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Life Settlements and Viaticals | Mason Finance | Sell your

Learn everything you need to know about selling your life insurance policy. Mason Finance is a licensed buyer for both life settlements and viatical settlements. Get your instant policy value estimate today.

Actived: Wednesday Jan 20, 2021

URL: https://www.masonfinance.com/

Mason Finance - Sell Your Life Insurance

Details: Selling your life insurance is relatively simple and is formally referred to as a life settlement. We’re simplifying the life settlement process to help people avoid lapsing their valuable policies. In a life settlement transaction the life insurance policyholder transfers ownership to a life insurance policy buyer known as a provider.

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Sell your Life Insurance Policy [Cash Estimate] Mason Finance

Details: To sell your life insurance policy to a third party, contact a licensed life settlement company.They will provide an offer based on your age, health, and policy. If you sell, you will receive a cash payment that is larger than the cash surrender value but less than the death benefit.

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What We Do - Mason Finance

Details: Mason Finance is the leading Life Settlement and Viatical company. Mason Finance helps qualified life insurance policy owners, find the leading licensed life settlement broker or provider.

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Mortgage Disability Insurance: What you need to know

Details: The Mortgage Disability Insurance Alternative. If you cannot qualify for standard disability coverage, then you may still be able to get a limited amount of protection from mortgage insurance coverage.This type of insurance is similar to mortgage life insurance, which is designed to pay off the mortgage if you die.

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How Much is My Life Insurance Policy Worth? - Mason Finance

Details: Life Insurance Policy Valuation Factors. Some of the factors that go into determining the value of your life policy include: Face value – The amount of death benefit that the policy will pay is always a substantial factor in determining the value of a life policy. For example, a policy with a face amount of $1 million will be much more valuable than one with a face amount of $100,000.

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How to Cancel a Life Insurance Policy [Right Way] - Mason

Details: The best life insurance policies may offer a free look period, a short time to review a brand new policy and cancel with no charges. Follow these steps to cancel each type of life insurance respectively: Cancel Term Life Insurance. This type of life insurance policy may build a small value over time, but that value usually isn’t very significant.

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Is Long Term Care Insurance Worth It? - Mason Finance

Details: As with life insurance or health insurance, the older you are, the riskier your policy is considered, and the higher your premiums. Getting a policy at age 45 compared to age 60 can save you $440 a year on premiums for a standard 3-year long term care policy.

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Long Term Care Insurance Pros and Cons - Mason Finance

Details: As the insurance industry learned more about the costs and risks of long-term care insurance, the number of insurance companies willing to issue new LTC insurance policies has dwindled. Genworth is a leader in this type of insurance, but there are still a handful of competitors offering competitive policies.

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How to Handle Life Insurance and Divorce - Mason Finance

Details: (However, term life insurance is a much cheaper form of coverage than permanent life insurance, and it may be ideal for income protection for a specific length of time, such as covering earnings or child support until your kids reach the age of majority.

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Viatical Settlement Taxation [Complete Guide] - Mason Finance

Details: What is a Viatical Settlement? As a reminder, a viatical settlement occurs when a terminally or chronically ill policyholder sells their life insurance policy to a third party. The price agreed upon is typically higher than the cash surrender value but smaller than the death benefit.

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How to Use Life Insurance for Retirement Income - Mason

Details: A cash value insurance policy can be an excellent resource to draw from if all you need is a boost in your monthly income. This is true regardless of what type of permanent life insurance product you have. It could be a whole life insurance policy, a universal life insurance policy or a variable universal life insurance policy.

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Tips for Using Life Insurance to Pay Off Debt - Mason Finance

Details: Insurance policies also typically go up in price with age and health problems. A new term life policy probably costs more than your old one, so don’t give up those life insurance benefits until you’ve discussed it with your family and understand your life insurance rates to get the same coverage amount in a new life insurance policy.

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Life Settlement Companies - Sell Your Life Insurance

Details: The first step to selling your life insurance policy is to contact a trusted life settlement company. There are more than 30 companies that buy life insurance policies and even more brokers who can help you find a buyer and navigate the process.

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Can I Sell My Term Life Insurance Policy [For Cash

Details: How a Life Insurance Settlement Works. A life settlement is the process of selling your life insurance policy to a third-party company or investor for cash.. The average payout in a life settlement option is 22% of the policy’s face value.That said, it can range between 10% and 50% depending on various factors, including your age, life expectancy, and policy details.

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Life Settlement Taxation [Full Walkthrough] - Mason Finance

Details: Selling your life insurance policy is a great way to get cash that can improve quality of life later during retirement. But before you pull the trigger and take advantage of this hidden asset, you need to understand the tax consequences of selling your life insurance .

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Cash Out Life Insurance Policy [4 Ways to Cash In Today]

Details: If your life insurance policy has been classified as a MEC (Modified Endowment Contract), then your withdrawals will be subject to taxation. MECs are taxed in the same manner as annuities, and all initial withdrawals from them are considered to be taxable interest until you have withdrawn enough money to start dipping into your principal.

