Whole Life Insurance as a Roth IRA Alternative for Wealthy Individuals

Roth IRAs offer sizable advantages—most notably, tax-free withdrawals after retirement. That said, the income limits on Roths prevent many high-net-worth individuals from contributing to them once they have made the maximum-allowable contribution amount. Certain limited-availability whole life insurance are available through selected independent insurance services firms like American Business that provide many of the same tax advantages as Roth IRAs for wealthy clients who likely will remain in the highest tax brackets even during retirement.

Obtaining High Limits of Life Insurance – Understanding When it Makes Sense, and How It’s Done

There are times when individuals may require high limits of life insurance—for example, with estate taxes or key person insurance. While high limits are attainable, the process can be challenging and must be properly managed by qualified and experienced insurance experts. At American Business, obtaining higher limits of life insurance is a specialty of ours. As part of our commitment to educate trusted partners and their clients on an array of vital life insurance matters, this article will explain when high limits are advisable; who should pursue such policies; and how the process unfolds.

Considering the Many Benefits of Premium Financing for High-Net-Worth Individuals

High-net-worth individuals often have a predetermined need for substantial amounts of life insurance. They seek to preserve their hard-earned assets and take advantage of today’s low interest rates. Premium financing as a strategy accomplishes these goals by offering such individuals an alternative method of funding life insurance premiums. This article explains what premium financing is, and who fits the target profile for this strategy.

Obtaining Life Insurance in the Age of Big Data

In the digital age, the drive to protect our loved ones remains as strong as ever, but the process is once again in transition. Insurance companies aren’t far off from making underwriting decisions from the computer algorithms and vast databases that have transformed our modern lives. For CPA clients who wants new coverage – or to ensure that their existing policies are in order – the potential impact of the new technologies is worth understanding for CPAs and CPA clients alike. Here is what your clients can expect when obtaining life insurance in the 21st century.

Insurance Policy Stress Test – How Does Your Policy Hold Up Under Pressure?

As part of a forensic audit conducted by an experienced insurance professional, an insurance policy stress test utilizes analytical information about a given life insurance policy in order to put various assumptions to task—specifically, mortality, expenses and interest/dividends. Insurance policy stress tests measure insurance policy performance under conditions beyond current advantageous assumptions.

At American Business, we believe insurance policy stress tests offer huge value for policyholders of CPA clients. Read more about what these tests involve, and how they benefit policyholders

Life Settlements – Knowing the Basics Can Pay Big Dividends

A life settlement is the sale of an unwanted life insurance policy to a licensed institutional investor. This article explains how life settlements can potentially offer significant benefits for insured individuals and their loved ones.

Considering the Benefits of a Forensic Life Insurance Audit and Analysis

Many individuals who have life insurance think they are adequately covered. Yet, time and time again, people purchase life insurance and never review it with a critical eye. Forensic life insurance audits and analyses can be implemented for all five primary categories of life insurance—term life, variable life, universal life, indexed universal life, and whole life. In each case, opportunities exist to optimize coverage and savings for your clients.

Deepening a CPA’s Holistic Advisory Skills Through Life, Disability and Long-Term Care Insurance Education

How often do you as a CPA and your colleagues think about life, disability and long-term care insurance matters as part of your role as advisors to your clients? If the answer is not very often, you should reconsider your position.

Avoiding Common Insurance Tax Traps Means Knowing What to Look For

There are significant taxable implications of life, long-term care and disability insurance policies. Without even knowing it, insureds can easily fall prey to an array of tax traps. In this article, we share 6 common insurance tax traps that you can help your clients avoid.

Understanding the Role of Whole Life Insurance as a Non-Correlated Investment and Retirement Asset

Whole life insurance as an investment allows an investor to spread their risk and realize portfolio appreciation while avoiding the invariable speed bumps that stock market investing presents. This is a wise strategy for investors of any age; but for those planning for retirement, it absolutely is worth pursuing.

Simplifying Mysteries Surrounding Long-Term Care Insurance

According to industry statistics, nearly 70 percent of U.S. adults will require some sort of personal assistance after age 65. This alone makes a strong case for long-term care insurance as a means to ensuring optimal care throughout one’s senior years.

Tax Reform’s Impact on Tax, Life Insurance, Pension and Estate Planning

The implications of the Tax Cuts and Jobs Act are multifaceted and impact wealth and estate tax planning to varying degrees. In this article, we offer some key takeaways as they pertain to personal wealth management, cor­porate and individual planning, life insurance planning and pension planning strategies.