28 August 2014 0 Comments

Social Security Planning Tips

The Bridge When you are about to retire there are several choices that face you.  If you are about to retire at age 62 you may not want to take Social Security retirement benefits at that time due to the early retirement reduction in benefits. You might also not want to leave the workforce until [...]

19 August 2014 0 Comments

Special Estate Needs of Foreign Nationals

Non-resident aliens who own U.S. real estate. Non-resident aliens who directly own certain U. S. assets are exposed to U.S. estate tax liability and only $60,000 may be exempt from this tax, not the $5,000,000+ exemption normally allowed for U.S. citizens.  Here’s an example: Pedro Sanchez is not a U.S. citizen and is a resident [...]

12 August 2014 0 Comments

When You Want Term, But Conversion is the Only Answer

I previously discussed how converting term insurance works.  It’s when you decide you no longer want term insurance and you exchange your term policy for a permanent policy without having to provide any current personal information to the insurance company.  The new permanent policy is issued in the same underwriting class as the term based [...]

7 August 2014 0 Comments

Help Yourself to the Best Premiums

There are many factors that go into what you will be charged for life insurance.  There is really only one of those factors that is totally out of your control:  family history.  If your father died of a heart attack at the age of 55 there’s nothing you can do about that, and that would [...]

5 August 2014 0 Comments

Why You May Not Be Eligible For The Lowest Premium

Years ago the majority of life insurance applicants received a policy with the lowest premiums.  You could smoke two packs a day and didn’t have to provide a blood draw.  Insurance companies paid little attention to family medical history. The problem with that simplistic pricing approach was that the person in pristine health paid more [...]

31 July 2014 0 Comments

When Feel Good Vanishes

Having discussed how the purchase of life insurance should, and usually does, produce an everlasting good feeling, I’d be less than honest if I didn’t admit that that is not always the case.  There are times when the life insurance purchaser becomes engulfed in buyer’s remorse, or at least uncertainty. “Did I buy the right [...]

30 July 2014 0 Comments

The Feel Good Factor

Buying a new car can make you feel good…until the new car smell wears off and you no longer bother to get it washed every week.  Moving into a new home always makes you feel good…until the newly escalated real estate taxes come due.  Partying with a bunch of your pals from college, reminiscing about [...]

24 July 2014 0 Comments

The Best or Worst Retirement Tool

The primary purpose of life insurance is to provide a death benefit, not to build cash value.  Its main function is not to supplement retirement income.  With that said, however, life insurance policies have some advantages not offered by any other financial vehicles that can provide for a very efficient retirement resource.  They can also [...]

16 July 2014 0 Comments

Who Should Buy The AARP Life Insurance Program?

My AARP magazine arrived recently containing a full page ad with the heading:  DO YOU HAVE ENOUGH LIFE INSURANCE?  Well, I actually do have enough, but since the subject interests me, I read on.  It’s a special program only for AARP members offered by New York Life Insurance Company—one of the oldest most financially sound [...]

10 July 2014 0 Comments

Why buy life insurance if you don’t need it?

Not everyone needs life insurance.  If you are single with no one dependent on your income and your liquid assets are more than sufficient to meet final expenses, then you really don’t have a current need for life insurance.  However, the operative word in that statement is current.  Is it possible that some day there [...]