Guest Blog: Are You Worried about Outliving Your Money in Retirement? A Life Settlement could be a Game Changer for You.

Cheerful senior couple moving into new home smiling at cameraOur guest blogger this week is Jamie Mendelsohn, Vice President, Ashar Group.

Due to medical advances and healthy lifestyles, many seniors are going to live longer than they planned on. As a result, seniors are working longer and delaying retirement to help compensate for an anticipated shortfall in retirement income. The Life Settlement option has emerged as a viable option to consider when it becomes apparent that you are in danger of outliving your savings and in need of liquidity to maintain your lifestyle for years to come. A life settlement is a liquidity option where you can appraise an unneeded or unaffordable life insurance policy that you currently own and potentially sell it for more than the cash surrender value. A study from the Government Accountability Office concluded that life settlements offered seniors approximately 8 times more than the surrender value as opposed to just letting their life insurance policy lapse. That’s additional income that can be used to fund long-term health care needs, retirement needs, or simply as a way to offset the costs of living on a fixed income while trying to keep pace with inflation.

So how do you know what a policy is worth? No different than your home or any other assets that you own, you can have your life insurance policy appraised or valued in the Secondary Market. While many seniors can benefit from a SMV®, Secondary Market Valuation, those who have health conditions that were developed after the policy was issued years ago, are the ones who benefit most. Ashar Group provides a simple online tool to help you evaluate if your policy might have hidden value that can be uncovered to help you supplement your retirement. It’s a quick and easy 7-question quiz that you can access at www.ashargroup.com/quiz/start.

Jamie Mendelsohn is a Vice President for the Ashar Group in Orlando, Florida. Ashar is a independent life settlement brokerage firm that partners with your advisor to design your case and represent you in the secondary market bidding process to assure that you get the highest offer possible. Jamie can be reached at Jamie@ashargroup.com.

 

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