Baby boomers are experiencing an exciting season of life, but it can also be riddled with confusion and mixed emotions. They are trying to navigate their golden years without children living at home while often building relationships with grandchildren. And a surprising number of them are struggling with finding fulfillment in their ...

The historically low interest rate environment for the past several years has negatively impacted retirees who have built financial plans on expectations of interest income from bonds and other fixed-income assets.

The peak earning years for seniors are gone and the only supplement to accrued savings, other than the hopeful growth of investment accounts, is often social security checks or employer pension payments. The risk of unexpected — and unwelcome — financial surprises can derail any plan that has a minimal margin for error.

It is a topic that few of us want to discuss, but it is a reality of life for anyone who is married or plans to get married, — especially for seniors living in retirement.  We may have to cope with the difficulty of becoming a widow/widower.

Life settlements are highly regulated transactions where policy owners sell their life insurance policies to a third-party investor for less than the death benefit but more than the cash surrender value.  The proceeds from a life settlement can be used in any manner whatsoever, to offset medical bills, provide gifts to family member...

Life insurance, without question, serves as a financial umbrella to protect families. The coverage provides peace of mind and a safety net during a season of life when children are dependent on the support. But what happens when that season ends, the kids are grown and self-sufficient, and mom or dad determines that such protection i...

Mark bought an individual $2M Lincoln National Universal Life policy in 2017 (at age 78). Due to financial constraints, he could no longer afford the $104,330 annual premium to maintain the policy. Unfortunately, reducing the Death Benefit was not ...

Turbulence in the financial indexes this year has been unsettling to many people, but it has been an especially tough year for retirees. In addition to the declines in the equity markets, the threat of rising interest rates and accelerating inflation has provoked a sharp sell-off in the bond market as well.

Retirees have unwillingly been on a financial rollercoaster of fast-changing economic conditions over the past few years.   A robust economy was interrupted by a global pandemic, which triggered a short-lived global recession in the face of unprecedented shutdowns.  Then, there was an astonishing recovery and a booming stock marke...

Many advisors are being tested in 2022 when counseling their retiree clients regarding spending levels.  On the income side, seniors have seen their investment portfolios suffer with a bear market in stocks and the worst decline in bond prices in decades.  On the expense side, a dramatic spike in inflation has driven up the cost of...

Janet owned a 20-year term life insurance policy that was expiring within a year. Unfortunately, she could not afford to convert the coverage to a permanent policy. So, just like most term life insurance consumers, she was about to let her term polic...

The COVID-19 pandemic not only created a worldwide public health emergency, but it also had an enormous impact on every sector of the global economy. The life insurance industry has been no exception.

John purchased a 10-Year Level Term Policy at age 59 to provide his wife with financial security. Ten years later, John and his wife were faced with the decision to convert the policy into permanent coverage at a cost of $35,825.00 per year or pay ...

Many seniors mistakenly assume that their only available cash-producing assets are the ones that they can touch and see.  But a more thorough analysis may uncover hidden assets that have potential value.  It is possible that the most valuable asset owned by a senior is a simple life insurance policy purchased many years ago — and...

The financial services industry and the country overall, even with variants of the virus becoming more prevalent, are more optimistic than ever that a return to “normalcy” is obtainable in the short-term. To that end, the Welcome Funds team has identified five developments for financial advisors to monitor as we continue through ...

Most seniors who own a life insurance policy did so years ago to provide financial security for their families. However, as children grow older, their need for such protection and the desire to continue paying premiums changes. The life insurance po...

The only way for seniors to properly deal with medical debt without simply transferring it to their high-interest credit card — or ignoring it entirely — is to produce income flow from previously untapped sources.   One of those assets, such as a life insurance policy, could turn out to be a previously unknown source of money.

Many seniors are aware that they can take out a reverse mortgage on their house to generate a line of credit but few are aware that an unneeded or undesired life insurance policy can be turned into cash through a life settlement transaction. Because...

As people enter their retirement years, they tend to think that the albatross of “financial planning” can finally be removed. They have worked hard their entire lives, saved a little money along the way, sought out the professional guidance of a financial advisor, and hoped they could stash away enough money to enjoy their golden...

Life insurance is one of the oldest financial products in the Western Hemisphere. Since the first life insurance policies were offered in the early-1700s, there is one overriding factor that determines cost to the consumer: the projected life expectancy of the insured.

Financial advisors to high net worth clients are becoming more familiar with the life settlement option — helping sell a life insurance policy to an investor for a cash payment as an alternative to maintaining, lapsing, or surrendering a life insur...

After seeing an ad from a direct buyer on TV, Dave was surprised to learn that his life insurance policy could be sold for a cash payment. Dave contacted the direct buyer who offered him $43,000. Before proceeding with that offer, Dave contacted hi...

