Blog

The purpose of this blog is to give you insight into the many different strategies used in the financial industry that can help you make informed financial decisions. Many of these concepts are used every day by experienced advisers and they can be used to help you.

Wednesday, November 16, 2022

On November 2, the Federal Reserve met and raised short-term interest rates by three-quarters of a percent for the fourth time this year. Although the latest big increase was expected, the stock market still experienced a sell-off...

Friday, October 7, 2022

The markets went a little crazy in late August then went crazier in September. The stock market tumbled, and long-term interest rates jumped higher. This all occurred even though gas prices continued to decline, and the economy...

Thursday, September 29, 2022

Wall Street is always searching for a hero to embrace or a villain to blame. And right now, Fed Chair Jerome Powell is the villain.After the September Fed meeting, Powell said interest rates may be heading higher for longer than...

Monday, September 12, 2022

July’s market recovery continued for most of August, but then came Jackson Hole. That’s Jackson Hole, Wyoming, the site of the Federal Reserve’s annual symposium, which took place August 25-27. Fed Chairman Jerome...

Thursday, August 4, 2022

July brought a mix of good news and bad news for the economy and financial markets. On the good side, the stock market rebounded after hitting its lowest level of the year in June. On the bad side, the U.S. economy shrank again in the...

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Monday, July 11, 2022

It’s official. The S&P 500 is now in a bear market, meaning down more than 20% from its early-year peak. The Nasdaq is also down around 35% after a June in which investors increasingly shifted their focus toward the possibility...

Tuesday, June 21, 2022

Stocks moved lower last week as recession fears deepened following a Fed hike in interest rates and weak economic data.The Dow Jones Industrial Average fell 4.79%, while the Standard & Poor’s 500 dropped 5.79%. The Nasdaq...

Monday, June 13, 2022

A higher-than-expected inflation report triggered a sell-off on Friday, leaving stocks in the red for the week.The Dow Jones Industrial Average lost 4.58%, while the Standard & Poor’s 500 dropped 5.05%. The Nasdaq Composite index...

Thursday, June 9, 2022

April showers bring May flowers. That saying is a pretty good metaphor for how things played out last month in the financial markets. After an April in which the stock market fell, inflation soared, and long-term interest rates took...

Wednesday, June 8, 2022

In a holiday-shortened week of volatile trading, stocks surrendered some of the previous week’s strong gains.The Dow Jones Industrial Average fell 0.94%, while the Standard & Poor’s 500 declined 1.20%. The Nasdaq Composite...

Friday, May 27, 2022

As you already know the Fed has been raising interest rates in order to curb inflation. This has caused many insurance companies that issue fixed annuities and fixed indexed annuities to also raise their rates regarding fixed rates,...

Saturday, May 14, 2022

Friday, May 6, 2022

Sunday, May 1, 2022

Monday, April 11, 2022

Saturday, March 12, 2022

Tuesday, February 22, 2022

Throughout my practice, I’ve often emphasized why it’s so important to have a retirement plan focused on retirement income as pensions slowly become a thing of the past and Social Security becomes more strained....

Friday, February 4, 2022

Tuesday, January 11, 2022

In last month’s newsletter I shared my 2022 market forecast, in which I called for a year of stock market growth in the range of 5 to 15%. While I stand by that forecast, recent statements by the Federal Reserve have reinforced...

Thursday, December 16, 2021

We have implemented an exciting new technology designed to help provide our clients with an interactive wealth managementtool and help ensure transparency and help holistic planning.The available services include:• Personal...

Monday, December 13, 2021

Monday, November 15, 2021

Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts...

Friday, November 5, 2021

So much for “The October Effect”. The idea that stock market crashes are common in October was not only rejected by Wall Street last month, but it was also completely reversed. After falling by about 5% in September, the...

Wednesday, October 27, 2021

To help raise revenue to pay for President Biden’s Build Back Better Plan, Congress is considering a number of tax law changes, including adjusting estate taxes. One of the proposals would reduce the estate tax exemption to...

Monday, October 11, 2021

Last month, I identified several issues that could shake up the markets this fall, and they’ve been shaking them. However, new issues have also emerged. Entering September, the stock market was on a seven-month winning streak...

