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If you want to convert your life insurance policy to an annuity—or are thinking about it—there are some key things to take into consideration. Imagine this scenario: Tom will retire in a few years. Decades ago, he opened a life insurance policy to provide security for his young family. His children are grown now and […]
The post How to Convert Your Life Insurance to an Annuity appeared first on SeniorNews.
Your term life insurance is about to expire, you’re retiring, and the kids are gone. This is a good time to determine your insurance needs and weigh your options. Here’s how to choose the best course of action for your ending-soon term life policy. Start with these 3 questions: Do loved ones need your financial […]
The post Our Term Life Insurance Is Expiring. Now What? appeared first on SeniorNews.
Final expense insurance is an option you may consider as you organize your retirement details. In the event of your death, having a plan in place can help family members take care of your funeral and related expenses—without financial stress. But where do you start? There are many options to cover end-of-life costs. Additionally, talking […]
The post Final Expense Insurance: Is It Right for You? appeared first on SeniorNews.
We’ve all heard the horror stories about working with the Department of Veterans Affairs, affectionately known as the VA, especially when it comes to VA pension applications. You send in your paperwork and it either drops into a black hole never to be seen again or you end up in an infuriating back-and-forth game of […]
The post Top 10 Ways to Delay Your VA Pension Application appeared first on SeniorNews.
Do you own an annuity? Annuities are a complicated subject and even more so when it comes to their effect on the Medicaid or VA Aid and Attendance application process. How can an annuity impact a person’s ability to qualify for Medicaid or VA benefits in the future? Before I answer the question, let’s start […]
The post Annuities and Qualifying for Public Benefits appeared first on SeniorNews.
In the past, to avoid exceeding Medicaid’s income and asset limits, many individuals transferred their assets into the name of other relatives, particularly when nursing home care was immediately needed. Now, Medicaid takes into account all asset transfers made in the preceding five years prior to an application for Medicaid benefits (this period is called […]
The post Can I Get Medicaid if I Transfer All of My Assets to My Spouse? appeared first on SeniorNews.
