by Ed Hinerman | Dec 8, 2017 | insurable interest, life insurance, second to die insurance
The perfect life insurance product for dealing with estate tax obligations has always been the second to die or survivor-ship policy. Since the obligation to pay those taxes was transferred through an exemption to the surviving spouse, while there might have been a...
by Ed Hinerman | Jul 23, 2016 | appropriate life insurance recommendation, assumptions, guarantee, illustration, indexed universal life, insurance, life insurance, second to die insurance
I get email advertising all the time from life insurance companies wanting to catch me in a weak moment and get me to jump on board with some breed of indexed universal life. Any breed really. Whether it is simple life insurance, or a bolder approach to wealth...
by Ed Hinerman | Jul 22, 2015 | application process, approval, budget, children's life insurance, financial adviser, guaranteed level premium, impaired risk life insurance, Independent agent, insurance, life insurance, life insurance approval, second to die insurance
If all agents and all companies were created equal, well, you might as well get rid of all the agents and created “The Insurance Company”, completely computerized and ready to mistreat everyone on an equal basis. But alas we live in the real world and...
by Ed Hinerman | Apr 6, 2011 | final expense life insurance, insurance, life insurance, second to die insurance
A client of mine called today in response to a blog post I had written about the current state of estate preservation life insurance and exemption laws. After reviewing his situation I concurred with his estate attorney that he should look at acquiring a 2nd to die...
by Ed Hinerman | Feb 1, 2011 | estate taxes, insurance, life insurance, Protective Life, rate increase, second to die insurance, universal life
I wrote an estate life insurance case 6 or so years ago that if you put a pencil to the numbers you would swear that the company had made a huge mistake. There was simply no feasible way for them to make a profit. The case was with Protective Life who, for a while,...
by Ed Hinerman | Jan 28, 2011 | estate taxes, insurance, life insurance, second to die insurance
So when all of the estate tax and gifting laws shook out and got signed, two things really stood out. There were some very generous changes and, unless extended, they will only last two years. This could make for the largest two years transfer of wealth in history...
by Ed Hinerman | Aug 3, 2009 | estate taxes, insurance, life insurance, second to die insurance
While it certainly isn’t our duty to work our tails off all of our adult lives just so we can leave the legacy of an estate to our heirs, I saw a study a few years ago that indicated that it really was the goal, a desire, of the boomer generation and our...
by Ed Hinerman | Jul 19, 2009 | estate taxes, insurance, life insurance, second to die insurance
If not, give this some thought! Estate taxes come due nine months after the death of the sole surviving spouse or individual whose net worth comprises the estate. While nine months may seem like a long enough time to wrap up an estate and gather the money to pay the...
by Ed Hinerman | May 14, 2009 | estate taxes, insurance, life insurance, second to die insurance, universal life
Ok, I’m not really holding my breath, but you do realize that with 7 months left to go Congress needs to act or there will be a free estate tax ride in 2010. As the law now stands, the exemption has been rising steadily over the last 9 years from the...
by Ed Hinerman | Mar 29, 2009 | estate taxes, final expense life insurance, insurance, life insurance, second to die insurance, term insurance, universal life, variable universal life, whole life
I’ve been accused of recommending term life for every need and while I maintain that 95% of all needs for the average person are well served by term, there are valid reasons to consider permanent insurance in your portfolio. Before any jumps on that statement...
by Ed Hinerman | May 27, 2008 | estate taxes, insurance, life insurance, second to die insurance, universal life
Estate tax repeal, just like getting older, is gently creeping up on us at about the speed of a Lear Jet. In 2010, if congress doesn’t do anything the estate tax will disappear until, of course, reinstated by a congress and president of sound mind. Most of those...
by Ed Hinerman | Mar 8, 2008 | estate taxes, insurance, life insurance, second to die insurance
However the elections shake out, congress and the new president will be dealing with the estate tax issue over the next year. Already a myriad of options have been thrown into the hopper. Amost no one and none of the proposals point to the elimination of the federal...
by Ed Hinerman | Dec 18, 2007 | insurance, life insurance, second to die insurance, universal life
In a post not long ago I mentioned that New York was poised to approve the sale of indexed universal life, a form of universal life that uses market indexes to determine actual cash value above the guarantee. Well, they’re off to the races. I ran a spreadsheet...
by Ed Hinerman | Nov 26, 2007 | estate taxes, insurance, life insurance, second to die insurance
Currently the federal estate tax exemption, the amount of an estate that can pass on to a family without being taxed (at the federal level), is $2,000,000. This is up from an estate gobbling $600,000 just 7 years ago. Remember that a persons entire estate can pass tax...
by Ed Hinerman | Aug 23, 2007 | estate taxes, insurance, life insurance, second to die insurance
Is the need for second to die life insurance going to go away? Will the estate tax really disappear in 2010? Should you jump to decrease your life insurance because of the new exemption limits? Well, in the world according to me the answers would be NO, NO and NO! The...
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