Prepare Your Family to Put Your Life Insurance Money to the Best Us
If you’ve secured a solid life insurance policy, we commend you for making the necessary arrangements to secure your family’s financial future. If you’ve already had a policy review performed by an expert to work out any kinks or changes in your plan, you’re most definitely on the right track. Now, we want to make...
Stratus Case Study: Anticipating Pitfalls
Background: I recently attended an Estate Planning Council meeting. The program was based around case studies. They throw out a scenario; and have an interdisciplinary discussion about how to deal with all the ensuing pitfalls. The Problem: Upon reflection, it occurred to me that a majority of the people in the room make a living...
3 Mistakes People Make With Their Term Life Insurance Plan
Life insurance is a tricky process when you’re doing it on your own or working with an agent who has little experience. Arming yourself with information now can save you from making mistakes that may cost you in the future. We’ve reviewed many term life policies. Here are the top 3 mistakes you should avoid...
Should You Give Life Insurance Companies Access to Your Fitness Tracker?
Are life insurance companies pushing it by asking for the data on your fitness trackers? Well, whether you’re for it or against it, John Hancock Financial is one company that it’s doing just that. Policyholders who allow them to access information from their fitness trackers will be provided with the incentive for lower rates. The...
Learn the Importance of Updating Your Life Insurance Policy from Mike and Shelly
When I met Mike and Shelly, they were living in a small apartment with two young children. Their love for each other and commitment to family values was readily apparent. She was a stay-at-home mom, and he was on the beginning rung of a career he loved. The most immediate need was to move from...
With Life Insurance, the Company Matters.
Contrary to popular belief, not all life insurance companies are the same. Buying similar plans can end up with dramatically different results later on, depending on the quality of the organization issuing your policy. Here’s why: Problem When we conduct an independent policy review, an important part of our process is checking out the issuing...
An Ounce of Prevention
I was at an Estate Planning meeting recently. The room was filled with attorneys, CPAs, and investment advisors – it was a great cross-section of the various professions who serve as advisors and provide guidance and advice to their clients. The program was a case study. We were asked to discuss the issues that concerned...
Sometimes Insurance Companies Get the Short End of the Stick, But Your Beneficiaries Will Still Be Protected
Here’s a very recent example: In March one of our attorney partners was redrafting a succession agreement for a business client. As team members, we were asked to review the existing insurance policies. Our analysis showed they were both excellent and deserved to be retained. The total amount, however, was $500,000 short of the amount...
Joe’s Wife Is Missing, So Is His Ability to Protect Her
At the peak of the COVID pandemic, my friend Joe hadn’t seen his wife for over five months. He had rushed her to the hospital and had to watch from the door while the gurney wheeled her away. It turned out she had an aneurism that needed immediate attention. The doctors saved her life, but...
Marijuana and Life Insurance: Your Preferred Rating Doesn’t Have To Go Up in Smoke
The issue of marijuana use continues to evolve no matter where you live. While your state, like here in California, may have legalized the drug, the federal government still classifies the substance as illegal. As states push on despite the federal laws, the question of marijuana use is a hotly debated topic inside the insurance...