Are We Protecting Our Elderly in Today’s Economy?

I recently wrote a blog post about our elderly having to go back into the workforce to manage their lifestyle – housing, food, medical, etc. This is happening more and more, and it’s painful for families to assist their loved ones while trying to simply pay bills and try to keep up with inflation within their immediate family. The world is facing the worst inflation in decades, and there are things we can do to help reduce the pain points for many of our elderly citizens.

As I am in the business of wealth preservation, I am always using my network of subject matter experts to assess what can be done to help families and businesses – especially during market upsets and times of extreme rising costs to just get by every day.

Many people don’t realize is that if you have a parent who is currently retired and who has an asset class in his/her portfolio of life insurance there may be a way to save their legacy and provide some relief for their current situation.

Understanding that life insurance is an asset of real property just like real estate is not something that really gets talked about much – even when the person becomes an owner/insured in the policy. (The reason life insurance seems scary to some folks is because we as professionals have done a poor job of educating the public). Life insurance can be sold; and there are companies out there who are willing to find buyers and relieve one from their policy. That said, there is often not a great deal of intake done to ensure that selling is the best option. There are alternatives to selling that may be better-- that allow the owner to remain insured, keep the policy and reduce their premiums.

How do you know if you need an assessment?

If you have a permanent life insurance policy, you may have cash accumulation. Some policies allow an indexed loan against the cash accumulation. You can pay it back, or not, it reduces the death benefit and can potentially cause a lapse if not paid back.

If you have a policy and are experiencing a significant increase in your premium, know your options.

You can have an audit performed on your policy that will allow a team of experts to determine what your next step should be and how to continue your coverage or cash out to have some liquidity. Sometimes it’s a matter of lowering the death benefit which will impact premiums but also keep some protection in place. Keep in mind that doing nothing is the worst option. Understanding what your options are through an expert audit process costs you nothing and may improve your situation tremendously to provide peace of mind.

We believe you should always have a say in what happens to your money. Reach out for more education and take control to protect yourself and your loved ones.

For a fee waived consultation, email us at or call 775-298-5340.

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