life insurance
If You Have a Large Estate, Consider Gifting
Gifting is a valuable part of most estate plans, but when financial advisors think of gifting they usually just think in terms of the annual exclusion gift that can be made each year. The annual exclusion gift increased in 2023 to $17,000 per person, so for a couple, $34,000 can be given to a single […]
Men are from Mars & Women from Venus in the LTC Universe
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 […]
Rescuing a Life Insurance Policy with a Loan
Situation: Numerous life insurance strategies involve borrowing against the cash value of a policy. Policy loans can provide a fast and easy source of cash for clients. Often the terms of a policy loan are more favorable than a conventional loan. They do not have the stringent credit and underwriting approval requirements and the interest […]
The Basics of Split Dollar
Situation: All too often when I get a call from a financial advisor contemplating an executive benefit arrangement using life insurance s/he is often contemplating either a Deferred Compensation/SERP arrangement with a delayed business tax-deduction and maximum golden handcuff, or some form of a Section 162 Executive Bonus/REBA Arrangement with an immediate business income tax […]
Help Business Owners Achieve Their Goals with Life Insurance Strategies
America’s multi-generational family-owned industries contribute $7.7 trillion annually to the U.S. gross domestic product, and family businesses are the largest private employers in the country, accounting for 83.3 million jobs, or 59 percent of the country’s private workforce. That alone makes this market a big opportunity for you, but to add to that, President Joe […]
Why Life Insurance is Often Used to Informally Fund a Nonqualified Deferred Compensation Arrangement
The changing demographics of the United States are having a profound effect on the labor supply in the nation. The population is aging, with the number of baby boomers reaching ages 65 and over expected to outnumber those ages 18 and under by 2034. (1) This is contributing to a tight labor market. At the […]
SERPs Provide Supplemental Retirement Income With Qualified Plan Limits
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? If so, a Supplemental […]
Business Owners Beware of Taxable Death Benefit
Many businesses own life insurance to cover losses that will be incurred at the untimely death of their owners and employees. In general, proceeds from life insurance are income tax-free under the IRC Section 101(a). However, this general rule changed when Section 101(j) was enacted as part of the Pension Protection Act of 2006. Read […]
DBS Announces the Addition of Ryan Lommel as Regional Sales Director for its South Region
Minneapolis, MN (July 24, 2023) – Diversified Brokerage Services (DBS), a national Brokerage General Agency specializing in life, annuities, long-term care and disability insurance, has announced that Ryan Lommel will join the team as Regional Sales Director for its South Region, effective July 31, 2023. Ryan will be responsible for Texas, New Mexico, Arizona and […]