I regularly get asked about the “Insurance Triangle”, what it is and how it plays into things. This is a reference to the “Goodman Triangle” Goodman V. Commissioner, 156 F.2d 218
In this case Mrs. Goodman transferred five existing policies insuring her husband’s life to a Revocable life insurance trust. Beneficiaries of the trust were her three children and her sister-in-law. About a decade later her husband died and the trust became irrevocable.
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While those who know me understand that I can be critical of some aspects of the life insurance industry, I don’t throw carriers and agents under the bus for the fun of it. However sometimes I just have to shake my head.
In previous writings I have referenced the fact that some agents are Read more…
I was in Orlando at the Heckerling Conference when the January Issue of Trusts & Estates came out. Richard Harris came by to see me and made a comment on my piece in the magazine and let me know he had an article in the same issue that I might like to read. At my first opportunity I read it and then tracked him down and told him that I was upset by what he wrote. Why? Because I was in the process of writing essentially the same article and he beat me to it. Of course I had some fun with that but now I am relegated to commenting about his article which may actually be a bit easier than completing my own. Read more…
“Managing Life Insurance” by Bill Boersma
We are pleased to have an article by Bill Boersma included in this month’s “Trusts & Estates” issue.
“Managing Life insurance”, Ongoing Management is Vital to Ensure Policy Performance, is a relevant and thought-provoking piece you will want to read thoroughly.
If you are not a regular subscriber to “Trusts & Estates”, you may follow the link below to access the article in its entirety.
Recently a local advisor asked me what my thoughts are on guaranteed life insurance. I thought I would share with you my response.
Traditionally the consumer market has understood that all life insurance is guaranteed and decades ago it was. Since the seventies Read more…
As a life insurance consultant I am in the business of helping policy owners and their advisors understand what is almost universally deemed to be a very complicated product which offers little transparency. Read more…
Recently I listened to a piece on NPR which was based on an investigation by Bloomberg Markets magazine. There was a piece on July 28 on “All Things Considered” and a separate, related piece on July 29 on “Morning Edition.” Read more…
After all the activity and fuss regarding life settlements over the past number of years, why isn’t there as much conversation now as there used to be? Where is this market heading? Who should be paying attention?
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Life insurance is a vital consideration for family business
Let’s face it, not a lot of us are excited about life insurance. “A necessary evil” is how it is often described. Read more…
I am writing about this 2006 law today because, from my perspective and through personal experience, I do not see very many insurance and professional advisors talking with their clients about this issue. The potential downside in terms of unexpected Read more…