A financial advisor working with a retired client will routinely review his assets and liabilities to help him achieve his personal goals.  Such goals include generating cash flow for retirement funding, supporting charitable giving interests, or le...

A small business was filing for bankruptcy and its assets were being reviewed. The company’s financial advisor helped the partners identify the value, which they did not know existed, contained in its key man life insurance coverage.

Ronald purchased a $300,000 Universal Life policy back in 1999 to provide his wife with financial security. Unfortunately, after 20+ years, Ronald could no longer afford the premium payments as his healthcare costs were mounting.

After paying premiums on his life insurance policy for years, Larry’s liquidity needs and health changed significantly. Times were tough, so to maintain his savings, Larry decided it was best to lapse the coverage. Thankfully, Larry’s advisor con...

Margie purchased a 20-year level, convertible Term life insurance policy at age 48 to provide her daughter with financial security. Twenty years later, the term premium was set to increase dramatically and Margie's family could not afford to maintai...

Most financial advisors have experienced first-hand clients having negative perceptions of the life insurance industry. In fact, one survey from E&Y found that American consumers had less trust in U.S. insurance companies than all but one other major...

Jerry purchased a $500,000 Universal Life policy seven years ago to provide his wife with “peace of mind.” Unfortunately, he could no longer afford the premium payments and contemplated letting the policy go. Jerry’s wife saw a TV commercial fr...

In previous generations, it was common for a hard working citizen to secure a job at a stable company, be employed by the same organization for decades, and then retire one day with the proverbial gold watch and a nice pension to supplement monthly Social Security checks.

A traditional way to leave a legacy is to establish an estate plan. It ensures that any remaining money upon passing away is left to predetermined, designated people (or causes), who in turn can enrich their own lives and potentially, the lives of others. However, many financial advisors help their clients experience the joy of g...

The U.S. life settlement market — in which seniors are able to sell existing life insurance policies that they no longer need or can afford to institutional investors as an alternative to lapsing or surrendering the policy back to the insurer — e...

Consumers who have purchased a “permanent” life insurance policy — such as whole life or universal life — are familiar with a distinctive number on their regular account statements from their insurance carrier. Unfortunately, many people are ...

A study released by the American Cancer Society in May 2019 found that the high cost of health care in the U.S. is causing financial hardship for more than half of all American adults. Based on data collected from the National Health Interview Survey, the study documented that 56% of adults reported at least one instance of financial...

Many people subscribe to the adage of “buy term, invest the difference” when deciding what type of life insurance to buy for their family’s financial protection. It may be a smart strategy for some consumers, but only if they are informed abou...

CIients who own life insurance policies that are obsolete — or simply own a policy they no longer need or can afford, for whatever reason — need to work with an experienced life settlement broker who can help evaluate those policies in the afterm...

Most investors in the stock market understand the danger of “market timing” — trying to choose the right day to buy a stock when the price is low and sell it when the price is high.

Consumers who sell their life insurance policies in the life settlement market receive as much as seven times more money than they would have received by surrendering their policies back to the insurance companies.  Seven times!  However, an estima...

Most professional advisors who explore the potential sale of an unwanted life insurance policy on behalf of their clients will rely on the assistance of a licensed life settlement broker. Life settlement brokers represent the policy owner in the tran...

Professional advisors with clients who no longer need or wish to maintain a life insurance policy have options when exploring the secondary market.  Many advisors prudently rely on a licensed life settlement broker to assist them in the sale of the policy and with all aspects of the transaction.  However, there is still a large num...

When a professional advisor identifies a life insurance policy that a client no longer needs or wishes to maintain, he should ask, as standard protocol, whether that policy may have value in the secondary market. If so, the client may be able to sell...

When you decide to sell a valuable personal asset, you usually want to obtain the highest purchase price for that property. It is sound business sense. However, how do you truly know when you have reached the point of accepting and securing the most desirable offer?

All eyes in the life insurance agency and the financial advisory world have been on New York, where in the summer of 2019, the New York State Supreme Court paved the way for implementation of Insurance Regulation 187.  This rule imposes a new standard for agents and brokers when issuing a recommendation to a client regarding an annu...

Traditionally, estate planning advisors counsel their high net worth clients to obtain life insurance policies with large death benefits. The strategy is simple: create a vehicle for heirs to receive tax-free income at the time of an insured’s passing so sufficient funds are available to pay large estate tax bills when assets are i...

Welcome Funds has the privilege of working with numerous financial advisors and wealth managers – and have done so for two decades – some who exclusively focus on servicing high net worth clients. One such advisor who is active in the life settle...

Mr. Williams purchased $10 Million in life insurance coverage in 2001 to provide his family with financial security. Over time, his financial priorities changed: his wife passed away, his children became financially independent, financial burdens a...