Income Planning For Rising Taxes |
July 9, 2012 |
Cal Burgess, Life Insurance, Member Posts
Written By: Cal Burgess, Retirement Servicing Group The Bush Tax cuts are set to expire in January of 2013, which will prove to be a major problem for many investors. This is especially true considering we have spent more money as a nation over the last 4 years than any other time in US history, bringing the debt toll to over $4.5 trillion since 2008. This drastic spike in spending is likely to be followed by a steady increase in Federal income taxes. It’s not...
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Insufficient Life Insurance Coverage Is a Risk to Many Families |
June 27, 2012 |
Life Insurance
A report recently published by Genworth Financial shows that a significant amount of families who do not have life insurance coverage. In fact, it shows that 44% of college educated adults have decided to not carry life insurance. Their report also revealed that 60% of adults with a high school diploma or less do not have coverage which is even more troubling. These statistics are simply show the percentages of adults who have no insurance, so the they would certainly climb when measuring the ratios...
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How Policy Owners Were Able to Survive The Fall of AIG |
May 30, 2012 |
Cal Burgess, Index Annuities, Life Insurance, Member Posts
Written By: Cal Burgess, Retirement Servicing Group The financial correction of 2008 is undoubtedly one of the most memorable events in US history. Several companies fell at that time including financial giants AIG and Lehman Bros. We all know the story of how the credit lines of these companies were extended by the Federal stimulus, which came to over $800 billion up front. Most people think companies like AIG fell because of financial insolvency. This was not the case at all. AIG fell because of...
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Individual Life Insurance Sales Increase in the First Quarter of 2012 |
May 30, 2012 |
Life Insurance
According to a new report from LIMRA, total individual life insurance premium grew by 3% in the first quarter of 2012 compared to the first quarter of 2011. The report also shows that overall policy count rose by 5% during this same time. This growth was driven by whole life sales which, according to senior analyst Ashley Durham, “remains very attractive to consumers looking for security of premium and cash-value guarantees along with lifetime coverage”. Whole life premiums increased by 10% this quarter with a...
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Insurance You Can Live Without |
May 8, 2012 |
Life Insurance, Your Retirement
Although owning insurance often gives us a certain peace of mind knowing that we have protection against unforeseen events, some plans are simply not worth the costs to insure. Jeanette Pavini posted a great article which describes some insurance policies which are often not in our best interest to purchase. She provides a list of things that we should stay away from and also includes others that we should really pursue. In summary, here are the highlighted items. Skip – Pet insurance, home warranty, extended...
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Can Annuities be Used to Pay for Long-Term Care? |
April 18, 2012 |
Annuity Basics, Life Insurance, Retirement Planning
Yes, you can transfer money from an annuity to pay long-term-care premiums without owing taxes. This was the result of a tax break that was included in the Pension Protection Act of 2006. Kimberly Lankford posted an article called ‘Use Annuities to Pay for Long-Term Care’ which gives great insight into the advantages that this tax break creates. She gives some powerful examples on how this can be used to both provide themselves with long-term-care while decreasing their taxable gains. For the specifics, please read...
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Do You Need Life Insurance in Retirement? |
April 12, 2012 |
Life Insurance, Retirement Planning, Your Retirement
Along with any other retirement planning tool, specific analysis needs to be applied to Life Insurance to ensure that your specific needs are being efficiently addressed. An article recently published by Jeff Rose sheds some light into key items that you should consider when evaluating if Life Insurance should be part of your overall plan. One key item that he highlights is to be sure that your dependents’ potential needs are included in this analysis. If your children are financially stable, then you of course...
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