How Valuable Was Your Dead CEO?

by | Apr 8, 2015 | business life insurance, buy/sell life insurance, CEO life insurance, executives, high net worth, insurable interest, insurance, International Business insurance, key man insurance, life insurance

In all seriousness I hope you don’t ask yourself that question after the fact. Whether you are the President of the company or on the Board of Directors, or the Janitor you should know that the death of the CEO of a company can pass one of two ways, 1. Planned...

Do You Have A Power Of Attorney?

by | Mar 30, 2015 | beneficiary, business life insurance, cancer, customer service, incontestability, insurable interest, insurance, life insurance, life insurance claim, life insurance lapse, life insurance second addressee, partnership business life insurance, stroke

This same subject keeps popping up in new forms. I’ve explained in the past how essential it is for unmarried couples or business partners to have a power of attorney to be able to sign a release of medical records for life insurance in the event that the...

Business Succession Life Insurance Isn’t Just Fluff!

by | Mar 23, 2015 | beneficiary, business life insurance, buy/sell life insurance, CEO life insurance, customer service, executives, insurable interest, insurance, International Business insurance, key man insurance, life insurance

As a business person I can tell you that just the suggestion by someone that I should purchase something else to benefit my business makes me, well, underwhelmed with enthusiasm. I know the problem extends way beyond business and centers around the fact that there are...

A Review Of Type 1 Diabetes Life Insurance!

by | Mar 19, 2015 | application process, approval, budget, business life insurance, children's life insurance, compliance, diabetes, impaired risk life insurance, insurance, life insurance, life insurance approval, Type 1 diabetes

I was contacted today by a woman who was pretty distressed by the fact that Gerber Life wouldn’t approve her 17 year old daughter for life insurance. The young lady has type 1 diabetes and I want to touch on a couple of subjects with this particular situation....

Why Can’t I Exclude My Heart From My Life Insurance Policy?

by | Mar 18, 2015 | application process, approval, business life insurance, cancer, conversion, coronary artery disease (CAD), decline, exclusions, guaranteed level premium, insurance, life insurance, life insurance approval

A client I’m working with is getting a little frustrated because, in order to keep his obligations, he is going to have to convert a current term policy coming to the end of its’ guaranteed level premium period. When I say he is going to have to do this...

Never Let Your Life Insurance Lapse Accidentally!

by | Feb 12, 2015 | application process, approval, business life insurance, cancer, contestability, customer service, death benefit, estate tax attorney, estate taxes, grace period, insurance, life insurance, life insurance lapse, life insurance second addressee, loyal customers, no lapse guarantee

I just got off the phone with a guy who missed the end of the grace period on his $1 million life insurance policy by 3 days. He called and asked for forgiveness and was told that he could fill out a reinstatement application and, if approved, the policy would be...

When It Rains, It Snows!

by | Jan 20, 2015 | business life insurance, buy/sell life insurance, customer service, impaired risk life insurance, Independent agent, insurance, International Business insurance, life insurance, life insurance approval, private pilots

I, we, Hinerman Group, just completed our reunification move to Colorado. Every once in a while I make bad decisions (moving to NM where it rains), but I am more known for my brilliance (coming back to CO where it snows). With that move I am promising more of the same...

When Old Folks Need Business Life Insurance!

by | Nov 25, 2014 | application process, approval, business life insurance, CEO life insurance, executives, insurance, International Business insurance, life insurance, life insurance approval

Being one of them (the old folks) I carefully admit that I was probably a little easier to underwriter for life insurance 20 or 30 years ago than I am today. I am currently working the partners in a company, both in their 60’s, who made a real common error in...

Does Your CEO Need Cash Value Life Insurance?

by | Oct 29, 2014 | business life insurance, buy/sell life insurance, cash value, CEO life insurance, death benefit, insurable interest, key man insurance, life insurance, term insurance

There are definitely two schools of thinking on the subject of how to handle executive life insurance, especially key person policies. Just to put this in perspective, I’m kind of an old guy and I would call the idea of using cash value policies to fund key...

Nothing To Lose? Are You Sure?

by | Oct 27, 2014 | business life insurance, buy/sell life insurance, CEO life insurance, executives, impaired risk life insurance, insurable interest, insurance, International Business insurance, key man insurance, life insurance

I get that business people get tired of hearing about all of the kinds of insurance they should be carrying because I am one. I carry more than what’s required by law in errors and omissions insurance just because of the litigious nature of our country. I err on...

Five Practical Applications of Business Life Insurance!

by | Aug 20, 2014 | beneficiary, business life insurance, buy/sell life insurance, CEO life insurance, customer service, executives, impaired risk life insurance, insurance, life insurance, private pilots

I’ve helped orchestrate business life insurance for everything from the simple loan collateral policy to complicated stock repurchase plans, but what all business life insurance has in common is business succession, making sure the business survives in the event...

Proactive Health Kills Life Insurance!

by | Jul 3, 2014 | angioplasty, approval, business life insurance, coronary artery disease (CAD), executives, family history, heart disease, insurance, life insurance, life insurance approval, life insurance underwriting

I’m working on one of those stranger than fiction life insurance cases right now. When I shopped it and got the first round of responses I literally sent all of them back out and ask them if they had read my request correctly. Surely they had missed something...