by Ed Hinerman | Feb 4, 2008 | insurance, life insurance, term insurance, universal life, whole life
There are two distinctively different schools of thought on how to provide life insurance for your family. One shcool of thought would have you load your policy with cash value on the premise that the cash value can be a savings or retirement account. Whole Life. The...
by Ed Hinerman | Jan 30, 2008 | insurance, life insurance, term insurance, universal life, whole life
You guessed it. I got another trade magazine with an article suggesting that whole life is the only type of life insurance a person should buy. If you don’t buy whole life as the article suggests, you just don’t get it. I have access to whatever life...
by Ed Hinerman | Jan 28, 2008 | insurance, life insurance, term insurance, universal life, whole life
My wife and I are participating in the Dave Ramsey Financial Peace University. I have to admit that for all that I have been blessed with, great financial management skills have not been part of the package. Dave Ramsey is a no nonsense kind of guy when it comes to...
by Ed Hinerman | Dec 29, 2007 | Burial insurance, final expense life insurance, Independent agent, insurance, life insurance, universal life, whole life
When I sold my first final expense (burial) life insurance policy nearly 30 years ago, it had a face amount or death benefit of $7000. It was certainly, at that time, adequate to properly bury someone and even have a little left over to host a wake. I still get 10-20...
by Ed Hinerman | Dec 28, 2007 | insurance, life insurance, term insurance, universal life
Technology has taken the life insurance business, and everything else, by the throat over the past several years, but for all the savvy geeks have when it comes to how the internet works, is there really any carry over from that intelligence to the basic knowledge it...
by Ed Hinerman | Dec 18, 2007 | insurance, life insurance, universal life, whole life
My recent post about Suze Orman’s lack of life insurance knowledge struck a chord with another life insurance professional, Jack Bobo. While I disagree with the premise of his article “The Tired Tirade Continues” in National Underwriter Magazine, it...
by Ed Hinerman | Dec 18, 2007 | insurance, life insurance, second to die insurance, universal life
In a post not long ago I mentioned that New York was poised to approve the sale of indexed universal life, a form of universal life that uses market indexes to determine actual cash value above the guarantee. Well, they’re off to the races. I ran a spreadsheet...
by Ed Hinerman | Dec 13, 2007 | insurance, life insurance, term insurance, universal life
For the past ten years term insurance prices have been pretty steadily declining. A combination of competition, product selection and mortality experience improvement has driven term rates to an all time low. Now the front has shifted to the universal life insurance...
by Ed Hinerman | Dec 12, 2007 | insurance, life insurance, private pilots, term insurance, universal life
There has been a lot of jockeying over the past few years in who can make the best offer on life insurance for pilots. Generally the discussion has been around term insurance. When American General backed out of the aviation market, they took with them virtually the...
by Ed Hinerman | Dec 6, 2007 | insurance, life insurance, universal life, whole life
It used to. It wasn’t that long ago, 30 years or so, when the only way a person could have permanent life insurance was with a whole life policy. Whole life is a cash value policy that was defined as having a level premium to age 100 with a cash value that...
by Ed Hinerman | Nov 15, 2007 | insurance, life insurance, return of premium term insurance, term insurance, universal life
New York state’s insurance department is inching their way toward the 1980’s in their life insurance product availability. You would have to live there to appreciate (or not), just how antiquated the mortality assumption logic is. A good example, probably...
by Ed Hinerman | Nov 13, 2007 | Independent agent, insurance, life insurance, universal life
If you have parents in their 50’s through early 70’s and you don’t know what they have in place for life insurance, ask. Why that age group? They are generally still young enough to get affordable insurance, and they seem to be an age group that...
by Ed Hinerman | Nov 10, 2007 | insurance, life insurance, universal life, whole life
Wouldn’t it be great as an employer if you could offer the best benefits packages available to your employees and not spend a dime……….eventually. Corporate Owned Life Insurance, COLI, and Bank Owned Life Insurance, BOLI, are life insurance...
by Ed Hinerman | Nov 10, 2007 | insurance, life insurance, universal life
What if you had a large membership payment due, a one time payment, that was due and payable the day you die? What if that payment was substantial, say $150,000. That’s the membership fee at the Alcor Life Extension Foundation, an organization devoted to the...
by Ed Hinerman | Nov 10, 2007 | insurance, life insurance, universal life
I threw out a question to some colleagues the other day concerning the state of in force universal life policies. The question was, what percentage of all universal life policies will lapse before the insured was led to believe it would, even though they have made all...
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