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 [...]

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 [...]

26 June 2014 0 Comments

Misconceptions About Life Insurance (Part 4)

Chances of dying at my young age are slight so I’ll wait until later to get life insurance. Yes, chances of dying at a young age are slight, but that’s why premiums are so low when you are young.  And…if you also have a young family, this is the time when they need protection the [...]

24 June 2014 0 Comments

Misconceptions About Life Insurance (Part 3)

This continues my summary of the most common misconceptions about life insurance. Buying Term Insurance is like throwing your money down a rat hole. It’s true that only the insurance company wins if you buy term insurance and don’t die prior to the end of the term.  Likewise, if you buy fire insurance on your [...]

19 June 2014 0 Comments

Misconceptions About Life Insurance (Part 2)

This continues with my last entry dealing with the most common misconceptions about life insurance. In a family setting only the breadwinner needs life insurance. If there are no minor children or special needs children to care for, then it is probably not necessary to have life insurance on the non-income producing spouse.  But if [...]

20 May 2014 0 Comments

The Language of Life Insurance

I’m guilty!  There are times when I banter around terms that mean something to me, but are meaningless—or downright misleading—to non-insurance people.  That’s why I included a Life Insurance Terminology tab on this site.  But, even with that assist, much of our “insider’s terminology” needs clarification.  So, here goes on some of those terms that [...]

16 May 2014 0 Comments

What do you do with the cash?

In my last entry I discussed steps to take when replacing one life insurance policy with another.  Now I’ll cover what considerations there are when a life insurance policy that has cash value is either being replaced or discontinued. Options available to use the cash to continue insurance with the same policy were covered two [...]

14 May 2014 0 Comments

Help! My Life Insurance Premiums are too High!

If premiums for your car insurance are too high, you simply shop the market and if another insurance company beats what you’re paying, you switch.  It’s a pretty easy decision to make.  But, the Life Insurance switch is not so easy.  Aside from the fact that life insurance policies tend to be more complex, it’s [...]

8 May 2014 0 Comments

The Case of the Unecessary ILIT

A few years ago you may have established an Irrevocable Life Insurance Trust (ILIT) in order to provide liquidity for estate taxes.  At the time, the per-person exemption was only $1,000,000 but now the exemption is north of $5,000,000 and due to rise with the CPI.  The life insurance in that ILIT is no longer [...]

25 April 2014 0 Comments

The Truth About Annuities

The mere mention of annuities among investment advisors can conjure up a myriad of opinions from: they’re a lousy investment—to—what a great tax advantage.  Interestingly, both of these statements might be true.  Of late, the debate has grown louder due to a plethora of Indexed Annuities that seem to promise the best of both worlds—growth [...]