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Money Talks! with Lynn Kitchen
Приєднався 9 лис 2022
The Best Financial Clinic for Women That Lasts a LIFETIME!
Money is the #1 source of stress for women.
In contrast, taking action to learn more is the #1 driver toward money confidence and financial well-being.
I want this to be EASY & PRODUCTIVE FOR YOU, and also PERSONAL & PERMANENT! Small group classes allow personalized Q&A, plus what you learn here helps you make smarter money decisions for a LIFETIME.
Money is the #1 source of stress for women.
In contrast, taking action to learn more is the #1 driver toward money confidence and financial well-being.
I want this to be EASY & PRODUCTIVE FOR YOU, and also PERSONAL & PERMANENT! Small group classes allow personalized Q&A, plus what you learn here helps you make smarter money decisions for a LIFETIME.
Hidden Wealth in Life Insurance Settlements on Money Talks - Ep 133 Lynn Kitchen and Lisa Rehburg
As I kicked off this episode of "Woman Building Wealth, Money Talks," I knew I was about to unveil a financial gem that many of my listeners might have overlooked. Today, we're diving into the world of life insurance settlements, and I couldn't be more excited to share this knowledge with you all.
You see, I've always believed that true financial empowerment comes from understanding all the tools at our disposal. And life insurance settlements? They're like the hidden compartment in your financial toolbox that you never knew existed.
As I sat down with my guest, Lisa Rehburg, I could feel the energy of discovery in the air. We started peeling back the layers of this lesser-known financial option, and I was struck by how it could transform a dormant insurance policy into a valuable source of cash flow. It's not every day that you find a way to unlock hidden value in something you've had all along!
Throughout our conversation, Lisa and I explored the nuts and bolts of how these settlements work. But what really got me fired up were the real-world examples we shared. Stories of people who found financial relief through this method reminded me why I do this podcast - to help women uncover pathways to building wealth that they might never have considered.
What became clear as we talked is just how underutilized this option is. I couldn't help but think of all of you out there who might be sitting on this potential goldmine without even realizing it. It's moments like these that remind me why financial education is so crucial.
As we wrapped up the episode, I felt a sense of excitement. We'd just equipped our audience with knowledge that could provide them with much-needed liquidity during crucial times. It's not just about the money - it's about the peace of mind and the opportunities that come with understanding your financial options.
What Are Life Insurance Settlements?
Life insurance settlements, also known as life settlements, are a financial maneuver where a policyholder sells their life insurance policy to a third party for a lump sum cash payment. Much like selling any tangible asset, such as a car, the seller receives immediate cash, while the buyer acquires the right to the policy's death benefit.
Every year, about 2.5 million seniors lapse or surrender their life insurance policies. This means countless individuals are potentially leaving significant amounts of money on the table by not exploring life settlements. Life insurance settlements allow policyholders to capitalize on their policies, providing liquidity when needed the most.
How Do Life Insurance Settlements Work?
Understanding the mechanics of life insurance settlements can demystify this financial option. Here’s a step-by-step breakdown of the process:
1. Assessment: The policyholder's life insurance policy is evaluated. Factors such as premiums, death benefit value, and the insured’s health (life expectancy) play a crucial role.
2. Market Offerings: Professionals, often known as life settlement brokers, market the policy to potential buyers to secure the highest possible bid.
3. Transfer of Ownership: Once a buyer is identified, the ownership of the policy is transferred. The policyholder receives a lump sum cash payment, and the buyer assumes future premium payments and becomes the beneficiary.
The Car Analogy
Think of selling a life insurance policy like selling a car. You pay the premiums (like car payments) for years, and when you decide to sell, you transfer ownership (the car’s “pink slip”) to the buyer. The buyer assumes all responsibilities, continuing the premiums (or maintenance) and eventually reaping the policy’s death benefit (or using the car).
Benefits of Life Insurance Settlements
Life insurance settlements offer several benefits, providing financial relief and flexibility:
1. Immediate Cash: Policyholders receive a lump sum payment, which can be a financial lifeline for those facing unexpected expenses.
2. Relief from Premiums: Once the policy is sold, the policyholder no longer needs to pay the ongoing premiums.
3. Maximized Value: Often, the settlement can be significantly higher than the surrender value offered by insurance companies.
Real-Life Example
Consider a scenario where a policyholder is facing financial strain, perhaps due to a divorce or unexpected medical expenses. Instead of surrendering the policy for a minimal amount, they could opt for a life insurance settlement, potentially securing tens of thousands of dollars. This can be a game-changer, offering a way out of financial hardships.
Read More...
You see, I've always believed that true financial empowerment comes from understanding all the tools at our disposal. And life insurance settlements? They're like the hidden compartment in your financial toolbox that you never knew existed.
As I sat down with my guest, Lisa Rehburg, I could feel the energy of discovery in the air. We started peeling back the layers of this lesser-known financial option, and I was struck by how it could transform a dormant insurance policy into a valuable source of cash flow. It's not every day that you find a way to unlock hidden value in something you've had all along!
