Life Insurance as an Alternative to a Non-deductible IRA – Reason #3: Cushioning a Market Downturn

January 17, 2019by Lina Storm, CLU®, ChFC®, MBA in Retirement Planning

 

The coming tax season is a perfect time to help your high-income clients assess the options available for their additional savings.

In a series of 6 back-to-back blogs we illustrate 5 key reasons why cash value life insurance can be a powerful savings vehicle when compared to other retirement income sources, especially a non-deductible IRA:

  1. Replacing the Post-Retirement Income Gap
  2. Diversifying Taxes at Retirement
  3. Cushioning a Market Downturn
  4. Guarding Longevity
  5. Maximizing Social Security

Today we flesh out Reason #3

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Life Insurance as an Alternative to a Non-deductible IRA – Reason #2: Diversifying Taxes on Retirement Income

January 15, 2019by Lina Storm, CLU®, ChFC®, MBA in Retirement Planning

The coming tax season is a perfect time to help your high-income clients assess the options available for their additional savings.

In a series of 6 back-to-back blogs we illustrate 5 key reasons why cash value life insurance can be a powerful savings vehicle when compared to other retirement income sources, especially a non-deductible IRA:

  1. Replacing the Post-Retirement Income Gap
  2. Diversifying Taxes at Retirement
  3. Cushioning a Market Downturn
  4. Guarding Longevity
  5. Maximizing Social Security

Today we flesh out Reason #2

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Are Generational Split Dollar Plans Still Viable?

January 14, 2019by Highland Capital Brokerage in Estate Planning

Generational split dollar plans remain an extremely powerful planning strategy that, even without the benefit of deep discounts, can address non-tax liquidity needs, and act as an estate freeze technique for the first generation.

To learn more, check out this article by Highland Capital Brokerage’s very own Robert Finnegan, J.D., CLU®, AEP®, that was published in the January 2019 edition of Estate Planning magazine.

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Life Insurance as an Alternative to a Non-deductible IRA – Reason #1: Replacing the Post-Retirement Income Gap

January 10, 2019by Lina Storm, CLU®, ChFC®, MBA in Retirement Planning

 

The coming tax season is a perfect time to help your high-income clients assess the options available for their additional savings.

In a series of 6 back-to-back blog posts, we illustrate 5 key reasons why cash value life insurance can be a powerful savings vehicle when compared to other retirement income sources, especially a non-deductible IRA:

  1. Replacing the Post-Retirement Income Gap
  2. Diversifying Taxes at Retirement
  3. Cushioning a Market Downturn
  4. Guarding Longevity
  5. Maximizing Social Security

Today we flesh out Reason #1.

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Life Insurance as an Alternative to a Non-deductible IRA? 5 Reasons Why

January 8, 2019by Lina Storm, CLU®, ChFC®, MBA in Retirement Planning

 
Planning for retirement income is a key priority for many pre-retirees between the ages of 40-65.

Social Security and employer-sponsored qualified plans may not provide sufficient income to replace a suitable portion of pre-retirement earnings. Once high-income earners reach their contribution limits to an employer-sponsored plan or an IRA, planning strategically for additional savings becomes critical.

Included in the planning process should be an assessment of all available savings vehicles and how the features of each compare to one another relative to:

  • deductibility of contributions
  • tax-deferral of growth
  • contribution limits
  • withdrawal rules and penalties
  • insurance charges
  • susceptibility to market risk
  • coverage for unpredictable healthcare costs

The question then becomes, which savings vehicles to use? Does a non-deductible IRA make sense? Maybe.

Might a cash value life insurance serve as a strategic alternative to a non-deductible IRA? It may.

The coming tax season is a perfect time to help clients assess the options available for their additional savings and to illustrate the flexibility and versatility of cash value life insurance to supplement retirement income.

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2019 Numbers You Need to Know

December 19, 2018by Lina Storm, CLU®, ChFC®, MBA in Financial Planning

2019 numbers you need to know

As you build your 2019 business plans, keep in mind the following inflation-adjusted figures that help to put planning strategies in context.

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De-risking a Concentrated Stock Position

December 17, 2018by Lina Storm, CLU®, ChFC®, MBA in Charitable Planning, Estate Planning

 

It’s so simple it’s scary.

Clients with a concentrated stock position that is intended to transfer to family and/or charity may be able to potentially increase the per share value of the transfer while de-risking the portfolio by using life insurance.

How?

It’s so simple it’s scary.

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The Twelve Ways of Gifting

December 12, 2018by Lina Storm, CLU®, ChFC®, MBA in Charitable Planning, Estate Planning

In the spirit of the holiday season, here’s a run-down of The Twelve Days of Christmas.

Oops, I mean The Twelve Ways of Gifting…

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Age 121 is the New 100: 3 Ways to Rescue Older Policies for Your Clients

December 10, 2018by Lina Storm, CLU®, ChFC®, MBA in Life Insurance

Permanent life insurance policies were designed to last a lifetime. Once upon a time, lifetime was defined as age 100 since few people lived past age 100.

As of 2001, with medical advancements and better healthcare outcomes, the new actuarial tables (CSO 2001) reflected more people living past age 100. From an insurer’s perspective, lifetime began to be defined as age 121.

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IRS Announces “No Clawback” of Gift Tax Exemption Amount

December 5, 2018by Lina Storm, CLU®, ChFC®, MBA in Estate Planning

On November 20, 2018 the IRS issued proposed regulations (expected to be passed) clarifying that the estate/gift tax will not apply to gifts made before 2026, when the amount that can be sheltered from the tax is higher, as provided for by the 2017 Tax Act.

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