Is An Executive Bonus Plan Under Section 162 The Answer?
As a business person I have become accustomed to wanting to deduct everything I can. If there was a way to deduct the air that is used in my office every day I would be installing an air gauge. Life insurance benefits are income tax free which is like the 8th wonder of the world ...read more
When You’re Over 50 Life Insurance Takes On New Meaning!
Being over 50 myself I read that title and my mind immediately went to the thought that, “Well of course it has new meaning. We’re a lot closer to using it.” Whoa, admitted my own mortality there! But what I want to get at is the fact that the needs and uses of life insurance ...read more
Whole Life Insurance Vs Term Life Insurance Vs No Life Insurance!!
Consider this my little Thanksgiving treat to the life insurance world. I am about to say something very positive about whole life insurance. So often I’ve beat whole life to death in comparing it to term life insurance, but Happy Thanksgiving! The whole life death benefit is every bit as valuable as a term insurance ...read more
What Happens When The Balloon Pops?
I feel a little like the boy that cried wolf and pretty soon no one is listening, but if you have a universal life, variable universal life, indexed universal life or whole life policy, the wolf is real and if you ignore it long enough it’s going to mess up your financial future and very ...read more
Is Term Insurance Still A Good Choice For Seniors?
When a person gets into their 60′s, 70′s and above there is a real life insurance industry tendency to try to shove them into the final expense market, even at a time when people are working longer and have larger needs than most final expense policies offer. So let’s break this down and look at ...read more
Same Advice As Last Year…And The Year Before!
With so much financially unchanged I want to dust off some previous advice and suggest that it was right then and still warrants some consideration. If you are over 50 life insurance may be one of those anchors in the storm that helps us to breath easier. Everything I’m hearing, including from my wife, is ...read more
This Is So American, It’s Scary!
I was discussing indexed universal life insurance products with another agent today and our combined conclusion is that most of the companies that are offering it seem to have forgotten that bad things can happen in our country’s economy. But just for the sake of argument, let’s pretend that 2008 never happened and our government ...read more
Life Insurance For Dummies, Or By Dummies, Or….
“If you need life insurance for more than 20 years, choose whole life; for 10 or fewer years, choose term life. For the time in between, ask a licensed professional to review your situation.” This patently ridiculous advice came from an article titled Term vs Whole Life”, I read recently by someone is most definitely ...read more
How Do Life Insurance Agents Get Paid?
Clients being ever vigilant for the fine print or hidden costs occasionally ask how I get paid. The core of the question for them is, of course, any additional cost they might incur above and beyond the premium. Almost all life insurance agents are paid on a commission basis by the company. For term insurance ...read more
Is It Still The Right Thing To Do?
A year and a half ago when everyone’s 401k’s had suddenly turned into 201k’s I threw out the suggestion that people buy 10 year term insurance as a way to kind of fill the bucket back up until things recovered. Now true, it wasn’t an idea to fill your bucket back up, but rather your ...read more
