I read a lot. I much prefer non-fiction over fiction though the other day, the (very) fictitious article entitled, “Whole Life Insurance vs. 529 College Savings Plans…Who Wins?”, got my interest as no other piece of fiction that I can recall. The author’s position (which I deduced from the title alone), is that whole life […]
Owners of family businesses often find themselves in a dilemma over how to treat their adult children fairly when one or more is interested and capable of taking over the business and the other adult children are not. Certainly, the owners are not about to turn over their life’s work to anyone (their closest kin […]
Many insured’s are confused and angered when the premiums of their “vanishing premium” life insurance policy, either don’t vanish or reappear at a later date. If the policy was promoted and sold on a “vanishing premium” basis they ask, then “why am I still writing checks?” The answer is very simple though not always properly […]
The life insurance industry has become increasingly complex. New and multiple policy types deliver both choice (a good thing) and complexity (not such a good thing) to your client’s decision-making. Policy names (Adjustable, Flexible and in my opinion, sometimes Combustible) are not helpful either. If I have a difficult time keeping up, I can’t imagine […]
In a previous post, I discussed the importance of having a life insurance policy analysis done on a regular basis. I was recently reminded of the importance of policy reviews when I received correspondence from a life insurance carrier whose policy expenses exceeded what was necessary to support the death benefit. Though the mistake was […]
Did you know that well over half (up to 80% according to some sources) of all life insurance policies issued, lapse prior to the insured’s death? Most policies are designed, purchased, placed and funded with the expectation that at death (an unknown time), the life insurance proceeds (a known amount) would be paid to a […]
Statistics have shown and there is little denying that long-term care will be in most of our futures at some time and to some extent. It also seems to reason that the premiums/costs to insure against this almost inevitable risk are far less than the cost of paying these fees out of pocket. We can […]
For insured’s under the misperception that their life insurance policy is iron clad simply because they pay their annually billed premium, these folks may be in for an abrupt and expensive surprise. Many policies are designed to stay in force only on the basis of critical assumptions being met or exceeded over the life of […]