Throughout our conversation, Lisa and I explored the nuts and bolts of how these settlements work. But what really got me fired up were the real-world examples we shared. Stories of people who found financial relief through this method reminded me why I do this podcast - to help women uncover pathways to building wealth that they might never have considered.
What became clear as we talked is just how underutilized this option is. I couldn't help but think of all of you out there who might be sitting on this potential goldmine without even realizing it. It's moments like these that remind me why financial education is so crucial.
As we wrapped up the episode, I felt a sense of excitement. We'd just equipped our audience with knowledge that could provide them with much-needed liquidity during crucial times. It's not just about the money - it's about the peace of mind and the opportunities that come with understanding your financial options.
What Are Life Insurance Settlements?
Life insurance settlements, also known as life settlements, are a financial maneuver where a policyholder sells their life insurance policy to a third party for a lump sum cash payment. Much like selling any tangible asset, such as a car, the seller receives immediate cash, while the buyer acquires the right to the policy's death benefit.
Every year, about 2.5 million seniors lapse or surrender their life insurance policies. This means countless individuals are potentially leaving significant amounts of money on the table by not exploring life settlements. Life insurance settlements allow policyholders to capitalize on their policies, providing liquidity when needed the most.
How Do Life Insurance Settlements Work?
Understanding the mechanics of life insurance settlements can demystify this financial option. Here’s a step-by-step breakdown of the process:
1. Assessment: The policyholder's life insurance policy is evaluated. Factors such as premiums, death benefit value, and the insured’s health (life expectancy) play a crucial role.
2. Market Offerings: Professionals, often known as life settlement brokers, market the policy to potential buyers to secure the highest possible bid.
3. Transfer of Ownership: Once a buyer is identified, the ownership of the policy is transferred. The policyholder receives a lump sum cash payment, and the buyer assumes future premium payments and becomes the beneficiary.
The Car Analogy
Think of selling a life insurance policy like selling a car. You pay the premiums (like car payments) for years, and when you decide to sell, you transfer ownership (the car’s “pink slip”) to the buyer. The buyer assumes all responsibilities, continuing the premiums (or maintenance) and eventually reaping the policy’s death benefit (or using the car).
Benefits of Life Insurance Settlements
Life insurance settlements offer several benefits, providing financial relief and flexibility:
1. Immediate Cash: Policyholders receive a lump sum payment, which can be a financial lifeline for those facing unexpected expenses.
2. Relief from Premiums: Once the policy is sold, the policyholder no longer needs to pay the ongoing premiums.
3. Maximized Value: Often, the settlement can be significantly higher than the surrender value offered by insurance companies.
Real-Life Example
Consider a scenario where a policyholder is facing financial strain, perhaps due to a divorce or unexpected medical expenses. Instead of surrendering the policy for a minimal amount, they could opt for a life insurance settlement, potentially securing tens of thousands of dollars. This can be a game-changer, offering a way out of financial hardships.
Read More...
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Thank you Lynn! I enjoyed learning from you !
Glad you enjoyed it!
The only purpose for Tesla (after Elon) was to disrupt the EV industry so that there would be more. He already pivoted to Space X, X and brain chips and ketamine
Love this
Love this !
Love the train sound and getting onboard - Economic Express
No if you could only share this insight with CEOs and the institutions that make them
I literally prayed for her after I watch this.
I have no idea what is she talking about ¿?
Are you looking to increase subs,views,engagement or other specific metrics?
Very powerful and informative talk! Would love to see more <3 keep it up!
Thank you so much Lynn & Miram! I enjoy your light!
Lynn, you are a beautiful soul. ❤
There is no pay gap. Moron leftists. That would literally be illegal. Derp
yes because I've been working for so many years and I have less than 5000 in my 401k 😔 I'm tired of this world
Thank you for sharing such pertinent money management information. I look forward to your videos.... Wednesdays at 9 am PST starting next week! I hope to make it for your live talk!!
I can't find you live!! Only replays.
We are now live on Facebook and Linkedin at 1PM EST on Wednesday!
Money freedom would be the ability to weather any unexpected or expected financial debt or windfall . To be able to do for yourself or others without concern of hardship doing so.
Excellent info!
Parabéns pelos vídeos.
Parabéns pelo canal no UA-cam. Apesar de não saber inglês eu tento traduzir,gosto de conteúdo que fala sobre finanças.sou seu fã 👏👏
Hi 👋👋
This has been very insightful. I wish more UA-camrs take the time to create quality content like this. Thank you for sharing this take. Keep it up!
Acho incrível as mulheres que tomaram suas próprias decisões e tem capacidade de criar e gerenciar seu próprio dinheiro e vida pessoal pra não ficar dependente de outros.
Olá Não falo inglês, porém te acompanho sempre. Faço a tradução pra entender algo, queria muito aprender o inglês ,GOSTO MUITO A SUA LÍNGUA NATIVA. ❤
I don't see a link to register, Lynn.
Hi, Lynn, I am honored to be on your list. Your video is Stellar. Happy to be with you on this journey and I value it and you keep soaring. 🦉🦅💋♥🎤 Cheers!!!