Life Insurance Settlements Help Seniors Get Much Needed Cash Out of Unneeded Policies
Detailed information about Life Insurance Settlements for seniors is now found on the NewRetirement.com website. Life Insurance Settlements are a recent innovation that let seniors take life insurance policies and turn them into cash. Life settlement brokers can offer more value than the insurance providers, which only offer a cash surrender value.
San Francisco, California (PRWEB) July 18, 2007 -- Today NewRetirement.com, an education and advocacy website for retirement planning, launched a new series of articles introducing life insurance settlements. Life insurance settlements allow seniors to sell unwanted life insurance policies for cash. Retirees can capture more value by using the life settlement than they would by simply turning their policy over to their insurance provider for its stated cash surrender value -- often three to five times the cash value. In fact, most often either the insured lets the life insurance policies lapse or the beneficiaries simply never collect the benefits.
Most visitors to NewRetirement.com are seniors who are looking for ways to improve their financial well-being in retirement. Using a life settlement is a relatively new option for retirees to improve their financial status. Seniors nearing seventy or older who own a life insurance policy that they no longer need are the best candidates for this product. Generally speaking, eligibility is dependent upon age and health of the individual and the face value of life insurance policy they hold. NewRetirement's article "Assessing Eligibility" details all the factors used by policy buyers to evaluate eligibility. Individuals should contact a reputable life settlement broker to determine if they are eligible for a life insurance settlement.
To help protect seniors from unscrupulous brokers, NewRetirement.com's life settlement section includes a 9-point checklist to use when evaluating a life settlement broker. In addition, at the visitors' request, NewRetirement.com can also put them in contact with qualified pre-screened brokers that will generate quotes from competing buyers. The competition helps maximize the return on the policy for the insured. The senior life settlements section is rounded out with one article providing information that describes when to use or avoid life settlements and another outlining what to expect in the application process.
The NewRetirement website covers a variety of other retirement financial services and products: reverse mortgages, mortgage refinancing, debt consolidation, annuities, relocation, financial advisors, supplemental health care insurance and long term care insurance.
NewRetirement.com also offers a proprietary data analysis engine, presented in the form of a retirement calculator. This free retirement calculator interactively responds to visitors' input with customized presentation of financial planning options matched to their specific situation. A user can save their data to continue working at another time, or return to update it once their situation has changed. For example, they can calculate how much longer their retirement income might last after securing a reverse mortgage.
About NewRetirement LLC. NewRetirement LLC was founded in 2004. NewRetirement's management team has experience and education from several nationally known organizations. Among these companies are: Charles Schwab, JP Morgan, Embark.com, Wells Fargo, E-Trade, The Princeton Review, BusinessWire, AllAdvantage.com, Insurance.com, Viant Consulting, Williams Sonoma, Seer Technologies (IBM/First Boston), and US Web, among many others. The team includes graduates from: Stanford's Graduate School of Business Administration, the University of Michigan's Graduate School of Business Administration, Boston University, Haverford College, Carnegie Mellon and several others.
NewRetirement.com's corporate headquarters is located at 100 Pine St, Suite 2250, San Francisco, California 94105. Paul Lowrey, Director of Marketing, can be reached at 415-738-2435. Email inquires email should be sent via the site's Contact Us page. The website URL is www.newretirement.com.
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