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BSMG Blog: Protecting the Future of Families and Businesses

Congress on Track to Pass Retirement Reform Bills

The U.S. House of Representatives easily passed the SECURE Act of 2019 (H.R. 1994) 417-3 on May 23, 2019.  The U.S. Senate currently has its version of retirement reform under consideration – the Retirement Enhancement and Savings Act (RESA) of 2019 (S. 972).  Both acts have many retirement reform provisions involving expanding and preserving retirement savings, administrative improvements, and revenue provisions.

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Vive - Your Job Just Got a Whole Lot Easier!

Term Insurance Revolutionized

Vive is revolutionizing the term insurance business? 5 minute online orders, no paperwork, and underwriting offers in as little as 24 hours.  Vive also creates a better experience for you and your client. Period. This revolutionary platform can make an important difference in the ease, speed-to-issue and profitability of your term life business. See some of the benefits of using Vive below. 

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Optimizing Required Minimum Distributions

Required Minimum Distributions (RMD) are always a hot button with brokers and clients, especially recently when Donald Trump asked the Treasury Department to examine RMD life expectancy and distribution tables due to longer life expectancy and more people working well into their 70’s. Nevertheless, RMDs “are what they are”, a required distribution that every individual who turns 70.5 must start taking from their IRAs. At its simplest level, an RMD will be withdrawn and either deposited into a client’s checking account, or reinvested. Let’s look at other ways to utilize an RMD.

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When will this Bull Market end?

Anyone seen Doc Brown’s Delorean Around?

When will this Bull Market end? Short of grabbing a ride in Doc’s time machine, there’s no way to know…but it’s a hot topic right now. Almost every day there seems to be an article prognosticating that “The End is near for the Economic Boom” (Fortune July 19, 2018) or “Here’s why the Dow will hit 40,000 by 2025” (CNBC July 10, 2018).  There are convincing points on both sides for how long our “Bull” will last this time around. Buzzwords abound as well: Ultra-low unemployment, a looming trade war with China, the threat of inflation, persistently low interest rates, another bubble? Here's a question to consider. 

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Universal Life Policy With Indemnity LTC Rider Owned By An ILIT

The use of an indemnity Long Term Care (LTC) rider is crucial to keep the life insurance death benefit estate tax free. That’s because any rider benefits will be paid only to the Irrevocable Life Insurance Trust (ILIT) as policy owner, and NOT used to pay extended care costs directly to the extended care provider. Since LTC benefit claims are paid only to the ILIT, this indemnity style LTC rider does NOT create an incident of ownership in the UL policy.


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8 Opportunities to Talk to Your Clients About Term Life Insurance

Term Life Insurance prospects are everywhere. You just need to know where to find them. Agents have shared countless stories with us about "picking up" clients in all kinds of places, from the gym to the grocery store line, even in the bar! There is a reason we've made selling term life insurance fast and easy; it is because there are so many reasons to offer it to your clients and prospects! Check out these 8 term opportunities that open a gateway into having the conversation!

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President Trump Signs Tax Reform Into Law

 

After a long and contentious political battle, the U.S. House (224-201) and U.S. Senate (51-48) have passed the Tax Cuts and Jobs Act of 2017.  President Trump signed the bill into law and it goes into effect on 1/1/2018.  Major changes in personal income taxes, business income taxes, and estate taxes will go into effect for tax year 2018.  

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Are Your Clients Wondering About Hybrid Long Term Care Solutions? Part 2

Last week, I talked about hybrid LTC solutions and gave you an in-depth breakdown on what these solutions are and how they are becoming increasingly popular. Today, I'll take it a step further by sharing a comparison of some of the most popular hybrid LTC options.

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2017 Tax Reform Moves to House and Senate Conference Committee

 

The U.S. Congress has spent the last few months slowly working its way through the legislative process to provide major tax reform.  This reform impacts personal income taxes, business income taxes, estate taxes, and taxation of foreign business income.  The U.S House of Representatives passed its version of the Tax Cuts and Jobs Act of 2017 in early November.  The U.S. Senate just passed its version of the Tax Cuts and Jobs Act of 2017 last week. 

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4 Ways to Talk About Long-Term Care


Do you have clients with no plan for long-term care, or a reluctance to plan for the unexpected?

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