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 [...]

21 January 2014 0 Comments

The Life Insurance Review

How often should you review your life insurance program?  If you liken a meeting with your life insurance agent to a trip to the dentist, you will probably approve of my answer:  Once every 5 years is enough unless you have a change in your financial picture. Here are changes in the financial picture of [...]

14 January 2014 0 Comments

The One Way Street

A Life Insurance Policy is like a One Way Street… in the good sense.  Once a policy has been issued there is no turning back—not for you—but for the insurance company.  When you buy an automobile or homeowner’s policy the insurance company has typically only committed to you for a one year period of time.  [...]

9 December 2013 0 Comments

When It’s Your Business …

If you own a business or are a self employed professional you should consider business life insurance.  The two most common uses of life insurance in a business are to fund a buy and sell agreement (22 Oct. 2013 blog) or as indemnification for the loss of a key employee.  When looking at these needs, [...]

6 December 2013 0 Comments

How Much Is Enough?

How much Life Insurance do you really need?  It’s easy saying one should purchase life insurance equal to a given multiple of current income, but how can a given multiplier be accurate for all people?  It can’t be.  If you are in your 30’s with three young kids to support, the multiple of income is [...]

22 November 2013 0 Comments

A Tax Time Bomb!

Several years ago you placed $50,000 into a deferred annuity.  You are now age 71 and that annuity’s value has grown to $75,000. As a widower you plan to leave the cash from this annuity to your grandson when you die.  You have plenty of other assets and a comfortable income. This is money you [...]

12 November 2013 0 Comments

It’s No Surprise

At the end of my last entry I promised some surprises.  I have only one surprise:  Time moves much more quickly than you could ever imagine! Could it possibly be 57 years ago that I got word of my father’s sudden death as a moment of carelessness had him tangling with an oncoming steam engine [...]

8 November 2013 0 Comments

Life Insurance When You Least Thought You Needed It

You’re age 68 and your wife is 65.  You had a minor heart attack a few years ago, but you’re fine now…been watching your diet and lifestyle.  Your wife is in great physical condition!  Life has been good to you.  You have invested wisely, your home is paid off and the net worth of your [...]

1 November 2013 0 Comments

Bigger Isn’t Always Best

We’re talking about life insurance policies here!  If you’re buying a Universal Life policy and your agent asks if you want the death benefit to be level or to increase as the accumulation value increases, don’t automatically decide that a bigger death benefit is best.  The long range cost of that increasing death benefit can [...]

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 [...]