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Retirees who struggle to meet income needs can look to life settlement 2010-02-11 The topic of retirement income has become particularly salient in recent months, with the stock market on a seeming roller-coaster ride and many people's savings decimated. The growing concern about savings adequacy suggests that more people may need to take out a life settlement in the future. A recent research report from Aite Group estimates that the market for life settlements will grow to $13 billion this year - a sharp increase from last year, when an estimated $8 billion in settlements were written. And settlements can result in significant payouts for original policyholders, Aite Group said: Standard life settlements result in an offer equivalent to 18 or 20 percent of a policy's death benefit. The instruments aren't for everyone. Older people who want to leave their life insurance policy to heirs may want to hang on to their coverage, for example. And it's best to consult a trusted source of information before moving ahead with a life settlement or other major decision. For some people, though, settlements can be a useful way to meet a savings shortfall or pay medical expenses.  |