Tuesday, September 21, 2021

House Democrats are proposing new rules regarding retirement accounts for the rich, part of a restructuring of the tax code tied to a $3.5 trillion budget The reforms are aimed to prevent the use of retirement accounts as what some...

Monday, August 9, 2021

The news keeps getting better for Social Security recipients. It's now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1,2...

Monday, August 9, 2021

On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1This...

Wednesday, August 4, 2021

Corporate earnings season has begun, and the results are turning heads on Wall Street.Of the 120 companies in the S&P 500 index that reported numbers as of Friday, July 23, 89% of them beat the Street’s earnings-per-share...

Thursday, July 1, 2021

Inflation is defined as the general upward price movement of goods and services in an economy. The key word is “general.” Inflation tends to be uneven and affects the price of some items more than others.If you’ve...

Tuesday, June 22, 2021

At its June meeting, the Federal Reserve confirmed what many of us have suspected for some time: prices are rising. In fact, prices are climbing faster than many expected. In response, the Fed raised its inflation expectation to 3.4%,...

Tuesday, May 11, 2021

What does it mean when two of the most powerful voices in American financial life seem to be saying two different things? In one corner, we have the “Oracle of Omaha,” investor Warren Buffett. As one of the nation’s...

Monday, May 10, 2021

I really enjoyed being on The Income Generation show with David Scranton recently along with guests Laurence Kotlikoff (economist), Anthony Saccaro, and Jeff Small. In the segment below I was asked the question "Do I find that many...

Wednesday, April 28, 2021

In my recent Educational Video Series, I discuss the advantages of a Cash Balance Plan vs traditional retirement plans. A Cash Balance plan is a type of IRS-qualified retirement plan known as a “hybrid” plan. In a Cash...

Tuesday, April 27, 2021

In my recent Educational Video Series, I make the case for fixed income. A renewable resource is a resource that can replenish itself naturally over time. We hear the term “renewable resource” used often when referring to...

Monday, February 1, 2021

Why spending down principal in retirement is not a good idea? What is reverse dollar-cost averaging? Why should you consider the effects of inflation on healthcare costs in your retirement? Spending principal in retirement has never...

Wednesday, January 20, 2021

As election season draws to a close, it's a great time to review what type of legislative support would be needed to pass certain policy proposals that may come forward from the Biden Administration. It's important to remember that...

Monday, January 11, 2021

Many of you who follow the market may be wondering why does the stock market keep going up setting record highs amid a pandemic, shutdowns, and layoffs across the country? Many of the fundamentals just don’t support where the...

Wednesday, January 6, 2021

As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive. Self-employed Americans, and the people working for them, account for roughly 30...

Friday, January 1, 2021

We have partnered with a network of attorneys across the country to provide you with an affordable way to access their services. Each Estate Plan is customized to your needs and requirements. Also, each plan is approved by a licensed...

Thursday, November 12, 2020

Now that several major news groups have projected Joe Biden the winner of the presidential election—and Congress appears divided with Democrats in control of the House and Republicans the Senate—it’s a good time to...

Monday, October 5, 2020

It should come as no surprise to hear the economy is the top issue for voters in the 2020 election. Nearly 8 in ten voters say that the economy will be very important to them when they cast their votes.1 But when voters say...

Wednesday, September 30, 2020

There is an ideal order in which to pull funds from retirement accounts when taking IRS Required Minimum Distributions (RMD). The goals, which often go unheeded, are to minimize taxes, minimize taking principal, and earn as much as...

Tuesday, September 29, 2020

Ensuring that your business not only survives but thrives during the pandemic may sound like a tall order. But there are plenty of actions business owners can take mid-pandemic that can help them come out the other side even stronger....

Wednesday, September 23, 2020

Under current law, each individual has an $11.58 million gift tax exemption and an $11.58 million generation-skipping transfer (GST) tax exemption. These amounts are scheduled to decrease to $5.49 million, adjusted for inflation, on...

Thursday, September 17, 2020

One disadvantage of owning a term life insurance policy is that it is not a permanent life insurance policy, nor does it have any cash value. Once the term is up you would have to renew or purchase a new policy with a higher premium...

