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What’s New

New Article: Life insurance is a liquidity and leverage tool
Life insurance is considered by some as the swiss army knife of financial tools because of its many uses.  In my recently published NAPFA article, “Legacy Planning with Life insurance”, I look at three unique situations.

  1. An older couple uses life insurance to assure they leave a legacy to their children since they don’t have long-term care protection. 
  2. A high net worth widow uses an annuity and life insurance as a tax arbitrage play avoiding state estate taxes, maximizing the estate for her heirs. 
  3. A retired professor leverages his IRA, creates tax-free dollars if he needs care and leaves more behind to his heirs.

Launch the following link to learn more:  Legacy Planning with Life Insurance, NAPFA Advisor (May 2019)

New Product: Life-LTC hybrid with lifetime premium funding

Hybrid LTCi products are a popular alternative to traditional long-term care insurance because they address the largest concerns of many clients – a guaranteed price and making sure a benefit is paid if they don’t need care.  When these products were first introduced a lump sum was often needed for funding.  As products have improved, carriers have expanded payment options.  Today we can design payments up to 10-15 years, to age 65 and now we have two options to pay over a lifetime.  Unlike traditional long-term care insurance, these lifetime payment options are guaranteed not to change.  This broadens the market to those who can now afford to buy a hybrid LTCi policy. 

Additionally, you should be aware that some of the premium paid towards specific hybrid LTCi products can be tax deductible for a business owner of a C-corporation or for any non-owner employee the business owner is trying to retain and reward.   The premium is deductible for the corporation, but not taxable to the employee.   

New Resource: Next month we will debut Client Chronicles™, our new educational resource for advisors.

I have been asked by many advisors to share case studies to help them better understand the use and value of insurance and the role it can play in planning.  Client Chronicles™ focuses on real life situations faced by advisors and their clients. 

Our first Chronicle highlights the differences between group and individual insurance, reinforcing the value of performing an insurance review with your clients. 

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