Check out the Latest Trends in Executive Benefits in the latest Schiff Executive Benefits (SEB) Newsletter. This month, learn:
Are you an “Independent” Corporate and/or Bank Owned Life Insurance Consultant? Do you remember the Ramsey Study Group in the late 2000’s?
Well, if you want to be part of a group of “like minded” producers who wish to learn and share knowledge with some of the brightest and best in the business, then plan on being in New Orleans, November 5th to 7th, for a fast paced knowledge summit specific to the advanced planning market of corporations and banks. Meeting will be held at the Hotel Monteleone where the latest changes to products, services, and admin platforms will be discussed. Cost savings ideas on existing plans, as well the latest designs and tax law updates will be shared.
Speakers: Mel Todd (COLI Consulting Group), Peter Ricchutti (Professor Tulane Business School), Bud Schiff (Alvarez and Marsal), Dylan Major (Pangburn Group) and MANY more.
Recently the Today Show did a piece on purchasing life insurance and having a will. In this video they explain the Why, How, Costs, Types of Coverage, and who you can buy Life Insurance from.
Writing a will and buying life insurance: What you need to know (today.com)
Did you know that only 31% of people feel like they understand life insurance? Why not get educated and click on our link to the Today Show's clip to learn more. Then, come back and we can help.
Actionable Ideas to Recruit, Retain
and Reward Key Talent
In a time when more executives are walking away from their jobs, what can you do to keep them leaving during the Great Talent Recognition? Well, in this article by Andreas Stuermann, a fellow Lion Street Owner, he shares his ideas and insight into what might interest you and your staff that isn't for everyone, discretionary, and may be fully cost recvoered.
In 2021 the House Ways and Means Committee and Senate Finance Committee have drafted legislation that will dramatically change the taxes on Generational Tax Planning. Words like GRATs, CRATs, FLPs, and ILITs are effected as these "financial instruments" that are usually Grantor Trusts, or set up by a donor (grantor), are set up for long term planning. Well, today that long term planning has to change based upon these new tax rules.
Take a look at what Michael Fontanini of Lion Street highlights as potential problems for families that have these very useful instruments in place.
In this video, Tom Hegna discusses what an Income Annuity is. How it acts likes Social Security or a Defined Benefit Pension. And why you must have this in your portfolio as part of your "assets' in retirement, regardless of how much you have.
At Schiff Benefits Group, we help business owners and their key employees create streams of income in retirement that can't be found by just using your IRA to draw income. At the same time, we protect against a downturn in the market, a long term care event, and a death of your spouse in retirement. Send us an email or call us to learn more.
Ever wanted the "perfect" plan where the company gets a current deduction when the money is paid into the plan, the cash grows tax deferred, and then the participant get the money "tax free"? Well look no further. There is a plan like that available. You just have to be willing to discriminate.
It's called a Restricted Executive Bonus plan and combines to different benefits in one. It has to be done carefully to meet IRS guidelines, but is 100% legal. Nice thing is, it's not carrier or product specific, and has the flexibility as to what type of asset you want in the plan.
To learn more, give us a call or check out our Executive Bonus material. We'd be happy to design a sample for you so that you keep your best people.
What would happen if your business partner died suddenly? You'd be in business with his/her widow. Do you really want to do that?
No. Instead, you want to buy the "cheapest" insurance you can buy at the lowest cost. But many times, you need insurance for 20 or 30 years. In addition, when you pay that premium, it's gone.
What if you could have the same cash flow for a permanent policy as a term insurance policy, have the bank pay your premium, and then in the future, create a stream of income that potential buyout you or your partner in retirement? Wouldn't that be the best of all words? Well you can. You just have to be able to qualify.
Learn more: planning your business succession.
Everyone should have long term care insurance. For individuals over 45, this is the one benefit that you have a 70% chance of using during your lifetime. And the most important benefit is the Coordinated Care Provider that comes with it.