Let’s face it: people are living longer than ever before. This increased life expectancy means that chances are high that many of your clients will be impacted by a chronic illness or an event requiring long-term care. Because of this, you need to prepare them financially. Continue reading our print-friend PDF here.
A careful review of a client’s tax returns can provide insight into their insurance and financial planning needs. A review of the lines on a tax return can lead to conversations about: • Basic needs analysis and college funding • Retirement and extended care planning • Legacy & charitable planning • Business planning Additionally, comparing […]
Situation: Financial representatives who first start to work in the charitable market often have trouble understanding “How much can be deducted?” The confusion is understandable. While our income tax law encourages charitable giving by allowing charitable contributions to offset an individual’s taxable income, it also imposes annual limitations on the amounts that can be deducted. […]
What 6 topics should your family consider?
If you have spent much time listening to financial pundits, you are probably familiar with the phrase “buy term and invest the difference”. This hotly contested concept has been widely discussed in the financial industry for years.1
Situation: Using life insurance as a funding vehicle for a buy-sell arrangement gives rise to several potential tax traps, especially in out-of-the-ordinary owner/beneficiary structures. To this author it seems that more than almost any other area, buy-sell agreement funding, modification, and termination give rise to potential transfer-for-value traps. This Counselor’s Corner discusses some of the […]
Have the limitations of qualified plan funding reduced the ability of your business clients to provide highly compensated executives with retirement benefits? Would your business clients be interested in providing a supplemental benefit to a select group of key executives as long as the arrangement binds the executive to the company? Or, do you have […]
Beginning January 1, 2020 all life insurance policies must meet: • The new 2017 CSO mortality tables, and • Principle-Based Reserving (PBR) requirements. Life insurance products that don’t meet both requirements must be issued and paid prior to December 31, 2019. There are no exceptions to this deadline. What does this mean to you and […]
As the end of the year approaches, life insurance carriers are in a mad dash to implement product changes mandated by the new 2017 CSO mortality tables and the Principle-Based Reserving (PBR) requirements. Most carriers have already updated their term and no-lapse guarantee universal life products to meet these new requirements, but many cash accumulation […]