When Should Seniors Consider a Life Settlement?

 

 

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Are you a senior considering a life settlement? It could be a great financial option for you and your family depending on the scenario. 

Whether or not you should consider a life settlement depends on your personal financial situation, goals, and needs. In general, a policyholder may consider selling their policy because their current financial situation does not warrant the need for a policy any longer. Below are some of the most common reasons why policyholders may abandon their policy.

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9 Reasons Why What You Think About Aging Matters

 

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Henry Ford supposedly said, “If you think you can’t—you can’t. If you think you can—you can.” While that statement usually applies to reaching our goals or persevering in spite of the odds, we seldom consider it in context with aging. Yet, growing research shows that our view of aging can have a dramatic effect on the quality of our health, happiness, and wellbeing. Not only does what we each think about aging matter, how we feel about aging as a society influences the experience that each of us will have as the years add up. Fortunately, if we can learn to identify those stereotypical prejudices most of us hold about aging, we can halt and maybe even reverse many of the negatives formerly believed to be our destiny.

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Ovid’s Best Retirement Blogs of 2016

 

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The internet is awash with all different kinds of advice on retirement – some of it is good, some not. Each year, Ovid compiles a list of the best Retirement Blogs. We look for a many factors, but the most important:

(1) Credibility of information: your retirement is serious and the advice you listen to should be of impeccable quality and come from a reliable source.

(2) Helpful topics: we like blogs that discuss topics relevant to problems or issues that retirees face frequently.

(3) Great content and writing: reading about retirement saving strategies isn’t always a lot of fun, so we look for engaging writers who can simplify complex topics and make reading about them enjoyable. 

Here’s are the winners (in no specific order) and below are their stories. Check them out, subscribe and enjoy reading!

 

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The Guide to Reverse Life Insurance

 

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Reverse life insurance is the process of selling your life insurance to an investor for an upfront settlement. With the growing popularity of these insurance transactions, Ovid put together this quick and nifty reverse life insurance guide. Most people don’t realize they have this important hidden asset and that they can sell their life insurance just like their house or their car. Start with this article to figure out if it makes sense for you to get paid for your life insurance. If you’re looking for more information then, read this life settlement guide.

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6 Smart Ways to Pay for Cancer Treatment and Care

 

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A cancer diagnosis is among the worse of life-changing health-related diagnoses a person can receive. In addition to wondering about their own mortality, there are so many other questions at play. Everything from treatment options to how to tell family and friends becomes a question in need of an answer. At the top of the list are the financial concerns that come along with treatment.

Even with insurance, fighting cancer is a costly endeavor because insurance doesn’t cover everything, according to the American Cancer Society. In fact, the American Cancer Society states that even insured individuals may have to pay up to 25% of the cost of expensive oral chemotherapy drugs, for instance. According to NerdWallet, the cost of chemotherapy – the most common and effective way to fight cancer – costs $108,000 in the first year for women and $115,000 in the first year for men. Then, there are the costs for supplemental medications, radiation (if necessary), living expenses (since most people cannot work full-time while going through treatment) and any other complementary therapies used to fight the disease.

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How Your Life Insurer is Cheating You

 

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Big life insurance companies make their money on a dirty little secret. When you die, they probably won’t pay out your policy. That’s right – you have a very high chance of lapsing your policy before it matures – meaning you’ll probably stop paying your monthly premiums and the policy will be worthless.

This happens to 87% of life insurance owners like you. You have an 87% chance of not getting your life insurance payout! Why? Most people lapse their life insurance when they no longer want, need or can afford their policy.  When you lapse a policy, the premiums you paid in become pure profit for the life insurer and your family gets nothing.

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Steps to Getting a Mortgage as a Senior

 

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Many seniors expect that by the time they reach a certain age, the process of getting a mortgage will be a thing of the past. However, financial circumstances may dictate otherwise. Some seniors don’t purchase a home until later in life; others may opt to downsize into a small home, which necessitates the need for a mortgage. Getting a mortgage as an older individual can present some unique challenges – the biggest being the fact that most seniors do not have a salary. Understanding just what those challenges are going into the process can help a senior to get the best mortgage for their specific situation.

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These Five Amazing Athletes Redefine What It Means To Be a Senior Citizen

 

These Five Amazing Athletes Redefine What It Means To Be a Senior Citizen

The picture often painted of senior citizens is one of a grandmother or grandfather type sitting around waiting for family members to stop by for a visit. However, this is no longer an accurate depiction. Today’s seniors are more active than ever before, discovering that they have the energy, gumption and willingness to try new things in their older age. As such, there are a number of very competitive and highly-regarded senior athletes that are making the case for being active in old age.

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It’s Not Easy Selecting a Medical Alert System

 

How to Select the Right Medical Alert System

In May, we mentioned that all seniors should have a fall detection wearable. These wearables can detect if you or a loved one has had an accident and notify the appropriate caregivers and authorities of the accident. The broad category of these devices is called “medical alert systems“. Unfortunately, it’s quite difficult to select a medical alert system. There are dozens of products out there, each with dozens of features. Our focus today is providing some clarity on what these systems do and how to think about selecting the best one for you.

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5 Health Tips You Should Start Doing Today

 

5 Health Tips You Should Start Doing Today

Happy Fourth of July! We are back this week with tips on health and wellness. One thing we’ve heard from you is that you really appreciate articles where the to-do’s and tips are clearly actionable. Unfortunately there are many articles out there that are too general and leave readers confused. So we’ve gathered some of the best tips that we’ve seen and have heard from the experts into a list of actionable tips you can start doing today!

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