Should You Take Advantage of a Viactical Life Settlement?
Retire On Track LLC.
The term viactical life settlement is relatively new, and therefore requires a little bit of explanation. A viactical life settlement is used in two situations. The first is for those who have been diagnosed with a terminal illness who are looking for a way to finance the care that they need in order to be less of a burden on their loved ones. The second is for those individuals who are older, retired, and who can no longer afford to keep paying the premiums for their life insurance policies.
With a viactical life settlement, what often happens is that a retiree approaches a broker and, in effect sells their life insurance policy. While this may initially sound like a good idea, it is important to consider that often, the sales price will be about one third the value of the policy. For those who are desperate for income - those who do not have an adequate retirement income because their savings and investments strategy did not work out the way that they had hoped that it would - a viactical life settlement may not be a bad option.
However, for those who are younger, healthy and able to take control of their retirement planning, taking advantage of a viactical life settlement is really not an option that should be considered. By understanding the different savings accounts that are available to you, by taking the time to know how much you of your current income you are able to set aside to save for and invest in your retirement and by understanding investment strategies, it's possible to avoid having to ask the question "should I take advantage of a viactical life settlement."
In order to develop that understanding, it is important to have the right tools and the right advice. By clicking through at the bottom of this page to download the free retirement calculator you will be able to gain access to both of these things.
With the retirement calculator, you will be able to look at the ways in which you are saving for retirement. You will be able to enter simple information about your accounts as they are now, the amount that you are regularly contributing and the rate of interest to see how your savings will accrue over time. Likewise, you will be able to enter information about your investments to see how they have performed in the past and to see projections for how they will perform in the future.
As for the advice you need, when you download the free retirement calculator, your contact information will be sent to a financial advisor in your area. He or she will then give you a call to follow up - answering questions that you have about savings, investments and even viactical life settlements and how they relate to you. You will also be able to get advice that will help you to see what strategy you should put into place to reach all of your retirement goals.
With the right tools and the right advice, it becomes far easier to make the right choices; see for yourself. Click to download the free retirement calculator to get started.