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Own-Occupation Disability Insurance - Mason Finance

Details: Types of Disability Insurance. Disability insurance can be categorized in a couple of different ways. One method of classification is by the benefit period and elimination periods of the policy. Short-term disability coverage usually has an elimination, or waiting period of anywhere from two weeks to 90 days, depending upon which policy you use.

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What is Insurable Interest in Life Insurance? - Mason Finance

Details: Insurance interest is a basic requirement needed to make any life insurance contract valid. While this was not always the case, modern law has evolved to create protections for the insurance industry against persons betting on the lives of others.

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How Does a Life Insurance Buyout Work? [Full Guide

Details: A life insurance buyout is when a life insurance policyholder sells their life insurance policy for a cash payment. Life insurance buyouts are often called life settlements. While most life insurance policies don’t make any payouts while you’re alive, you may be able to sell your life insurance policy while alive for a lump-sum or regular

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Chronic Illness Rider [Guide] - Sell Your Life Insurance

Details: If you have a permanent life insurance policy, such as universal life or whole life, you may have to put your insurance policy through a form of conversion before you can access benefits from a rider. With term life insurance, the payout process for a rider is a bit simpler than with permanent life insurance.

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Life Insurance Grace Period: Facts to Consider - Mason Finance

Details: What is a Life Insurance Grace Period? A life insurance grace period refers to the period of time after premium payments are due, during which the policy is still active. It is also commonly referred to as a “lapsation grace period” as it is technically delaying an insurance policy lapse by the length of the grace period – typically 30 days from the premium due date.

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Viatical Settlement - What are Viatical Settlements

Details: Some insurance companies still allow for an accelerated death benefit without the rider. An ADB allows the insured to receive a certain percentage of the policy’s death benefit while they are still living. The percentage is determined by the insurance contract and life expectancy, but is usually 25-95% of the policy’s face value.

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Modified Endowment Contracts: A Unique Form of Life Insurance

Details: This test is designed to ensure that for a life insurance policy to remain valid, the difference in dollars between the cash value in the policy and the death benefit must be at least a certain amount at all times. History of Modified Endowment Contracts. In the late 1970s, many life insurance companies sought to leverage the tax-advantaged

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How Business Life Insurance Works - Mason Finance

Details: Whole life insurance is the most conservative type of life insurance, and the insurance company pays dividends into the cash value in your policy on a regular basis. Universal life insurance is more flexible and pays interest into your cash value instead of dividends.

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Surrender Life Insurance Policy: Is it right for me

Details: This process is the same for both permanent life insurance (such as whole life and universal life) and term life insurance. Understanding Cash Surrender Value If you are canceling something other than a term policy , you will probably have a small amount of money left after cancellation.

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Sell Whole Life Insurance Policy for Cash - Mason Finance

Details: Term Life Insurance. Term life insurance is sometimes referred to as “pure life insurance” because it has no other value than to provide dependents with a monetary benefit after the death of the insured. With a term life insurance policy, policyholders make premium payments for a given length of time (known as the “term”).

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When Does a Life Insurance Policy Lapse? [And Why

Details: Life Insurance Grace Periods. In the U.S. all life insurance policies are legally required to honor a grace period, typically 30 days from the payment due date, during which time your life insurance company must pay the death benefit, despite lack of premium payments.During a grace period, the policyholder may also make a late payment to resume insurance coverage.

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Long-Term Care Insurance [The Complete Guide] - Mason Finance

Details: Health insurance covers medical expenses, hospital bills, and medical procedures. Long-term care insurance is specifically for in-home assistance, nursing homes, and similar care methods. With a long-term care insurance policy, insurance companies typically set a maximum daily benefit and a maximum monthly benefit in your policy.

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Are You Paying for Too Much Life Insurance? - Mason Finance

Details: Life insurance is an important part of your personal finances, but is there such a thing as too much life insurance? The answer is a big yes. While far more people are underinsured than overloaded on insurance, getting too much life insurance leads to big, unnecessary monthly premiums.

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What Is a Life Insurance Beneficiary? [Who Can It Be

Details: In a life insurance policy, a beneficiary is the person or organization that receives the life insurance death benefit upon the passing of the insured policy owner. They are the individuals or organizations directly paid by the life insurance company, and are contractually entitled to the life insurance proceeds.

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Life Settlements [What is a Life Settlement?] Mason

Details: Terms to Know. Life Settlement – The transfer of a life insurance policy from a policyholder to a third party investor for a cash payout.; Cash Surrender Value – The amount of money a policyholder receives if they cancel a policy. The total amount received is the policy’s cash value minus fees associated with policy cancellation.

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What is an Accelerated Death Benefit? [Full Guide] - Mason

Details: The exact proportions vary with every insurance provider, but as a rule, the amount of the policy advanced is always greater than the amount actually paid to the policyholder. Example: For example, let’s say John owns a policy with a face value of $500,000. He files a claim to accelerate his death benefit, and the life insurance company

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How to Decrease Term Life Insurance [Guide] Mason Finance

Details: Decreasing term life insurance is, as the name states, a term life insurance policy with a death benefit that shrinks over time. It was created with the notion that the insured’s need for coverage will decrease over time, as he or she accumulates assets and pays down debt.

