Is Cash Value Life Insurance Worth It?
Cash value life insurance has been around for hundreds of years, has helped wealthy families pass on their fortunes for generations while avoiding taxes, has saved a myriad of big businesses, and is an asset every bank has on their books. So why haven’t you heard more about it? MaybeContinue Reading
Life Insurance Retirement Plan (LIRP) Basics
Relying on a 401(k) or IRA for retirement? There may be a better option. A Life Insurance Retirement Plan (LIRP) offers increased protection and less risk than qualified, market-based retirement products. And if you plan on retiring early, it could save you tens of thousands of dollars. In this article,Continue Reading
Understanding the Basics of Infinite Banking
As the concept of Infinite Banking gains popularity in the financial world it is important to understand the basics. What is Infinite Banking and how does it work? More importantly, who is Infinite Banking for? For many newcomers, it can be difficult to conceptualize. If you’re trying to understand ifContinue Reading
Asset Based Long Term Care
The majority of American’s don’t own long term care insurance policies, yet many will need long term care during their lifetime. So why no insurance? Traditional long term care insurance doesn’t guarantee a payout—it’s a ‘use it or lose it’ type of product. What if there was an insurance productContinue Reading
Benefits of an Irrevocable Life Insurance Trust
Choosing a beneficiary for your life insurance policy seems like a fairly straightforward task; most policyholders choose their spouse or children. But in certain cases, your family really isn’t the best choice. Sometimes, an irrevocable life insurance trust (ILIT) is the safest way to protect your family. In this article,Continue Reading
What Is the Child Protection Rider?
The child protection rider (CPR) is additional insurance added to your original whole life insurance policy that provides coverage for your child in case of death. But that’s not all it’s good for. In this article, we’ll explain the benefits of a child protection rider, costs and underwriting requirements, andContinue Reading
Understanding the Modified Endowment Contract (MEC)
A Modified Endowment Contract, also known as a MEC, could be a great way to pass on assets to your heirs. Or, it could be the worst thing to happen to your whole life insurance policy. In this article, we’ll break down the pros and cons of a Modified EndowmentContinue Reading
COVID-19 and Life Insurance
The effects of COVID-19 on life insurance companies and their policyholders is the number one question our Wealth Strategists have been addressing over the past several months. Our most common questions about COVID-19 affecting life insurance include: How does COVID-19 affect my whole life insurance policy? Do mutual life insuranceContinue Reading
Converting Military Life Insurance to Whole Life
Military life insurance is one of many benefits offered to active duty service members and veterans, but it’s not the only insurance option available. In fact, permanent life insurance policies like properly structured whole life insurance can offer more coverage and benefits than Servicemembers’ Group Life Insurance (SGLI), Family Servicemembers’Continue Reading
What Is The Guaranteed Insurability Rider?
If you knew that you were guaranteed to be eligible for life insurance, would you buy coverage? If you currently have life insurance, do you wish you had more coverage? One of the biggest reasons people don’t have adequate insurance is because their health prevents them from qualifying for lifeContinue Reading