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Betty's Corner


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Life Settlement An Increasingly Common Way To Pay For Retirement

Peppercoin Insurance

Baby boomers are increasingly considering their insurance policies as a source for paying for retirement. They can sell unneeded life insurance policies for a portion of the face amount. This is known as a life settlement and according to reports it has become more practiced in recent years as a viable financial option for aging baby boomers.

Even Betty White is getting in on the action. The 90-year-old actress and recent SAG Award winner for the “Best Female Actor in a TV Comedy Series” appeared in a YouTube video about this concept. The video has received more than one million hits. “It’s the hottest program for spicing your golden years,” says White.

International Communications Research conducted a survey on the subject and found that 79 percent of people felt that life settlements was something insurance professionals and financial planners should be telling their clients about. More than half say they’re worried they’ll have to keep working after the age of 65. “Many people didn’t know selling their life insurance policy was even an option; however, boomers are demanding more education from their financial advisers, said Wm. Scott Page, president and CEO of The Lifeline Program. A recent Associated Press report found that 44 percent of baby boomers lacked confidence in being able to retire.


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