MDRT member Jack Cima of New York Life’s Advanced Markets division was the featured speaker for BGA Insurance’s June Luncheon at Costa Mesa, Calif.’s Onotria Restaurant recently. As part of BGA’s continuing monthly luncheon series, members of Orange County’s financial community learned why more high-net-worth individuals are looking to Life Insurance as an investment strategy over the more traditional retirement programs such as 401(k) plans.
Cima’s topic combined his experience with today’s innovative insurance products to show attendees the tax benefits associated with tax-diversifying retirement plans. “Since tax rates are at historically low levels, life insurance products become a smarter investment strategy since by retirement time, they’ll probably be higher,” says Barry Zimmermann, BGA President and recent appointee as Government Relations Chair for the National Association of Insurance and Financial Advisors (NAIFA). “Cima has helped brokers nationwide understand the edge we currently have over IRAs, 401(k) plans and other retirement plans that people assume are the only strategy. Plus, there’s the added benefit of protecting your family if the breadwinner dies or is disabled.”
Headquartered in Newport Beach, BGA currently has 12 Brokerage Directors with an average tenure of 15 years on the wholesale side of the industry, but will be adding more in the coming months. In addition to the monthly luncheons, BGA is also hosting webinars and conference calls to provide ongoing education for its clientele.