by Ed Hinerman | Aug 5, 2008 | insurance, life insurance, term insurance, universal life, whole life
Ah, the age old argument. Term versus permanent (whole life or universal life)! Not that I think for even a minute that this list will win over anyone who sells whole life, but I just felt compelled to throw out a list of perfect uses for term insurance. 1. A 30 year...
by Ed Hinerman | Aug 4, 2008 | Independent agent, insurance, key man insurance, life insurance, universal life, whole life
Every once in a while I talk with a client who explains to me what they need from their life insurance policy and what the last agent they dealt with sold them and it leaves me wondering if the agent heard anything the client said. Or, perhaps, the last agent just...
by Ed Hinerman | Jul 31, 2008 | insurance, life insurance, term insurance, universal life, whole life
It’s no secret that I’m a fan of Dave Ramsey. My wife and I have been through his Financial Peace University and his no nonsense approach to finances has reshaped, or perhaps given shape, to our approach to money management. Dave is about as clear and...
by Ed Hinerman | Jul 29, 2008 | insurance, life insurance, term insurance, universal life, whole life
The argument of term versus permanent insurance has raged on since before I first got into the business in 1978. Back then the defining lines between the two were more stark, with the only term product available being a yearly renewable term, a product with a low...
by Ed Hinerman | Jul 23, 2008 | AARP, insurance, life insurance, term insurance, whole life
I recently applied for and received an AARP Group term life policy underwritten by New York Life. In previous posts I believe I’ve clearly made the point that these AARP offerings are a rip off of the sleaziest form, claiming to be advocates of the elderly while...
by Ed Hinerman | Jul 22, 2008 | insurance, life insurance, universal life, whole life
If I’ve gone bonkers once, I’ve gone bonkers 100 times about agents that sell universal life and whole life policies based on current or assumed values and not based on guarantees. If you have a policy that was sold based on the assumption that a company...
by Ed Hinerman | Jul 7, 2008 | AARP, insurance, life insurance, term insurance, universal life, whole life
With each new magazine or bulletin, my love/hate relationship with AARP is souring. I’m having a hard time feeling the love these days. I got their most recent bulletin (cheaper than a magazine advertising mode) today. An article caught my eye that had to do...
by Ed Hinerman | Jun 10, 2008 | Independent agent, insurance, life insurance, term insurance, whole life
You have to love those one liners that just go on and on. I was always especially fond of the first President Bush’s “Read my lips” line. If Barbara Bush is anything like my wife she is probably still giving him a bad time over that. Well, now that I...
by Ed Hinerman | Jun 5, 2008 | insurance, life insurance, term insurance, universal life, whole life
OK. It’s been months, but Suze Orman has crawled back out of her cave and pretended that she knows all that needs to be known about life insurance. I am a huge advocate of the fact that term life insurance works well for most life insurance needs. The truth is...
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 29, 2008 | Burial insurance, final expense life insurance, insurance, life insurance, universal life, whole life
Pre-paid funeral plans. Pre-paid burial plots. Burial Insurance. All are products that are designed to tug at the emotions, tug just hard enough to get you to ignore the realities, ignore the math, and ultimately make a decision that is free from logic. If memory...
by Ed Hinerman | May 22, 2008 | Independent agent, insurance, key man insurance, life insurance, return of premium term insurance, term insurance, whole life
Return of premium term life insurance is certainly a hot topic these days, so where do you turn to get an unbiased analysis of whether or not it is a good fit for your financial needs? I guess my best advice is simply to steer clear of anyone that thinks it’s...
by Ed Hinerman | May 21, 2008 | insurance, life insurance, term insurance, whole life
Just one last thought for the day. Mortgage life insurance has been one of the biggest rip offs since it’s inception. No matter how it’s packaged it ends up costing far more than you need to spend. I just found a great example. This particular agency wants...
by Ed Hinerman | May 21, 2008 | insurance, life insurance, universal life, whole life
My true desire is that in another 20 years the country will be purged of all of the fraudulently sold non guaranteed whole life and universal life policies. There should have been some professional good cop/bad cop format in place to keep the disaster that has...
by Ed Hinerman | Apr 22, 2008 | insurance, life insurance, term insurance, universal life, whole life
It seems that every time I write about whole life insurance and the fact that any positive attributes it may have had at some point in history are gone, someone feels the need to point out what an idiot I am. I take it all with a grain of salt since the stern...
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