The Concept of Return of Premium
{4 minutes to read} Today, I want to talk about a concept called Return of Premium. Return of premium life insurance has been around for some time now and mostly has been talked about in the context of what we call Return of Premium Term Life Insurance. So, let's say at the end of the 10- or 20-year term, you have a chance to recapture the premiums that were paid. This became somewhat of a popular product but the problem I have with Return of Premium Term is [...]
The Gift of a Lifetime
We are now in December and people are thinking about the holidays and gift giving. Since we all think about what would be a significant or the best gift, I'd like to urge everybody to consider giving a Gift of a Lifetime. Gift of a Lifetime is a program designed for parents and/or grandparents to give the gift of financial security to their children or grandchildren. The Gift of a Lifetime is a life insurance policy that gets funded by the parents or grandparents. In the future, this [...]
Update on Estate Planning and Taxes
{3 minutes to read} Recently, the House created a new proposal for estate tax. Over the next few months, many other taxes are going to potentially be changed and by the end of the year, we are more than likely to have sweeping tax law changes. So, this article is an alert to take advantage of the current rules that are in effect now, before these potential year-end changes. Some significant changes are outlined in the article I've attached to this blog, but as a general rule of [...]
Life Insurance Asset Management
{Time to Read: 1.75 minutes} Many people are trying to manage life insurance policies, whether they're policies on their own life, or policies in a trust for which they are a trustee. You have to make the best policy decisions. The analogy that we like to use is one that involves people in a bathtub. The water going in, represents the premiums and earnings of a policy, whether it be interest or dividends. What comes out of the bottom of the drain, is the cost for the insurance, [...]
Top Financial Planning Tips
{3 minutes to read} Today, I want to talk about basic, sound, financial planning, and some top planning tips to help you achieve financial success: Spend less than what you earn. For many years in our country, we had a negative savings rate. People were spending more than they were earning. It is imperative that each and every one of us saves money consistently, and the only way to do that is by spending less than what we earn. Establishing a budget can help. It is very important [...]