Life insurance policy for cash
As we go into the new year of 2014, many people are strapped for cash. They start looking at all the possible places they can scrape up money. Many people start asking for refunds on things they purchased to see how much cash they can gather. Some people start selling off assets. You can even sell a life insurance policy. It’s called a life settlement. A Life Settlement is the sale of a life insurance policy to a third party in exchange for a cash settlement in excess of the policy’s cash surrender value, even if there is none. This is also called and insurance settlement or senior settlement. This is an innovative wealth and estate planning too. It takes away the burden of expensive insurance premium payments and provides a lump sum cash settlement. This allows policyholders to get cash out of their life insurance policy, in an amount in excess of the policy’s cash value (if any), while they are still alive. Read more
Those who put away their fears and step out into the risky world of small business take on many hats. Most often, these folks become the worker bees, the accountants, the human resources office and a myriad of other titles all in one fell swoop which begins with the creation of their business.
Sometimes, this very stressful and work-heavy lifestyle is almost preferred to the moment when the business begins to grow and others come underneath its umbrella. Up until that moment, failure would be highly personal. Sure, it would be horrible, but at least other families and lives wouldn’t be irrevocably altered by the business ceasing to exist.
Many business owners find relief through making personal investments which will back up their business if the worst were to happen. While this isn’t foolproof, it certainly would provide a much needed cushion in the event of some catastrophic event negatively affecting the business. Read more