Tuesday, September 15, 2020

Did you know that 30.1 trillion dollars are owned by individuals in qualified plans? What if you could move assets that seem to be trapped in your qualified retirement plan? Investors who have assets of 1,000,000+ and a total net...

Friday, September 11, 2020

A late week sell-off sent stocks broadly lower as investors took some profits after stocks reached all-time highs earlier in the week.The Dow Jones Industrial Average slid 1.82%, while the Standard & Poor’s 500 slumped 2.31%...

Thursday, September 10, 2020

Florida is considered by many as one of the world’s premier vacation destinations. Just during the first six months alone in 2019, nearly 69 million tourists visited the state which was a 5.6 percent increase from the previous...

Tuesday, September 1, 2020

The Dow Jones Industrial Average (DJIA), one of the most widely followed stock market indices, has made some key changes to its starting lineup. Salesforce.com, Amgen Inc.and Honeywell International Inc. have replaced Exxon Mobil Corp...

Thursday, August 20, 2020

Here is an interesting financial planning tool for legacy planning and philanthropic interest. Its called a Charitable Lead Annuity Trust (CLAT) which is a type of trust that helps in legacy planning for both philanthropic interests...

Tuesday, June 23, 2020

With the DOW up nearly 40% and the S&P 500 up nearly 28% from Mar 23 when the market hit its bottom due to COVID-19 you have to wonder if the fundamentals really support this market rise? There seems to be a great disconnect between...

Wednesday, May 27, 2020

Does your Financial Advisor listen to your temperament? Have you asked your advisor to be more conservative and he or she fought you on it? Could it be that the reason why some financial advisors do not listen to their clients when...

Friday, May 1, 2020

The U.S. Census Bureau and the Department of Housing and Urban Development on April 16 reported that new home construction starts for single-family homes – like the ones provided by D.R. Horton and NVR's Ryan Homes -- were down...

Saturday, April 25, 2020

Thanks to COVID-19, flying is down, driving is down, and the price of fuel is way, way down. On April 20, U.S. crude oil dropped to its lowest level in more than 30 years, due to a slump in demand. That day, West Texas Intermediate...

Tuesday, April 14, 2020

Attached to this blog article is a 2020 Tax Planning Guide to help you prepare for the 2020 tax season. This informative and comprehensive guide explores the nuances of the tax code and how you can take advantage of changes. In this...

Monday, April 6, 2020

My team and I built a platform to help you in moments of such unpredictability. We created a 14-part video series to help you confidently prepare for retirement, especially in times like these. Luckily, the videos are all online, so...

Monday, March 30, 2020

When most people think of estate planning, they usually think about wills, trust, and where your money goes after you die, but it’s actually much broader than that. It includes other things of which you might not be aware of. In...

Thursday, March 26, 2020

Let's discuss one overlooked estate planning tool for high net-worth individuals is called Premium Financing and why Premium Financing should be considered in creating an efficient plan. In one of my recent educational videos, I...

Monday, March 23, 2020

You've probably have noticed in several of my other videos I have mentioned some of the hidden dangers behind Investing in bond mutual funds and why brokers/advisers like to recommend them vs individual bonds. In my recent Educational...

Friday, March 20, 2020

In my recent Educational Video series, I discuss some of the ways you can maximize your Social Security benefits. Before you retire, you should know what all your various sources of income will be, and how much you can expect to...

Wednesday, March 18, 2020

There is a lot of fear in the market as you may well know over the coronavirus pandemic and the effect it is having on the economy. The last three years of gains have basically been wiped out in just a few weeks as oil prices at the...

Sunday, March 15, 2020

When doing research on certain subjects these days it can very difficult to get objective truthful information on a subject with so much spin in the media. Financial news is particularly susceptible to being “spun” a...

Wednesday, February 26, 2020

The recent market decline over fears of the coronavirus and the impact it could have on the economy should cause investors to reconsider how much risks they want associated with their retirement savings. The DOW Jones Industrial...

Friday, February 7, 2020

Social Security and Medicare premiums, taxes, and cost-of-living adjustments (COLAs) can be confusing. And adding to the complexity are those years affected by the hold harmless rule which can make it that much more difficult. To help...

