May seniors ask "what can I get for my grandchildren besides toys and Nintendo"? Ask your CSA about Juvenile Estate Builder.
Question #1 Maybe I want to stop paying on my life insurance policy. Can I do that?
Answer: You certainly have that option. What you need to do is sit down with someone you can trust to go over your options. You may be able to convert it to a paid up policy, you could even cash it in and use the cash to fund an Annuity with a higher interest rate. Tthere are even companies that buy the insurance policy from you for cash, usually more cash then you would get from the insurance company if you cashed it in.
Question #2 Can I get money out of my life insurance before I die to pay for my medical bills.
Answer: Some policies will pay you up to half the face amount if you are terminally ill. You would need to review your individual policy.
You can now by SS insurance to continue the stream of monthly income after the death of the provider spouse to get you through that first year.
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