Life Settlements are relatively young transactions in the insurance industry, but you can trace its origins back to 1911. Supreme Court Justice Oliver Wendell Holmes noted in his opinion that "Life insurance possessed all of the ordinary characteristics of property, and therefore represented an asset that a policy owner may transfer without limitation."
Hanging it up at age 60 or 62 sounds like a lot of fun! Wake up when you want to, tee it up once or twice a week and enjoy the grandchildren. Even though I will be 68 on Nov. 2, I'm not quite there yet. I can't buy enough liability insurance to get on the golf course!
In my previous article I discussed the benefits of tax-free exchanges under Section 1035 of the revenue code. Over the years, I have completed more than a few exchanges that truly helped the policyholder. Here are a few examples and one or more of these might apply to you:
One of the provisions of the Revenue Code that is very attractive to life and annuity policyholders is Section 1035. This provision of the Code allows you to transfer the values from a life policy or an annuity to a new contract and defer taxes on your gain. Life policy values may be transferred to a new life policy or a non-qualified annuity. A non-qualified annuity may also be transferred to another non-qualified annuity, but annuity values may not be transferred to a life policy.
Newton County continues to grow, attracting retail shops and industrial and manufacturing plants. The products made here range from the fibers used to make disposable diapers to dry cereals to golf balls.
One of my questions when I get involved in a discussion with people about a financial matter, ObamaCare for example, is "Who is going to pay for all of this?" The topic could also be something like local recreation or the new Braves stadium, and my question remains the same.