Saturday, February 1, 2020

The market fell sharply Friday with Dow losing 603 points, or 2.1%, in its worst day since August. The S&P 500 shed 1.7%, while the Nasdaq dropped 1.6%. This recent sell off comes as traders grow increasingly worried about the...

Saturday, October 19, 2019

In our recent educational video series, I discuss why do you think the U.S. government forces you to take Required Minimum Distributions (RMDs) when you turn age 72 now because of the SECURE Act (70 1/2 before January 1, 2020) from...

Saturday, October 19, 2019

Now comes the moment you've been waiting for in my educational video series. It’s the time that you will be able to learn a bit about this so-called universe of non-stock market income-generating investment options. There are...

Saturday, October 19, 2019

Some of you who watched my previous videos might wonder why I feel so certain that these predictable, repeatable cycles in the stock market, that have continued over time, will continue to be as predictable and repeatable in the...

Saturday, October 19, 2019

Do you believe that history tends to repeat itself more often than not? Why is this so important? It's important because I was able to use market history in the late 1990s to predict that we were going to go into what probably would be...

Saturday, October 19, 2019

I am often asked how I was able to predict the first market drop that started in the beginning of the year 2000 a year in advance, and the second drop in 2007. There are a couple of different answers here. In my educational video...

Friday, October 18, 2019

Do you have a financial defense? When I talk about financial defense with potential clients, I usually start by asking them this question: "If you have a stock portfolio that loses 50-percent of its value, do you know what percentage...

Tuesday, October 1, 2019

When you’re looking for the highest annuity payouts we’re usually speaking about a Single Premium Immediate (SPIA) which can provide a fixed income for life or a specified period. It’s just a payout of your own money...

Tuesday, August 13, 2019

Let’s talk about risks. With the threat of trade wars between China and the U.S. looming and the spread between the 2-year and 10-year Treasury yield narrowed to only 6 basis points today near its lowest since 2007 the odds that...

Wednesday, June 5, 2019

U.S News & World Report Money recently asked me for my thoughts on what happens if you work wile receiving Social Security. There are many reasons why someone may still want to work even after receiving social security benefits. Maybe...

Wednesday, April 3, 2019

In a recent survey done shows that many Americans aren’t saving anything at all. A recent Bankrate survey found that 74 million Americans have more credit card debt than emergency savings. Credit card debt can be a real drag on...

Tuesday, April 2, 2019

There is a new indexed annuity being launched today geared toward clients 70½ and older who don't need the money that the government requires they withdraw each year from retirement accounts in the form of required minimum...

Thursday, March 21, 2019

There is a way to take distributions from an IRA prior to age 59 ½ without a 10% penalty from the IRS. It’s called a 72(t) Distribution. The 72(t) Early Distribution Illustration helps you explore your options for taking...

Saturday, March 16, 2019

The CPA Journal had an article back in 2009 titled "Premium Financing: The Time Is Now" which discusses using premium financing for estate planning purposes for high net-worth individuals. The article makes the case why premium...

Thursday, January 10, 2019

Social Security according to latest SOC Board of Trustees report last June is currently paying out benefits to nearly 63 million people and was expected to payout more than it collected in 2018. The last time this happened was back in...

Thursday, January 3, 2019

There is an old saying “if you fail to plan, you are planning to fail! Same could be said regarding planning for retirement. Many people have an idea of what their life style should look like in retirement but few have a detailed...

Wednesday, December 26, 2018

Its that time of the year again. If you're a business owner here are the rules on the new 20% Pass-Through Income Deduction for 2018. Owners of certain pass-through businesses will be allowed to deduct up to 20% of qualified business...

Monday, December 24, 2018

The Federal Reserve raised its key interest rate Wednesday for a fourth time this year to combat inflation so they say. The goal of the Federal Reserve is to maintain an inflation rate of around 2% while November the inflation rate...

Monday, December 17, 2018

It's been a roller-coaster ride this year if you've been in the stock market. The DOW closed today down 507.53 points down 4.56% for the year and the S&P 500 was down 54.01 points down 4.78% for the year. There are solutions to...

Tuesday, November 20, 2018

The IRS recently issued its inflation adjustments for the 2019 tax year, affecting more than 60 provisions in the tax code. Here are some of the major highlights to be aware of for both you and your clients: • Income Tax Rates:...

