Why Life Settlements Are Increasingly Becoming Popular

A resident of New Jersey and CEO and owner of Mid-Atlantic Financial, LLC, Bill Schantz has extensive experience in the insurance industry, having worked with a number of Fortune 500 companies. As the company head, Bill Schantz was involved with introducing life settlements to the capital markets.

Life settlements have increasingly become an option for many seniors who are looking for ways to fund future expenses. Life settlement policyholders can, under certain circumstances, sell their insurance policy tax-free, but in the context of the current pandemic, this tactic for asset management has become an option for many in the mainstream.

Outside of its tax benefits, life settlements can culminate in a person selling an unwanted insurance policy for up to three times its surrender value. Moreover, cash settlements can provide an immediate source of income, which prevents them from dipping into other invested accounts. Then, in the time of COVID, life settlements can help some seniors who have been forced to return to work because their portfolios have suffered from economic impacts.

In both 2017 and 2018, the estate tax exemption was increased, making converting an unwanted policy into cash a better choice. The regulatory environment is such that consumers are provided protections where life settlement policies are concerned. Governing organizations in the insurance industry have established initiatives to make sure policyholders are informed, and most, if not all, states have established disclosure policies for these types of transactions.

Finally, insurance carriers have increased the cost of insurance because interest rates are low. To make up for this revenue, carriers have passed on the charge to customers. For this reason, many policyholders have chosen to sell their policies. 

Turning a Business Idea into a Business Reality

Bill Schantz, a New Jersey-based entrepreneur, owns and manages several companies under the umbrella of Mid Atlantic Financial, LLC. Possessing upwards of three decades of experience, he is a pioneer in new business development. Bill Schantz has always believed that business success is driven by good business concepts and ideas.

Almost everyone has thought of a great business idea, but these ideas rarely become a reality. Often, the first step toward realizing an idea is to turn it into something more tangible. This may include writing the idea down on paper or making a short PowerPoint presentation. Either way, it helps prospective entrepreneurs solidify the specifics and commit themselves more to their business idea.

Once prospective entrepreneurs are fully committed, they must begin by examining the market and making sure their idea could be as big as they think it is. They must consider the demand for their product or service, along with their target market and planned price for what they are selling. These basics give prospective entrepreneurs a clearer picture of their business while giving them the chance to refine their idea and concept.

Beyond this, prospective entrepreneurs must compile a financial plan and business model. During this process, there are several things entrepreneurs must ask themselves, including how customers will pay for the product or service, how their business will interact with customers, and who will be assisting with company activities. Further, the model must be tested and the business brand must be advertised and grown before launch. 

Debunking the Myths of Life Settlement

A New-Jersey based multiple-business owner and insurance executive, Bill Schantz has served in the investment and insurance industry for over 40 years. A highly experienced professional, he owns and operates multiply firms under his umbrella company, Mid Atlantic Financial, LLC. Among the companies in his portfolio are Senior Settlements, LLC, Bedrock Capital Group, LLC, and Harper Financial, LLC. With Senior Settlements, Bill Schantz introduced life settlements as an asset class into the capital market.

Life settlement can be a fantastic option for seniors closing in on retirement. Yet, like so many things, many people avoid it because of the various myths they've heard. An example of such misconceptions is only people with terminal illnesses qualify for life expectancy. While there is a life settlement option for people with terminal diseases, anyone older than 65 can sell their insurance policy for life settlement.

This age restriction is because life expectancy plays a crucial role in how life settlement companies value insurance policies. Usually, anyone below 65 and without a terminal condition is considered too young to qualify for life settlement. Another popular myth is only insurance packages worth around $1 million qualify for life settlement. However, while most investors prefer policies with high value, the minimum worth of an insurance package that qualifies for life settlement is $50,000. Also, most people believe life settlements aren't legal or government-regulated. On the contrary, life settlement is licit according to state and federal laws. 

Basic Tools for Woodworking Projects

Longtime business owner and accomplished CEO Bill Schantz has worked with Mid Atlantic Financial, LLC since 1988. Outside of his professional pursuits, Bill Schantz makes time to stay active, working out regularly, playing golf, and engaging in woodworking.

Woodworkers generally use a mixture of hand tools and power tools in their work, depending on the project. For basic woodworking, there are a few tools that you should keep in your woodworking kit.

1. Cutting Tools - Woodworking requires a few different types of cutting tools, depending on your taste and the particular project. You will generally want to invest in a few saws, like a jigsaw, circular saw, or even a handsaw. Your specific project will help determine the type of saw you want to use, and you may need a few different types depending on the stage of your project.

2. Filing and finishing tools - No matter what type of saw you use to cut pieces for your woodworking project, you will need to clean up the edges at some point, using some type of file, sander, or planning tool. Common types include jack planes, joining planes, orbital sanders, and hand files. Remember that planers are not abrasive tools, like sanders and files. Rather, they are cutting tools that allow you to shave off small bits of wood, smoothing the shape.

3. Measuring tools - For any woodworking project to be successful, several measuring tools should be used to verify lengths, angles, and other important aspects essential to putting a project together. Old advice says to measure twice and cut once, and that’s important in woodworking. You will also want a good tape measure and an assortment of squares available to use. There are many different types of squares available, and they often come with measurements marked on them as well, allowing them to double as a measuring tool. Squares help you to verify and create many different types of angles for your woodworking projects.