Coronavirus and Insurance Planning
{2 minutes to read} So, what are you doing about your insurance needs? A lot of changes have happened in the year 2020, which we have now dubbed “2✱2✱.” We are replacing the zeros with asterisks because the world has changed and this is the year of exceptions. However, some things remain the same and people still have a need for proper long-term care, life, and disability insurance. And that's an area of our expertise. The underwriting for these insurances is getting more stringent because insurance companies are [...]
2020 — The Year of Challenges
{2 minutes to read} So 2020 has a zero and a second zero. Instead of seeing 2020 as we move forward, we will begin to see it as “the year of the exception,” aka the 2✱2✱ because of the historical implications that this year holds. The world is upside down between the COVID-19 pandemic and racial unrest. Terrible things including many deaths have happened as a result of these events. On top of that we have volatile markets, people losing their jobs and businesses. Sports and entertainment have [...]
Is Your Retirement Plan Balanced?
{5 minutes to read} Is your retirement plan balanced? Many times over my 36-year career, I’ve met people who are approaching retirement. One particular case was a 57-year-old couple approaching retirement, and their predominant assets were their retirement plans and their home. The retirement account, which they have been funding for many years by inputting approximately $40,000 per year, has approximately $2 million in it. Their plan is to slow down or retire at around age 65. As you can see from Exhibit 1, by taking the $2 [...]
Estate Planning Opportunities
{2 minutes to read} Now that we are deep into the market correction from the coronavirus impact, we have some estate planning opportunities that I think are worth considering. Estate planning in a low-interest-rate environment is a great opportunity for many people. In addition, we now have the ability to make larger gifts to children, and into trusts. The window on that will end December 31st, 2025, but right now we have a combination of a large lifetime exemption and a low-interest-rate environment. It's important for people to [...]
Life Insurance in the Digital Age
{1 minute to read} I am seeing the future of life insurance and it is completely digital. Mass Mutual’s Coverpath program allows for instant quotes, a shareable digital application, and even immediate approval for your most qualified clients: up to $1 million of coverage along with an e-delivery payment and signature system. This is exactly how clients want to interact today. If you want to learn more about this, call or message me at michael@swanwealth.com to learn about Mass Mutual's Coverpath. If you're interested in your family's financial [...]