Saturday, November 17, 2018

In a recent article written by Rebecca Lake for Investopedia titled "Retirement Planning Doesn't Stop When You Retire" I was asked for my thoughts on the subject and why you should still have a saving mindset when it comes to your...

Wednesday, October 31, 2018

Life insurance provides provides the reassurance of knowing that if something happened to you , your loved ones would be protected. The death benefit passes income-tax-free to beneficiaries and can be used for a variety of financial...

Wednesday, October 31, 2018

If you’re thinking about changing jobs and are tempted to cash in a portion of your 401k plan or all of it there many things you should consider. According to Forbes employee turnover rate is the highest it’s ever been in.

Wednesday, October 31, 2018

The challenges young people face today regarding retirement planning are far more different than what their parents or grandparents faced in the past. In the past one could stay with one company 20-30 years and retire with a pension...

Tuesday, October 23, 2018

One of the biggest obstacles you will face while building wealth over your life time will be taxes. Winston Churchill said it best “We contend that for a nation to try to tax itself into prosperity is like a man standing in a...

Saturday, September 29, 2018

Owners of certain pass-through businesses will be allowed to deduct up to 20% of qualified business income from a partnership, S corporation, or sole proprietorship (not an LLC or C corp) for #tax years after December 31, 2017, and...

Wednesday, June 27, 2018

Chamberlin Financial has a strategic partnership with Legacy Tree Foundation to offer charitable planning services to our clients. Legacy Tree Foundation only works directly with advisers, not the public so you must work directly with...

Monday, June 18, 2018

Kai-Zen is a strategy that helps you maintain your current lifestyle in the event of a chronic illness, premature death, or an inability to sufficiently save for retirement. Protecting your earnings is critical to insuring your...

Wednesday, June 6, 2018

According to the Wall Street Journal Social Security is expected to dip into its reserves this year. There are many factors contributing to the depletion of the trust fund including an aging population and lower projected tax revenue...

Thursday, April 12, 2018

The Consumer Price Index rose 2.4% in March compared to a year ago. Rising prices were seen in Hotel rooms, apartment rentals, and hospital costs. The US has had almost no inflation for the past decade until recently. The Federal...

Tuesday, March 20, 2018

In his latest research, economist Roger Ibbotson argues that fixed indexed annuities have the potential to outperform bonds in the near future and smooth the return pattern of a portfolio. Click this link for the full article. On the...

Monday, March 12, 2018

One great way to attract good employees and keep them is to offer an Executive Bonus Plan. An executive bonus plan (Section 162) is a way for business owners or companies to provide additional supplemental benefits to key employees or...

Wednesday, March 7, 2018

How do you create a safe retirement and still participate in the growth of the market? It may sound too good to be true but it's not! You have to have an open mind and consider something that you may have a bias against because of...

Wednesday, February 21, 2018

How many of you remember Black Monday? For those of you too young to remember in finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The...

Wednesday, February 14, 2018

This post is an update to my last post regarding "Reducing Risk in A Volatile Market" The A+ rated insurance company I was referring to just an announced a rate change to their fixed indexed annuity. The new participation rate that...

Monday, February 5, 2018

Today the market plunged for a second straight session, with the DowJones Industrial Average dropping more than 1,400 points and the S&P 500 Index enduring its steepest single-day decline since August 2015, erasing its gains for the...

Tuesday, January 9, 2018

The enactment of the Tax Cuts and Jobs Act (TCJA) represents “the most sweeping overhaul of the U.S. tax code in more than 30 years.”1 For millions of Americans and businesses it means an altered financial and investment...

Tuesday, January 2, 2018

There are many benefits of owning an annuity-like tax differed growth and income for life. But eventually the taxes will be due at an ordinary income rate and for non-spousal beneficiaries, the death benefit will also be taxed. There...

Saturday, December 2, 2017

Tulip mania is a term used to describe a time during the Dutch Golden Age during which contract prices for some bulbs of the recently introduced and fashionable tulip reached exuberantly high levels and then dramatically collapsed in...

Thursday, November 30, 2017

The Dow Jones Industrial average hit a record new high Thursday, topping 24,000 for the first time, adding to the already sizable 2017 gains of 401(k) investors that have exposure to stocks in their retirement accounts. The 2017 stock...

