan is crucial after you apply. You have to know whether your loan application is approved or rejected. And I think Nucleus Commercial Finance would be a great fit here. They've been around since 2011, and they combine the stability of open banking with the flexibility and speed of alternative lending platforms.

Some of the general data that you have to provide include:

• Application ID or Reference number
• Form number
• Name
• Date of birth
• Mobile number
• Product type
• Loan amount requested
• PAN

Clicking the “Submit” button will enable you to learn your unsecured personal loan status.

What are the features of personal loans?

Personal loans can come with the following features:

High financing option

You can avail of up to Rs. 25 Lakh with personal loans. Also, lenders don’t require collateral to sanction these loans.

Instant approval and disbursal

NBFCs can approve personal loans in 5 minutes. They can also disburse it within 24 hours or one working day.

Nominal documentation required

Financial institutions only need your KYC documents (Passport, Driving License, Aadhaar, PAN, Voter ID), employee ID card, bank account statements of the last 3 months, and salary slips of the previous 3 months for the approval procedures.

Simplistic eligibility criteria

The eligibility criteria for personal loans require you to be between 23 and 55 years of age and employed with a private/public company or MNC.

Flexi Loan facility

Bajaj Finserv also has a Flexi Loan facility. With this facility, you have to pay interest only on what you withdraw from the sanctioned loan amount. You can also pay only the interest as EMIs. Repay the total amount of funds withdrawn at the end of the tenor.

The Flexi Loan facility lowers EMIs by as much as 45% compared to traditional personal loans.

Pre-approved offers

Lenders bring pre-approved offers on Personal Loans that save you time when availing of financing by making the process hassle-free. Pre-approved offers are valid on home loans, business loans, personal loans, and a range of other financial products & services. You only have to provide a few essential details to check your pre-approved offer.

What are the things to remember before applying for a personal loan?

Do remember these few things before you apply for a personal loan:

Opt for a reasonable amount

Financial institutions may reject your application if you apply for a high amount. Hence, it is recommended to use a personal loan eligibility calculator. It will help you learn the highest loan amount you are eligible for as per your income, outstanding credit card debt, and loan EMIs.

Calculate your EMIs

Calculating your EMIs helps you to know whether you will be able to pay them. Use an online EMI calculator if you don’t know how to calculate personal loan EMI. Have a high credit score

Lenders need a credit score of 750 or more to sanction you a personal loan. Improving the credit score requires only a credit card. You can also avail of a secured credit card by pledging a fixed deposit as collateral.

Paying the total amount due within the deadline and utilizing 30% to 50% of your credit limit will improve your credit score.

You must lower your fixed monthly obligations

Ensure that the ratio of your monthly income to your fixed monthly obligations is lower than 50%. Closing your existing loans and clearing your credit card debt can help you achieve this ratio.

Opt for an unsecured personal loan today to fulfill your financial goals. Financial institutions give you the option to apply for these loans online. You only have to provide your personal details, income, and a few other basic details to apply successfully.

How Selling Your Life Insurance Policy Works

You can receive more money from selling your policy than you would if you cancelled or surrendered your policy to the life insurance company. Life settlement proceeds can be used for anything you want, including supplementing retirement income, paying down debt or funding long term care. You can even keep a portion of your life insurance coverage while eliminating premium payments.

The process of selling your life insurance policy is not difficult. It is a 9 step process that is mostly handled by the life insurance settlement broker. Besides an application and some of your medical records there is not much for the applicant to do. The following is a simple list of the process.

This process can cause some anxiety and fear in doing it right. Also what if you are not near a local insurance agent that handles this type of service. What do you do? Many firms like Mason Finance can do this online. There is no excuse anymore to solving your financial needs.

Process For Selling Your Life Insurance policy

1. Realization:

Policy owner realizes that his/her life insurance policy is an asset that may be offered for sale.

2. Contacting a Representative of the Life Insurance Settlement Association:

If a life settlement is determined to be the best option, the policy owner or the advisor get in touches with a member of the Life Insurance Settlement Association who is either a life settlement broker or provider to start the procedure. It's possible to engage in a life settlement through either.





3. Application:

After selecting proper representation to settle a policy, the policy owner should complete an application and provide policy, ownership and insured information providing a list of doctors and/or medical records for underwriting. It is essential that you review all your personal privacy and security rights.

4. Underwriting:

The settlement company submits the medical records for review by an independent life expectancy company. Life expectancy business calculate the probable life span using actuarial and physician experts.

