WHITEPAPER: Group Term Life Insurance Carve-Out Plans

Employer-sponsored life insurance has traditionally played an important role in an executive’s pre-retirement planning for family and financial obligations.  Many view the group life insurance plans as a large part of their estate planning strategy.  Group life plans however, are not portable at retirement thus creating a void in the Executive’s planning needs.  A company… Read more »

Something our Kids Don’t Learn in School – How to Secure their Finances

Proud moms and dads across the country spend millions of dollars every year on their children’s education, beginning with private grade schools and continuing to Ivy League graduate programs. One would think that with the amount of money Americans spend on education that Personal Finance, one of the most important areas of life, would be… Read more »

Estate Planning is Ever-Changing

Amy Vos – Case Coordination and Support Estate planning is changing as tax laws are changing. Factors that impact the decision to use a lifetime gift or include as an asset in an estate during estate planning decisions include: (1) Asset basis (2) Appreciation/ Growth Potential (3) State Taxes Below is further detail on how… Read more »

The Latest on Retirement

Lindsey M. Bessy, ALMI, CLTC, MBA, CLU, CASL – Financial Advisor The idea of retiring at age 65 might be a trend of the past according to recent surveys such as Northwestern Mutual’s “2015 Planning & Progress Study”. Actually, 62% of adults are anticipating working beyond the age of 65 as a matter of necessity…. Read more »

Permanent Life Insurance: Policy Loans Provide a Living Benefit

Dylan Habeeb- Products and Case Design The words “life insurance” are generally associated with funds available at death. While this is true, there are also benefits to permanent life insurance that can be taken advantage of during one’s life, such as utilizing policy loans. A policy loan works by borrowing money from the insurance company… Read more »

BOLI / COLI Case Study: Supports the Bank and its Community

Background: The bank initially purchased BOLI on a few of its executives and directors to informally finance the cost of deferred compensation plans. Later, the bank decided to purchase additional BOLI (on a Guarantee Issued basis) on all of its existing officers where the bank was the owner and sole beneficiary without establishing new or… Read more »

Are Nonqualified Defined Benefit Plans (SERPs) Still Relevant?

Dylan Habeeb – Presentation and Case Design Specialist The current problem facing Defined Benefit Plans (both Qualified and Nonqualified) in the corporate market: It is estimated that 93% of Qualified Defined Benefit Plans are underfunded. Companies are getting rid of and amending Qualified Defined Benefit Plans due to the low interest rate environment and having… Read more »

BOLI / COLI Case Study: Supports Business Succession and the Executive’s Family

Background: The bank implemented a Salary Continuation Plan as a way to reward and retain certain key executives. The Bank purchased BOLI as way to informally finance this benefit plan while also providing key person protection for the Bank. Need: One of the bank’s top executives passed away suddenly. Based on the Salary Continuation Plan,… Read more »

Trust-Owned Life Insurance (TOLI)- To Have and to Manage

Trust-Owned Life Insurance (TOLI)- To Have and to Manage Patrick J. Marget, JD, CPA, CFP, CLU- Managing Director Facts: 25% of non-guaranteed TOLI will lapse during the insured’s lifetime, even with current scheduled premiums being paid. More than 70% of TOLI policies have no servicing agent. 83.5% of trustees have no policies or protocols in… Read more »