I’m wrapping up a case that illustrates some guidelines applicable to many. This client is smart, financially gifted, well managed, mature, but he made a decision five years ago regarding a whole life policy which he is reconsidering and sought my advice. The issue of “whole vs. term and invest the difference” is something I […]
If you participate in a defined benefit pension plan it can dramatically reduce the amount of life insurance you need. Few employers sponsor this type of pension plans these days, however they are still typical for government employees, military, school systems, utilities, and some large employers like IBM, UPS, Lockheed Martin, et al. DB plans […]
Defined-benefit pension plans pay a monthly income for life regardless of stock market fluctuations or how long you live. Sweet. However, participants must make a life insurance decision at retirement. It may not look like life insurance, but that’s what it boils down to. They don’t pay a premium as one does with life insurance; […]
I just finished a case that showcased how smart people are tricked by the insurance industry. As I reflected on it I thought of a simple exercise that can keep others from falling into the same trap. I’d like to share the story and solution with you. This client is a surgeon– a pretty smart […]
Consumers naively believe that professional designations are the most important credentials an insurance advisor can have: Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC), or Certified Financial Planner (CFP). Granted, credentials mean the advisor has a reasonable head on his shoulders and has completed a disciplined educational path. I would submit to you that the salutary […]