Senior Life Settlements - Know Your Priorities
Posted by Norman Hood on Fri, Jun 25, 2010 @ 11:16 AM
By Norman A. Hood
Senior life settlements work best for people who clearly understand their priorities. The essence is knowing the difference between the reasons people buy life insurance and the reasons they later decide to sell it using senior life settlements.
People buy life insurance because they are concerned about not living long enough to accomplish goals like...
1) Providing for survivors
2) Paying off debt
3) Leaving an inheritance
4) Perpetuating charitable support
5) Building a business
Senior life settlements, on the other hand, are more appealing to people whose
objectives have changed since their policy was purchased. They use senior life settlements to sell life insurance policies that were often purchased for one of the above reasons that no longer exists or has become less important than before. Perhaps because it has been replaced by a more pressing concern that is connected to living too long, such as:
1) Outliving income
2) Finding a new income source because one has run out
3) Offsetting market losses
4) Meeting health care costs
5) Losing purchasing power because of inflation
In the end, it's what matters to you that is MOST important. Looking at the lists 
may help you identify your number 1 priority at this stage of your life. Then, LIVEpdq can then help you decide if senior life settlements are even an option.
Note: Blog posts reflect the opinion of the author, which may differ from the opinion of policysettlement.com.