Challenges of Affording Holistic Care
In our society, many have become accustomed to relying on insurance to pay for medical expenses. One of the obstacles to obtaining holistic care or even conventional services like dental, vision, audiology, foot care, mental health, fertility issues, and private nursing care is that it is often not a covered service for many plans, making it out of reach for many. Consider these options that may be available to help you afford what you need.
Health Insurance Options for Every Age
No longer is life insurance an “untouchable” product that must always be held until death. Life insurance is merely one asset within an estate or financial portfolio that should be managed for optimum outcomes. Rather than letting a policy lapse, not converting a term policy, or accepting the carrier’s non-forfeiture options, your policies can be appraised on the secondary market where you learn what the policy is worth in cash and as a paid-up policy.
It would be appropriate to sell a life insurance policy for the following circumstances:
- A policyholder may want to reduce or eliminate coverage to lower premium costs
- The policyholder has outlived the beneficiary
- The policyholder has lost a spouse or divorced
- Disposed of a business or retired from an insured executive position
- Change in estate or tax situation
- Children or other heirs may be more mature and financially independent
- There is a need to raise cash to pay for immediate medical and/or living expenses
- Gifting a policy for philanthropy and having a tax deduction for fair market value
Long Term Care Insurance (Indemnity Policy)