Monday, November 13, 2017

One good thing about the proposed bill is that a reduction in the pre-tax 401(k) savings limit is off the table, for now. The bill has a lot of other details in that do affect retirement savings. For example, the bill released Nov. 2,...

Thursday, November 2, 2017

A lot of people are a little confused about the 2018 open enrollment season. Since President Trump recently cut off a few important Obamacare subsidies paid to insurance companies to help lower out-of-pocket medical costs for...

Tuesday, October 17, 2017

With so many annuities out there it’s hard for an individual to know which one is right for them. If you’re looking for something with NO RISK to the principal but still linked to an index that historically out performs...

Monday, October 9, 2017

A common assumption among those who have assets in qualified accounts is that they actually own them all. Because these funds are 100% taxable a person may own only 60-70% of them. Uncle Sam owns the rest!! This example (click link...

Thursday, September 28, 2017

One of the biggest problems facing high-income earners today is taxes and it's also a problem for anyone deferring capital gains using a qualified account like a 401k or an IRA since withdrawals are taxed at an ordinary income rate. A...

Friday, September 15, 2017

Danica Patrick, professional race car driver and athlete, is the spokesperson for Life Insurance Awareness Month for the second year, spreading the message of financial fitness. "Life insurance is one of those things that you can...

Saturday, August 19, 2017

The Benefits of Owning a Captive Insurance Company A little background on what a captive is an insurance company is. Captive insurance companies are wholly-owned by one or more non-insurance companies to insure the risks of its owner...

Thursday, August 3, 2017

Are potential capital gain issues keeping you from selling your property? Did you know there is a way to sell your property and drastically reduce your capital gains tax? Would you like to free yourself from tenant and maintenance...

Friday, April 21, 2017

Amid predicted tax hikes and market volatility, with 85% of Americans already giving to charity, charitable planning remains a largely untapped opportunity. There are simple programs which can be easily implemented that can provide...

Thursday, February 23, 2017

The likelihood of outliving your assets is REAL! Click here for this free brochure.

Wednesday, January 25, 2017

The word annuity for some can be the end of the conversation drawing upon a perceived Idea of what an annuity is usually based on a lot of misinformation and bad publicity. But yet billions of dollars are put into annuities every year...

Monday, August 22, 2016

Click the link below to learn more about Fixed Indexed Annuities. Fixed Indexed Annuity Insights

Tuesday, August 9, 2016

Many small-business and manufacturers’ associations praised the proposal set by Republican presidential candidate Donald Trump to take the U.S. federal corporate tax rate from the highest to one of the lowest among developed...

Tuesday, April 19, 2016

“PremiumLife Plus™ involves the lending of funds to a person or company to cover the cost of an insurance premium.” Top Reasons to Finance Life Insurance Premiums Leverage – Most self-made millionaires are...

Tuesday, February 9, 2016

Guaranteed Universal Life (GUL) also called “No Lapse or “Secondary Guarantee Universal Life” is really a Term life insurance that has a guaranteed level premium and guaranteed death benefit for a limited period....

Tuesday, February 2, 2016

Even with the markets continuing to set records, there’s still consumer demand for fixed-rate guarantees with principal protection. Most retirees and baby boomers are looking for contractual guarantees and benefits, which has...

Tuesday, January 5, 2016

1. What does a life insurance trust do? An irrevocable life insurance trust or ILIT gives you more control over your insurance policies and the money that is paid from them. It also lets you reduce or even eliminate estate taxes, so...

Tuesday, December 15, 2015

What are some of the tax implications of owning U.S. property as a foreign national? Life insurance can provide planning solutions for the unique U.S. tax challenges that Foreign Nationals face. Resident and Non-Resident Aliens are not...

Sunday, December 13, 2015

We've previously devoted a number of discussions to the use of life insurance by physicians including a look at how to buy insurance and discussions of its specific uses and how much life insurance a doctor and his or her spouse...

Wednesday, December 9, 2015

How it works A good prospect for premium financing might be someone who is still working and needs life insurance, but is not ready to liquidate his assets. For example, let's say Sam, age 67, wants to leave a legacy of $5 million to...