by Ed Hinerman | Oct 7, 2007 | estate taxes, insurance, life insurance
As explained in a previous post, if the owner of a policy sets up a life insurance trust and changes the ownership and beneficiary to the trust, and a death occurs within three years of that change, the IRS will roll the clock back to original ownership and...
by Ed Hinerman | Oct 7, 2007 | estate taxes, insurance quotes, life insurance
Life insurance proceeds are about the only source of money that is income tax free. This gives added value to the benefit that you leave your beneficiaries. There is one area that you need to be careful with beneficiary designations. The IRS has a three year look...
by Ed Hinerman | Sep 16, 2007 | Burial insurance, estate taxes, final expense life insurance, insurance, life insurance, term insurance, universal life, whole life
Term insurance or whole life? Term insurance or universal life? How should you decide just what product best fits your need for protection for your family? I’ve discussed in numerous posts how to determine the proper term length and the proper use of term...
by Ed Hinerman | Aug 23, 2007 | estate taxes, insurance, life insurance, second to die insurance
Is the need for second to die life insurance going to go away? Will the estate tax really disappear in 2010? Should you jump to decrease your life insurance because of the new exemption limits? Well, in the world according to me the answers would be NO, NO and NO! The...
by Ed Hinerman | Jul 18, 2007 | Burial insurance, estate taxes, final expense life insurance, insurance, life insurance, second to die insurance, universal life, whole life
Here’s where you can get a whole helping of my opinion that has grown and matured and reformed and settled since I sold my first whole life policies in 1978. Both whole life and universal life are meant to be permanent insurance. They are meant to be there until...
by Ed Hinerman | Jun 7, 2007 | Alcohol Treatment Life Insurance, cancer, Depression, Drug Treatment Life Insurance, estate taxes, heart disease, insurance, life insurance, private pilots
A Simon and Garfunkel song with the line, “my lack of education hasn’t hurt me none”. Well that may be just fine for most life insurance agents, but the fact that it hasn’t “hurt them none” isn’t really the point. How many...
by Ed Hinerman | Feb 3, 2007 | estate taxes, insurance, life insurance, term insurance, universal life, whole life
Let’s start with definitions of whole life, term insurance and universal life. Whole Life, as a product, is now very rare . These days it is actually more of a generic term referring to permanent, usually universal life insurance. The definitions! Whole life...
by Ed Hinerman | Jan 31, 2007 | estate taxes, insurance, life insurance
As we close in on 2010, the year that congress is slated to do away with estate taxes, is there anyone out there that really believes estates won’t be taxed after 2010? Personally I believe the government will take action to leave the estate tax on the books....
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