Mark Maliwauki, Life Insurance Agent
Mark Maliwauki
Pennant Advisors, LLC
Life Insurance Agent Licensed in ID
Contact Details
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Location
Star, ID
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Website
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LinkedIn
Mark Can Help With:
About Me
Good day! My name is Mark, and I am passionate about helping people understand their life insurance choices. I provide no-cost guidance while reviewing options from top-rated companies, so you can feel confident knowing your family is taken care of.
Q&A with Mark Maliwauki
Can I sell my life insurance policy for cash?
Answer: Yes, you can sell your life insurance policy for cash through a process called a life settlement. You transfer policy ownership to a third-party buyer who pays the premiums and collects the death benefit when you pass away. You receive a lump-sum payout, which is generally more than your policy's cash surrender value but less than the total death benefit.
To qualify, you must meet these criteria:
Age: You are typically aged 65 or older Policy
Size: Your policy's death benefit is usually $100,000 or more.
Health Status: You may have experienced a decline in health since the policy was originally issued. (Note: If you have a terminal or chronic illness, this is specifically referred to as a viatical settlement)
How does a no-exam life insurance policy compare to a fully underwritten one?
Answer: It is easier to get approved. There is no rating for conditions you may have that would cause the insurer to charge more for a premium.
What is variable life insurance and how does it work?
Answer: Variable life insurance is a permanent policy with an investment component. It provides a guaranteed death benefit and a cash value account. You invest this cash value into a menu of market sub-accounts, like mutual funds. Your cash value, and potentially your death benefit, will fluctuate based on the market performance of those investments.