by Ed Hinerman | Apr 27, 2009 | beneficiary, conversion, estate taxes, foreign travel, insurance, life insurance, mortality, mortality risk, private pilots, scuba diving, suicide clause
I did a series of posts last year on life insurance policies and have referred back to those posts on several occasions when explaining some specific clauses and options such as the suicide clause and incontestability clause and the conversion option. Now I would like...
by Ed Hinerman | Mar 29, 2009 | estate taxes, final expense life insurance, insurance, life insurance, second to die insurance, term insurance, universal life, variable universal life, whole life
I’ve been accused of recommending term life for every need and while I maintain that 95% of all needs for the average person are well served by term, there are valid reasons to consider permanent insurance in your portfolio. Before any jumps on that statement...
by Ed Hinerman | Dec 17, 2008 | estate taxes, final expense life insurance, insurance, life insurance, term insurance, universal life, whole life
For as long as I’ve been sharing the “life insurance world according to Ed”, I have beat the drum as hard as I can that there is only one good permanent product out there and it doesn’t have cash value. It’s called universal life with a...
by Ed Hinerman | Oct 2, 2008 | estate taxes, insurance, life insurance, term insurance
Where the heck did my net worth go? This has been one tough month on those of us who are actually middle class enough to care what happens to our retirement investments. For many it is a scramble to get your money to a safe place, with people scrambling to move money...
by Ed Hinerman | Sep 2, 2008 | estate taxes, insurance, life insurance, term insurance
If the proposed changes in the estate tax laws are adopted by congress, and it looks like they will be, the exemption limits will finally be sufficiently high enough to protect the majority of John McCain’s middle class from having the pants taxed off of their...
by Ed Hinerman | Aug 18, 2008 | estate taxes, insurance, life insurance
Historically life insurance used in estate planning has revolved around the issue of estate taxes, with the irrevocable life insurance trust being the stop gap to keep the government from draining off half the value in fairly liquid estates and sometimes completely...
by Ed Hinerman | Jun 23, 2008 | estate taxes, insurance, life insurance
According to the aficionados, the only thing better than a garage sale is an estate sale. In the best of situations this is after all the good stuff has gone to family members and the executor of the estate throws the rest of it in the front yard so their job can...
by Ed Hinerman | Jun 2, 2008 | estate taxes, insurance, life insurance, universal life, whole life
The not so funny standing joke in the estate planning business is that the most lucrative plan would be a plan to die in 2010. The meat behind that joke is, of course, the estate tax revision law that was was passed not long after Bush took office that started reform...
by Ed Hinerman | May 27, 2008 | estate taxes, insurance, life insurance, second to die insurance, universal life
Estate tax repeal, just like getting older, is gently creeping up on us at about the speed of a Lear Jet. In 2010, if congress doesn’t do anything the estate tax will disappear until, of course, reinstated by a congress and president of sound mind. Most of those...
by Ed Hinerman | Mar 8, 2008 | estate taxes, insurance, life insurance, second to die insurance
However the elections shake out, congress and the new president will be dealing with the estate tax issue over the next year. Already a myriad of options have been thrown into the hopper. Amost no one and none of the proposals point to the elimination of the federal...
by Ed Hinerman | Feb 18, 2008 | cancer, estate taxes, insurance, life insurance
There are a couple of reasons this upcoming election could have an impact in the life insurance realm. For most of us poor folks you would think that estate taxes wouldn’t be a big issue. I think it’s significant no matter who you are. Just to recap the...
by Ed Hinerman | Nov 26, 2007 | estate taxes, insurance, life insurance
A recent senate finance committee meeting was convened to hear both sides of the argument on the 2010 repeal of estate taxes. As I have pointed out in previous posts, the estate tax has been modified over the past 7 years to make it less of a burden on medium sized...
by Ed Hinerman | Nov 26, 2007 | estate taxes, insurance, life insurance, second to die insurance
Currently the federal estate tax exemption, the amount of an estate that can pass on to a family without being taxed (at the federal level), is $2,000,000. This is up from an estate gobbling $600,000 just 7 years ago. Remember that a persons entire estate can pass tax...
by Ed Hinerman | Oct 14, 2007 | estate taxes, insurance, life insurance
Writing a check for your life insurance premium may not be up there with getting a hot stick poked in your eye, but it certainly isn’t as soothing as writing a check for a Carribean vacation either. So, if I asked you this. Do you like writing checks to the IRS?...
by Ed Hinerman | Oct 7, 2007 | estate taxes, Independent agent, insurance, life insurance, term insurance, universal life
Most life insurance trusts are funded by permanent insurance, either universal life or whole life. This is generally not an inexpensive proposition, but compared to estate taxes, by far the smaller hit. I mentioned in a previous post that the ownership of a policy...
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