Does Your Client’s Financial Plan Include Life Settlements?
As you plan for a client’s retirement, it is important to consider various factors to ensure adequate liquidity for their financial needs.
Here are several important considerations to keep in mind:
- Social Security: Is it in your client’s best interest to delay receiving Social Security payments or might they be better served to receive social security payments as soon as possible?
- Reverse Mortgage: If loved ones are counting on inheriting the value of the home, be sure to assess the implications of a reverse mortgage on their inheritance.
- Employment: Evaluate whether there is a need for your client to continue working, if so, for how many years? Or if there are alternative ways for supplementing income during retirement.
- Life Settlements: A life settlement allows policy holders to receive cash today by selling their life insurance policy while also eliminating the expense of paying premiums. A life settlement can provide immediate liquidity that can then be used by your client in a variety of ways during retirement.
Do your clients know how much their life insurance policy is worth to them while they are alive? A life settlement valuation is an important part of your clients’ retirement planning.