What Retirees Should Know About Life Settlements

August 9th, 2013

Pacific West Capital Group, Inc. feels that life settlements are a win-win transaction: good for the retiree selling the life insurance policy, and good for the investors seeking alternative ways to meet their mid to long term investment objectives. Although this is a great option for seniors to turn a static asset into liquid cash, there are a couple of things one should consider

Survivor Impact

When you decide to offer your life insurance policy to a licensed life settlement broker, you must understand that someone else will ultimately become the irrevocable beneficiary of the life insurance policy still naming you as the insured. This is a particular concern with a married couple where one spouse may need the proceeds from the policy if the other spouse dies. On the other hand the lump sum may provide a sufficient nest egg to ensure the survivor is cared for.

Finally, be aware of Pacific West Capital Group selects policies that meets the company‚Äôs strict guidelines. Thus,not all policies are eligible. However it’s worth looking into life settlements if you are a senior who needs re-position your investment portfolio.

Financial Impact

As with any major decision, consult a financial professional to understand all of the implications of the sale. For example the lump sum may or may not be taxable, depending on a number of factors, and that will be an important consideration in determining whether this is the right choice for you. If you are on public assistance programs such as Medicaid, then the income from a life settlement may make you ineligible for those benefits. You’ll have to decide if the extra money is worth the loss of benefits.

Additional Resources:

Pacific West Capital Group :: Listed on Corp Tower.com

Pacific West Capital Group :: Article on Market Index.com

Pacific West Capital Group :: Information on Data Incs.com

Pacific West Capital Group :: Article on The Biz Land.com

Pacific West Capital Group :: Listed on The Info Company.com