5. Analysis:

Each life settlement provider/buyer calculates the marketplace value for the policy offered for sale. Companies may consider different aspects when valuing a policy, including contract specifics such as premium expense, death benefit and provider ratings, as well as insured details like age and life span underwriting.

6. Preparing an Offer:

The provider/buyer will either decline or prolong an offer to the policy owner or agent. An agent will seek competing offers from other providers/buyers. The policy owner can accept or decline any offer.

7. Purchase and Sale Agreement:

If the policy owner approves a deal, the provider that made the deal will prepare a purchase and purchase contract and other documents formalizing the transaction. The policy owner, insured and beneficiaries then sign this package. The provider will evaluate, complete due diligence and countersign the plan. The money for the settlement sale are then placed in an escrow account.

8. Notification:

The insurance provider is informed of the modification of policy ownership and named beneficiary to the different owner, the provider.

9. Money Transfer:

Upon written confirmation of the change of ownership and beneficiary, the escrow agent releases the settlement payment to the seller of the policy.

The process is simple and painless. It's easily handled by your Settlement specialist. In a very short time you will be in possession of your money.

- Click Here: Selling Your Life Insurance Policy, Does It Make Sense? -

5 Ways to Help Lower the Cost of a Funeral

Losing someone close to us can be tough. Families must figure out how to go on without their loved ones, but at the same time, may be faced with the added worry of paying for a funeral. 

This is something many of us don’t think about until we need to plan a service, meaning families are often shocked to learn just how much a funeral can cost.

An average funeral in New Zealand can cost anywhere from $4,000 to $15,000, according to Dollar Insurance. This figure consists of everything from handling the remains to burying the body. 

However, given how quickly funerals are put together and a general lack of pre-planning, it can be hard for families to know if they’re paying for items they don’t want or need.

It may not be pleasant to think about, but a bit of advance planning for your own funeral could help your family avoid stress or debt when you pass. Here are five ways that could help your loved ones in the future:

1. Do some pre-planning.

Funerals are often put together on short notice. As a result, families may be unable to compare prices from one funeral home to another. One way you could help is by doing some “shopping around” for them. Ask local funeral directors for pricing, even if it’s just an estimate.

If you find a funeral home, you’re comfortable with—both the price and management—tell your family. That way, they’ll know where to go when it comes time to arrange the funeral.

2. Consider a funeral insurance policy.

Even if you take the steps above, the final funeral bill your family receives might still be more than they can afford, especially if they need to come up with the money on short notice. Click Here for funeral insurance that might be able to help.

A policy could help your family pay for a service and anything else they may need at the time. This could be a quick and affordable way for you to help fund your funeral and remove some of the financial burdens from your loved ones’ shoulders.

3. Choose cremation over burial.

A traditional burial can be expensive. Depending on where you’re buried, a cemetery plot and council burial fees can range from a few hundred dollars to several thousand. Plus, other things typically go along with burial that can add up.

Doing the deceased’s hair and makeup for an open casket, the coffin, and a headstone. Alternatively, cremation could be more affordable. This may cost less than $1,200 and remove the need for a headstone if the ashes are scattered.

4. Decline embalming.

Whether you decide to be buried or cremated, asking that your body not be embalmed could save your family hundreds of dollars. Embalming is a process used to preserve the body and help make it presentable for viewing. 

However, it’s typically only required in cases of infectious disease. If you prefer a closed casket funeral, there may be no need for this extra step.

5. Skip the fancy upgrades.

Like any business, funeral homes need to make money. There are many trustworthy funeral directors out there, but unfortunately, some do try to sell grieving families on fancy upgrades.

Writing down your funeral wishes, including specifying anything you don’t want, could help your family save some money. This could include asking them to choose a simple casket instead of a “gasket” one, only holding one ceremony at the graveside, or saying no to flower arrangements.

Planning a funeral can be stressful for a family, but helping control the costs could make it easier for them to say goodbye in peace. Taking steps like pre-planning, choosing how you’d like your remains to be handled, or getting funeral insurance may be a smart move for people over 50.

How to Be Profitable in the Stock Market

Image Source: Bigstock Photo

Saving money is great, but eventually you may want to grow your assets more aggressively. The stock market is one of the best places to make significant profit off your existing capital. Some people shy away from it due to fear of uncertainty, but if you can live and function within that ambiguity, you can truly build your wealth.

Before you invest, though, there are some key concepts you will want to learn to increase your chances of success.

