Gifting Life Insurance Policies: Not a Simple Matter
The transfer for value rule can create a serious tax trap for a client who transfers a life insurance policy subject to a policy loan.
In Medicaid Planning, Don’t Surrender Life Insurance—Trade It for LTC Instead
Your clients who are nearing retirement age might often wonder why they bother maintaining the life insurance policies they’ve funded for years. But under some recent state proposals, owning a life insurance policy can actually help clients in LTC planning.
The Value of Variable Life Insurance: Surrender Charges and Fair Market Value
According to the IRS, the policy value equals the cash value of the policy without regard to any surrender charges. So what do your clients have to include in income if the actual cash surrender value of their life insurance policy is negative?
Health Care and Taxes, Pt. 2: Long-Term Care Insurance
The experts at Tax Facts Online discuss whether long-term care insurance premiums are tax deductible.
Protecting Life Insurance Beneficiaries From a Windfall
Do your clients want to control how their beneficiaries get death benefits? A new trend in product offerings may be of service.
The Life Insurance College Savings Bank
Your clients may not be aware of the possibility of using life insurance as a college savings tool.
What Makes a Smart Insurance Consumer?
A survey by LIMRA found most consumers have a limited understanding of life insurance and identified what factors make for an informed consumer.
Fiscal Cliff Law: Clients’ Taxes, What’s Next, and How to Plan
All you need to know about the American Taxpayer Relief Act—both good and bad—and how it will affect your clients and their planning.
The Life Insurance Fiscal Cliff: No Tax Preference Is Safe
The potential elimination of many tax preferences currently afforded life insurance is one facet of today’s fiscal cliff discussions that is often overlooked. In today’s political environment, no tax preference is safe.
Maximizing Charitable Giving Through Universal Life Insurance
Avoiding the complications of estate taxation and the U.S. probate system may be key reasons to allow high-net-worth foreign clients to include sizable charitable donations in their estate planning.