Life Insurance and Retirement Planning
The most common business life insurance beneficiary mistake involves key-person life insurance policies. Business owners often attempt to deduct premiums paid by the business for the key-person life insurance policy. He or she has not consulted a tax professional but…
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Another common beneficiary mistake is to name minor children as beneficiaries. While parents should purchase life insurance to provide income to minor children upon death, naming them directly poses problems. Minor children require a guardian to be appointed by a…
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Many people make the mistake of naming their estate as beneficiary of their life insurance policy. The request is most common with single people and is especially common as a contingent beneficiary. Your estate does need money to pay for…
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When was the last time you reviewed your life insurance policies? While the rates on your coverage are likely locked in for the duration of your policies, rates on new life insurance contracts change all the time. If you have not…
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Do you have a high deductible health insurance policy? Do you love someone or owe someone? What do these questions even have in common? Follow along and I will explain. With the recent changes in the health insurance market, more…
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How much? How did you determine how much life insurance you need? Often, we cover fixed expenses such as mortgages, funeral costs and credit cards, plus ongoing income needs. What about the future cost of college for our children? If…
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1- Really? So that means you are getting a free funeral? The last time I checked, it is actually against the law to dump a body in the nearest ditch, bury someone in the backyard or cremate your remains in…
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Psychologists tell us the fear of loss is greater than the desire to gain. Think about it, how often do you call your broker when the stock market is going up? How often do you call when it is crashing?…
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Have you protected your assets from the greatest financial threat you face in retirement, the high costs of extended care? What happens to families with no protection from this risk? What excuses do people give for not taking action and…
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You can’t take it with you, but you can maximize what you leave behind Do you have “leave-on” money, funds you don’t need to live on but to pass on? What if you could double or triple your legacy funds…
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