Situation: I’m often confronted with the situation where an individual has purchased a policy on his or her life and retained an “incident of ownership” causing the proceeds to be included in his or her taxable estate. To avoid estate inclusion the insured may seek to transfer the policy to an ILIT. Unfortunately, certain transfers […]
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.1Proponents of this strategy believe that you should purchase a term policy, then invest the difference in premium between […]
Situation: Couples with young children often have a variety of insurance needs. The Foremost reason young couples should purchase insurance is to make sure to replace lost income, both in the event of a premature death or disability, and payoff mortgage and debts. Within this segment you may find some raising a child with special […]
Fixed Index Annuities (FIAs) and Multi-Year Guaranteed Annuities (MYGAs) are retirement products with unique benefits. FIAs provide growth potential linked to market indices while protecting your principal, making them ideal for those seeking moderate returns with market downside protection. They often include optional features like guaranteed lifetime income riders.MYGAs, on the other hand, offer a […]
Situation: President-elect Donald Trump and his allies have articulated ambitious plans for his administration’s first 100 days in office. Yet despite winning a Republican trifecta, lawmakers will face significant challenges to enacting its agenda.In the House, Republicans will have a small majority because three lawmakers are expected to resign, bringing the number of Republican seats […]
by Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) Situation: Typically, this monthly publication focuses on technical life insurance concepts. However, this month we are taking a slightly different direction to describe how a collateral assignment of a life insurance policy can be used to help secure a loan from a bank or other lender. […]
Minneapolis, MN – Diversified Brokerage Services, Inc. (DBS), a leading provider of insurance brokerage services, is thrilled to announce the launch of its new Annuity Division. This strategic addition is set to enhance the support provided to financial advisors and their clients, reinforcing DBS’s commitment to innovation and excellence in the life insurance industry. The […]
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