By Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) and Christopher J. Layeux, MBA, ChFC, CLU Premium Finance demand is surging and changes to IRC §7702 are an accelerant. On December 27th, 2020, the President signed into law the Consolidated Appropriations Act, 2021 (CAA). The legislation included changes to the interest assumptions used in IRC […]
high net worth
Given the amount that an individual can give away without incurring gift taxes is at a historic high and the prospect that in the near future this amount could decrease significantly many of your high net worth clients may be considering significant lifetime gifts this year. There may never be such an opportunity again, but […]
We continue this month to reflect back upon the past year, highlighting some of the most important topics and trends that made headlines over the year. This week, we also look ahead at just a few of the things we’re watching for 2019. Continued Growth of the Life-LTC Combination Market: According to LIMRA research, the Life-LTC combination market has grown to more […]
This December, we’re taking the opportunity to reflect back upon the past year – and what a year it has been. At the forefront of the conversation has been the passage of the Tax Cuts & Jobs Act (TCJA) at the tail end of 2017. The TCJA promised sweeping reform across the insurance industry, both […]
We’ve advised readers in the past against dropping existing life insurance policies simply because of the temporary increase in the estate tax exemption. Instead, now is the time to review existing policies, possibly simplify techniques or repurpose its use. Not sure how? Here’s a list of seven strategies for repurposing existing life insurance.
Now that the Tax Cuts and Jobs Act has become law, some of your high net worth clients might be asking you whether they should maintain/continue paying premiums on an existing life insurance policy purchased to help provide estate tax liquidity. In situations where permanent insurance is no longer needed because the need for the […]