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 […]
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. […]
One of the major problems with all buy-sell agreements is finding the funds to enable the buyer to purchase the interest of a deceased owner. Life insurance is a tidy solution when it is available and affordable because: The insurance death proceeds are paid at the time when the obligation to purchase the business interest […]
Read our print-friendly PDF version The combination of depressed market values and the historically high gift/estate exemption of $12,920,000 (2023 indexed) opens the door to significant wealth transfer planning opportunities for high net worth individuals and their families. While making a gift of an amount equal to a large part of, or all of, the […]
Situation: A financial representative called her dedicated DBS Case Design Analyst with concerns about balancing the life insurance and long-term care goals of a married couple. Her client’s husband refused to attend a planning meeting to discuss long-term care, but always attended meetings in the past. The client was very interested in discussing long-term care […]
One of the easiest strategies to explain and implement with business owners is Key Person coverage. The primary purpose of insuring a key person is to help the business get through potentially difficult times should a key person die. A key person can be the business owner or a valued employee. Depending on who the […]
By Terri Getman, JD, CLU, ChFC, RICP, AEP (Distinguished) On December 29, 2022, President Biden signed into law the more than 4,000-page spending bill. In addition to funding the government to September, the legislation included provisions of what has been called SECURE 2.0. The SECURE 2.0 package is full of popular reforms that have been […]
Read our print-friendly PDF version Businesses are born when the market has a need and someone has a great idea for meeting the need. A product or service is developed and offered to the public. Over time, the skill, knowledge, leadership, and experience of the business’s key people make it possible for it to grow […]
The post-COVID resignation boom has brought employee retention issues to the forefront. With turnover rates on the increase business owners are keenly aware of how difficult it is to attract and retain key personnel. The competition for superior technical, managerial, and executive talent is so fierce today that business owners are constantly faced with finding […]
The hardest part in working with business owners is getting them to set aside time to talk about their life insurance. However, once the business owner agrees to meet with the financial professional, the next most difficult challenge may be determining the face amount of coverage and then getting the insurance carrier to issue the […]
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