Money and the Married Woman: Financial Planning For The Future
I was surprised to read a report that revealed several tendencies regarding the financial situation of older widows or divorcees. The report stated that 56% of married women leave all of the financial planning and investment considerations to their husbands. 56% You might think that this type of situation would be changing with younger couples....
Why is Fred’s Life Insurance Company Sending Him Another Bill?
Over the years, we have seen and collected too many examples of the damage “conditional” insurance policy guarantees can create. The following is a real life example that happened to one of our clients. Every January for the last 27 years, Fred has paid the $1,500 annual premium on his life insurance policy. Last September...
Fred Flintstone’s Lessons on Life Insurance
Before he became a famous television star, Fred Flintstone had a career hunting saber-tooth Tigers. It was very risky. The worker’s comp was so expensive he couldn’t turn a profit. Frustrated, he decided he wanted to go into a career that eliminated risk, so he went into the life insurance business. Life insurance policies had...
Zappos Founder, Tony Hsieh, Didn’t Have a Will – So How’s That Going?
Back in the ’70s, “Pay me now, or pay me later…” was the catchphrase for an oil filter commercial. The guy’s point on the TV screen was that “later” was going to be much more expensive. A few mistakes are unavoidable. The majority of mistakes, however, fall into the “avoidable” category. Tony Hsieh, the esteemed...
Life Insurance Maintenance
We all know that feeling. That sinking feeling, where something unexpected pops up in front of you and tries to ruin your day. Well, some of those things are more serious than others and, of course, I have a couple of examples for your consideration. What does life insurance have to do with the battery...
The Biggest Misinterpretation When Evaluating a Life Insurance Policy
When it comes to life insurance, the word “guarantee” may have different meanings. The first question that should be asked? “Is the guarantee conditional or unconditional?” Here’s why: Problem There’s hardly ever a problem when a policy has unconditional guarantees. “If you pay this premium, we will pay this death benefit to your age 120”...
Why Executors Need Documents
“You’re my executor.” Over the years, many trusted family members and friends have heard these words. It’s one of the first steps when securing an estate plan, and also one of the most important. Having a competent executor, (or trustee) after all, helps to manage your clients’ affairs and wishes according to their directions. But...
Life Insurance Policies are a Lot Like Cars: You Need to Get Under the Hood of Your Policy
If we’ve ever been fortunate enough to enjoy a conversation, hopefully, I’ve learned something special about you, and you probably know I love classic cars! Life is just more fun when there’s an interesting car needing to be driven somewhere. Take for example the 1958 Chevy Corvette C1. Just because I don’t fit in it...
COVID and Other Factors Influencing the Life Insurance Industry
How has COVID-19 affected the insurance industry in any way? It’s a common question that a lot of folks might ask. After all, the pandemic has turned the way we look at public health on its head. Here are Frank’s thoughts on the issue: Not as Great as You Would Expect While COVID-19 has made...
Life and Disability Insurance Policies are Assigned a Rating Class
Did you know that if a policy is issued at a preferred rating and your health deteriorates the company is not going to increase the cost? However, if the policy was issued at a higher rating, underwriting guidelines have evolved. Some medical conditions are now viewed more favorably than before. Reconsideration to a more favorable...