7 January 2014 0 Comments

The Retirement Planning Process

It may be true that it is never too early to start planning for retirement, but let’s face it—there are a lot of other things that are at the fore of your financial plans at young ages.  Retirement is a long ways off and easy to defer for later planning.  Still, here are a few [...]

13 December 2013 0 Comments

Nebraska – The Movie

A movie was released a few weeks ago named “Nebraska.”  It stars Bruce Dern as a harass-able old codger who defines the term curmudgeon—in spades!  Disheveled, grumpy, mean and uncaring are a few adjectives that easily describe him.  The movie was shot in black and white because it more precisely depicts the bleakness of his [...]

29 November 2013 0 Comments

Who Really Needs Life Insurance?

Do you really need life insurance?  I guess it can be argued that no one really needs life insurance.  After all, when a claim is paid on your life insurance policy, you will be dead.  Whatever your beliefs may be about a hereafter, when your death certificate is signed you no longer have a concern [...]

26 November 2013 0 Comments

Are You Worth More Dead Than Alive?

“I’m worth more dead than alive” is a comment I have heard often during my many years in the life insurance arena.  It’s usually said in jest by an individual just after he has purchased a new life insurance policy or as a put-off to the insurance agent attempting to set up an appointment to [...]

25 October 2013 0 Comments

The Doc Says “I’m As Good As New”, Or “It Was Just A Little Lump”

Recently I was speaking with a personal friend of mine who happens to be a medical doctor.  I was grousing about how I had recently visited a doctor for a shoulder problem who had me fill out a long form pertaining to prior medical history and then appeared to pay no attention to my answers.  [...]

22 October 2013 0 Comments

Binding A Business Agreement

In my last entry I discussed the importance of business owners entering into an agreement to sell their business interests in the event of death.  It is so important to enter into a buy-and-sell, or stock redemption agreement prior to death.  The agreement should require that the heirs of the deceased business owner sell and that the [...]

11 October 2013 0 Comments

Cashing In

You want the cash out of your life insurance policy…or do you?  Ask yourself why you want it before you make a move.  If you simply surrender your existing permanent life insurance policy and pocket the money there will be income tax due if the total cash value (including any policy loan) exceeds cumulative premiums [...]

7 October 2013 0 Comments

Using Life Insurance Cash Values At Retirement

Our 65 year old is thinking about retiring in another 5 years.  He’s in great shape…plans to live for a long time…but has done little to plan for the event. He owns a life insurance policy with some cash value, but because interest rates have dropped the cash is also dropping.  Soon he’ll have to [...]

20 September 2013 0 Comments

Managing Life Insurance Proceeds After You Are Gone

Some individuals are convinced that their spouse would have no ability to manage a large life insurance payout at their death, so they want to control how the benefits are paid to her.  Oops, I didn’t mean to be sexist, but the fact of the matter is that this concern is more often heard from [...]

10 September 2013 0 Comments

STRANGER ORIGINATED LIFE INSURANCE (STOLI)

STOLI might also refer to “Stranger Owned Life Insurance”, but here I want to discuss “originated” as opposed to “owned?”   The most insidious case of STOLI would be the two women in their 70’s  who, in 2008 were convicted and sentenced to life in prison, for killing two indigent men in Los Angeles in order [...]