Understand Technical and Fundamental Analysis

There are two main ways to vet a potential company for investment: technical and fundamental analysis. Technical analysis means learning how to read stock market charts to identify trends and give you a better idea of when you should enter or exit your positions.

Fundamental analysis focuses on ways to address the underlying value of a particular company’s stock. This approach takes into account things like a company’s financial standing, the wider economic environment in that industry, and the strength of the management team. Using these factors, traders and investors compare the current price of a stock to their valuation of it to determine if the stock is over or undervalued.

These two methods combined allow traders and investors to analyze a particular stock and try to time optimal entry and exit times for maximum profit.

Timing the Market

Picking the best time to buy or sell is one of the most challenging parts of trading and investing. You can choose a great company with spectacular fundamentals, but if you buy when their stocks are at all-time high prices, you are still likely to lose money when the stock consolidates, or evens out. 




Some ways to gauge the market for entry and exit points are by using technical analysis, being vigilant before and after annual earning reports come out, staying a step ahead of major news announcements that can impact price, and by properly evaluating assets for over and undervaluation.

No one can win all the time, so don’t get too discouraged if you don’t perfectly time the market.

Learn, Learn, Learn

There is no such thing as a perfect trader, but don’t be one who simply wings it either. Constantly improve your skills and deepen your information about your target markets. There are troves of great information on the web, so stay curious and be proactive about maximizing your knowledge base.

A proprietary trading firm like Maverick Trading even hires and trains inexperienced traders. If you are very serious about trading, learning from industry experts can really speed up the learning process.

Don’t Compound Your Mistakes

Sometimes when you are playing the market, you are going to make the wrong choice. Maybe you set your stop limit too high, the stock price dipped, and then your order sold right before the stock went on a big run. Now you’re upset because the stock gained 30%, and you want back in. Then you buy it back, and the price swings back down. Now not only did you miss out on the bump, you also lost money on the dip. These mistakes can be infuriating.

Emotions are one of your biggest enemies in trading. You don’t want to make moves based on your emotional state, which can be hard when you have major money on the line. Instead of trading on emotions, develop personal trading principles that you stick to regardless of the situation. By creating these principles, you can follow best practices rather than the wind of emotion.

The major theme here is that information is power. If you want to trade, don’t just shoot in the dark and hope for the best. Trades aren’t won on hope, they are won with knowledge.

About the author: Anthony M. Christensen is a writer, digital marketer, and owner of Astronautical LLC. He earned a BS in English at Utah Valley University. He loves art and wandering the mountains and deserts of his native state, Utah. Connect with him on LinkedIn.

3 Things You Should Know about the Cost of a Lawsuit

There are many factors to consider as you decide whether or not to file a lawsuit against another party. Regardless of the type of case that you are thinking about pursuing in court, you must understand the potential costs of a lawsuit before you finalize your plans. While requesting an estimate for legal fees from your lawyer is a critical step to take, there are a few other things that you need to know about legal fees.

Different Legal Fee Structures

Each law firm or independent lawyer has a different fee structure. Some will only collect a fee if they win your case, and the fee may be a percentage of the award. Others will collect an up-front fee based on their time and energy spent on your case regardless of whether they win or not. 

Some will collect this fee with monthly billing statements as an alternative. There are also various hybrid variations that combine these fee structures together. Because fee structures vary dramatically, you should carefully assess the structures from several experienced attorneys before you make a decision about representation.

Rates Vary Dramatically

Likewise, rates for these various fee structures vary. A higher rate does not always mean that you will receive better service or enjoy a more favorable outcome. Many people worry about having to pay expensive legal fees out of their own pocket, and they may be inclined to find the rock-bottom lowest rate available. 




Understand that lawsuit funding is available. After learning about the lawsuit funding process, you may decide that this is an effective way to pay for legal fees upfront and obtain the services of the most experienced lawyer in your areas. 

Don’t forget to look on legal websites for information that can help you out. For example, if you had questions about settlement loans, you can learn about it here.

Judgments May Not Be Paid Promptly

You may assume that you can pay for legal fees after a judgment has been awarded, and your lawyer may tell you that you have a very solid case with a strong likelihood of having a favorable outcome. However, some people may not pay a judgment in a timely manner. 

An outstanding judgment typically will show up on the individual’s credit report as an outstanding debt, and this may interfere with is or her ability to obtain financing until the debt is paid to you. However, it still may be months or years until you receive a dime from the court case.

Legal fees can seem prohibitive, and you may consider not filing a case because of them. However, with multiple fee structures available and with legal fee funding available, there is no reason not to pursue justice with a lawsuit.