Insurance World

Life settlements also known as life insurance settlements, senior settlements, or senior life settlements have quickly become an important tool for insurance agents, financial planners, estate planners, elder law attorneys, and other financial related professionals.

A life settlement is a financial transaction in which a senior citizen policy owner of an unneeded, underperforming, or unwanted life insurance policy sells the policy to a third party, as opposed to surrendering or lapsing it back to the life insurance company. The senior citizen policy seller receives immediate cash for the policy from the purchaser.

Agents and financial planners are beginning to market life settlements to their current client base and to potential clients. The most current effective methods of marketing life settlements are one-on-one presentations, seminars, and client newsletters. There has also been success with direct mailing either a client base or demographic base fitting the life settlement parameters.

A life settlement broker can assist life settlement agents with marketing material, educational material, and evaluation material. Having the correct knowledge about the life settlement product and material is important for any financial planner or agent meeting with a client or potential client. Each life settlement case is looked at differently, the biggest factors are the age of the insured, health of insured, policy size, premium amount, and current cash value (if any). Most life settlement brokers can provide simple qualification or evaluation forms that will quickly determine if a settlement would be available for that specific individual.

Life settlements are still a new concept for most agents and financial professionals. Many still do not understand the concept or have the right education about life settlements. It is important for these professionals to take the time to learn about life settlements so that in return they can relay this information to their clients. Many policy owners do not understand that there could be a cash settlement available for a life insurance policy that they are going to surrender or lapse. Insurance agents and financial professionals need to take the correct marketing and education steps to reach those clients in need. A life settlement can create added financial benefits for both the client and the financial professional.

It is a fact, nobody wants to spend lots of money on car insurance. Although nobody wants to spend such money, insurance payments are a necessary evil in order to stay financially and physically safe as well as abide by the law. The problem with insurance is that it is often very expensive for the individual to have insurance, and since one must have insurance to drive a car, this poses a significant problem. How to reduce the cost of driving.

To lower the cost of insurance, there are a few general factors that are involved:

1. The Driver - The person to whom the car is insured to. This factor is one of the most significant and changeable factor in getting cheaper car insurance. Car insurance premiums often are a direct reflection of a persons driving history and age and gender. Individuals under twenty five years of age that are male with a few accidents on record with the Department of motor vehicles will have more expensive car insurance than a twenty six year old female with a clean driving record. Now you can’t change how old you are, and essentially, you can not change your gender, however you are in control of your driving record. Safe habits and defensive driving can significantly reduce the risks of getting a traffic ticket or a car accident that will keep your carinsurance rates lower.

2. The Car - The car that is insured is another huge factor in getting less expensive auto insurance. Often times sports cars with two seats and two doors will pay a much higher rate than family sedans with four seats made for economical purposes rather than speed. Getting an older model car with automatic safety belts, four seats, four doors and an airbag will help insure the cheapest car insurence possible.

3. The Company - There are a plethora of insurance companies out there. Many of the companies offer discounts for programs like drivers education. Other car insurance companies will even give you comparisons from other companies. You often get rate quotes online which makes finding the cheapest car insurance company easier. But be warned, the cheapest isn’t always the best. When it comes to car insurance companies, you often get what you’ve paid for so make sure you understand your policy completely.

By keeping these three factors in mind you can be well on your way to finding the car insurance company that best suites your needs and provides you with the best car for your money.