Life Insurance Loan Refinancing
A gentleman has a $2,000,000 mutual whole life policy with an $800,000 loan. He and his wife weren’t even aware of the loan until recently because his agent wasn’t helping manage the policy and the trustee didn’t understand what was going on.
Vetting a Premium Finance Deal
A family office called me in to review and analyze a proposed premium finance deal. After gathering the details of what the family was trying to accomplish and requesting presentation materials, insurance ledgers and financing term sheets, I dove into it.
A Plain Jane Policy Analysis
An estate planning attorney introduced me to a client of his who was the trustee of her parent’s irrevocable trust that owned a $4 million dollar second-to-die policy. As is typical in these scenarios, the trustee understood very little about the insurance and her father was the one “in charge” of the policy over the years but he didn’t understood it much better. Read more...
Details of a Fraud Case
Some success stories are more fun to share than others. This is one of them. Sometimes this work is so fun that I (almost) feel guilty getting paid for it.
I want to start with the premise that there is a difference between idiots and criminals. Some-times the end results don’t differ but the path taken varies widely. I deal with the results of a lot of “professionals” who don’t know what they are doing but, fortunately, I don’t deal with a lot of criminals. However, they exist.Read more...
Life Settlements Saves the Day
The life settlement market is clearly much different than it was 10 years ago but it is still alive and well. The target for finding a qualifying policy is much smaller today but the parameters were likely somewhat unrealistic back then anyway. Read more...
Shooting From the Hip - Hit or Miss
An attorney member of the Wealth Council posted a question on the list serve asking for referrals to a fee-based life insurance advisor. Another member directed him to me and I ended up in an engagement with his client. Read more...
Managing Life Insurance - What does that mean?
Sometimes people ask me what I mean when I say life insurance needs to be managed over the duration of the contract. Most think that means making sure the premiums are paid but, while obviously important, that’s not really it. Read more...
Not an Expert on Life Insurance - Call One
Through experience, an accountant relationship of mine has learned to pass just about anything related to life insurance by me when he sees any clients dealing with something. Usually this is initially a simple phone call on a generic basis but sometimes includes shooting me documents with client information redacted. Read more...
Salvaging Loss in a Life Insurance Policy
An attorney brought a case to me which was typical in many respects. There was a portfolio of policies on multiple family members. Some policies had recently failed and, among the balance of them, some were holding their own and others were rapidly falling apart. Read more...
The Importance of the Second Opinion
Through experience, an accountant relationship of mine has learned to pass just about anything related to life insurance by me when he sees any clients dealing with something. Usually this is initially a simple phone call on a generic basis but sometimes includes shooting me documents with client information redacted. Read more...
Another Second Opinion
The attorney for a billionaire family called me one day at the behest of a mutual acquaintance. The clients were looking to procure $100,000,000 of new coverage and simply wanted a second opinion. Read more...
Timing of Premium Payments
In my May 12th, 2015 post, Why Paying Attention is Important, I referenced a hypothetical issue which has just come across my desk in real life. It has to do with a Guaranteed Universal Life (GUL) policy and the timing of premiums. Read more...