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How Does a Long-Term Care Rider Work? [Full Guide] - Mason

Details: Whether you have term life insurance or permanent life insurance, sometimes called whole life insurance, there are some similarities and differences between how the riders work. With term life insurance, using a long-term care rider will simply lower the future death benefit from the insurance policy.

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Calulcate the Cash Surrender Value in Life Insurance

Details: The cash surrender value in your life insurance policy is essentially the amount of cash that you can withdraw if you surrender your policy to your insurance company and allow it to lapse. This amount can vary according to a variety of factors.

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Is Disability Insurance Worth It? Let's Find Out - Mason

Details: Mark Cussen is a financial counselor with more than 13 years of experience and has professional designations as a CFP®, CMFC and AFC. Mark has worked in all segments of the financial industry from investment management to mortgage loan origination, life insurance and annuities, financial planning and income tax preparation.

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Disability Insurance Elimination Period - Mason Finance

Details: Short-term disability insurance is much more expensive than long-term disability insurance because the incidence of claims for short periods of time, such as 30 to 60 days is much higher than for long-term claims. The average long-term disability claim lasts for about 35 months, but happens far less often than short-term claims.

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3 Things to Know About Selling Your Life Insurance | Mason

Details: Selling your life insurance can be a little complicated, especially to those who are new to the concept. To help you better understand how this works, here are four important things to know about life settlements that are often misunderstood. 1. You have many options other than surrendering your life insurance policy.

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Seniors Missing Out On $51,300 Each and Every Year | Mason

Details: Every year, roughly 250k seniors are missing out on the opportunity to cash in on an estimated $51,300 each by selling their life insurance policies via a life settlement. When you add it all up that’s $13 Billion dollars that seniors are missing out on each and every year because they don’t know that they can sell their life insurance policies.. A huge sum regardless, the figure is even

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Benefits to Selling Your Life Insurance Policy | Mason Finance

Details: If you didn’t, you’re not alone. Most Americans don’t realize that they can sell their life insurance just like any other personal property. Your life insurance policy might be worth as much as your home! We’ve created the following infographic to highlight 5 fantastic benefits of selling your life insurance. Share this Infographic On

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Life Settlement Providers: Top 5 Options | Mason Finance

Details: Unfortunately, there isn’t a lot of information out there — which is challenging if you want to sell your life insurance policy directly to a provider to avoid paying fees. That’s why we at Mason Finance tested, called, and researched to find the 5 best direct to consumer life settlement providers out there.

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Different Types of Life Insurance [Clearly Explained

Details: Permanent Life Insurance. Permanent, or cash value life insurance is designed to provide lifetime death benefit coverage for the insured(s) who purchase it.A permanent policy is considerably more complex and expensive than term insurance.

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Viatical Settlement vs. Life Settlements - Mason Finance

Details: A viatical settlement is the sale of a life insurance policy where the insured person is either terminally or chronically ill. In order to understand the difference between a viatical and a life settlement, it is important to fully understand the viatical settlement definition.. In this sense there are actually 2 types of viatical settlements.

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Can You Have Multiple Life Insurance Policies? [How

Details: Flexibility of Life Insurance. However, as life insurance is designed to exist over the course of the policyholder’s lifetime, it is unique in that it follows an individual through decades of their life, and ideally does not ever lapse (you may move to New York City and forgo car insurance, but you’ll never be without your life).

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Medicaid Life Insurance Settlements [Full Walkthrough

Details: The National Association of Insurance Commissioners (NAIC) adopted a study that recognized life settlements as a viable option to fund private long term care. This is highly unusual for the NAIC an association that has long been unfriendly to the life settlements industry given its historically close relationship with large life insurance carriers.

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How to Borrow From Your Life Insurance - Mason Finance

Details: What is a Life Insurance Loan? Simply put, a life insurance loan is a loan that you take out using the accumulated cash value in your life policy as collateral. A life insurance loan is only available in cash value policies such as whole life insurance, universal life insurance or variable universal life insurance.

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Reverse Life Insurance vs. Life Settlements vs. Viaticals

Details: Other solutions under the reverse life insurance umbrella include Medicaid life settlements, which convert a policy into a secured benefit account to pay for long term care and life insurance advances, which give owners cash advances against the value of their policy.

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Term vs. Whole Life Insurance [What's the Difference

Details: Whole Life Insurance. Whole life insurance is the simplest and oldest form of cash value policy, and its premiums and death benefit remain at a fixed dollar amount, regardless of how much it accumulates in cash value.

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Long-Term Disability Insurance: Why it's important - Mason

Details: Long-term disability insurance will play a critical role financially if you become disabled. Finding out more information is key. There is a real risk in losing your primary income due to an injury or illness. Long-term disability insurance will play a critical role financially if you become disabled. Finding out more information is key.

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Life Insurance Settlement Options [Full List] Updated 2020!

Details: If your life insurance premiums no longer fit your budget, consider selling your life insurance. Selling your life insurance for cash is known as a life settlement. By selling your life insurance policy in a life settlement, you gain more than you would by surrendering your policy, and you can also potentially hold onto some of your policy

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