BSMG Blog: Protecting the Future of Families and Businesses

Don’t let your clients “Feel Like a Number”

Bob Seger may have stated it best;

“I feel like just another
 Spoke in a great big wheel
 Like a blade of grass
 In a great big field”

“I feel like a number”

The foundational goal of Risk Differentiation Underwriting (RDU) is to “turn the page” on Mr. Seger’s lyrics and change the title of his 1981 classic from “Feel Like a Number” to “Feel Like an Individual”

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2 Reasons to Consider the Foreign Nationals Market

Why Consider the Foreign Nationals Market?

#1 This Segment Is Growing Faster Than The Population And Is Typically More Affluent. 

Think of employees of multinational corporations stationed, physicians and medical professionals, academics and graduate students or purchasers of vacation properties.

#2 Foreign Nationals Have Unique Estate Planning Needs.

These potential clients require specialized information on strategies and planning. These needs arise based on their tax treatment under the U.S. tax code. Most Foreign Nationals aren’t aware of the considerable estate tax implications they may face, in the U.S. as well as in their home country. Life insurance can be a critical part of a comprehensive estate plan for these clients.

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7 Sources for Potential Foreign National Clients

Take a quick look around you and think about the different faces you see every day on your way to work, getting coffee or in your neighborhood. The key to expanding your practice could be sitting right in front of you. 

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Design an IRA Legacy Plan With Life Insurance

The equities market is recovering and it is becoming more common for individuals to have over $1 million in their individual retirement accounts (IRAs). As these individuals are approaching their retirement years they are collecting income from multiple sources such as the owner's job, Social Security retirement benefits, K-1 "pass-through" income from ownership of S-corp or LLC entities, and rental income from real estate.

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Charitable Remainder Trusts & Wealth Restoration ILITs

A Beneficial Planning Tandem

The benefits of a charitable remainder trust (CRT) working in tandem with an irrevocable life insurance trust (ILIT) are significant for charitable-minded estate owners looking to benefit a public charity or their own private charitable foundation. How does a CRT work, and what are the valuable benefits it can provide? The CRT can be formed either as a charitable remainder annuity trust (CRAT) which can provide a fixed lifetime income to the donor or as a charitable remainder unitrust (CRUT) which can provide a fixed percentage end of year value lifetime income to the donor. 

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