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Several years ago a well known  Financial Author  asked me to write a chapter for her book containing what I  thought was my best and most clever use of life Insurance that her readers would find unique and of  

Our current financial situation will make any buyer of any new financial product think twice about what they are buying as well as the integrity of whom they are purchasing the product from. However what many people miss is the need to be be as equally vigilant in evaluating those assets they already own.

Henry Montag CFP, a financial planner in Syosset, New York, upon whom we rely on for insurance information strongly suggests that we address this issue. 

Most insurance sold in the past twenty years has been Universal Life Insurance.  Contrary to most people’s beliefs, this insurance will not last forever.  Unlike Whole Life Insurance, it does expire.  Without an annual review of your policy it is entirely possible that you can be left without life insurance when you’ll need it most, in your late 80s and early 90s.  The reason being that when these policies were created in the early  

Medicare is an age based health plan that is provided to individuals that reach age 65. It is partially funded by the Federal as well as State Government.   Medicare will pay for 80% of ones health care costs up to various guidelines and then it stops paying all together. It was never intended to pay for all of ones costs .   In order to cover the 20% that medicare will Not pay for people purchase  A Medicare  Supplement plan. these types of plans will not only pay for the 20% Not covered by Medicare but  will also pay for the various deductibles and co pays that are  the patients responsibilities.
 
Medicare and Medicare Supplement plans are very confusing issues that most individuals that become  

WELCOME WALL STREET JOURNAL READERS!

Chances are pretty good that if you stay healthy eat right and take care of yourself you’ll get to live a long healthy life. The Trusted Expert in our network want to remind you that with longevity comes an added responsibility to do things today to help you financially and emotionally prepare for that long life. This type of planning helps assure yourself that the rest of your life will be filled  

The use of “Indexed annuities” as an Investment vehicle have grown significantly over the last 9 months primarily due to their  ability of providing the annuitant an opportunity to participate in a portion of the growth of the stock or Bond Market , while issuing an Ironclad guarantee against the loss of any principal when held to maturity.

However the one drawback to this type of investment has been its lack of liquidity and loss of control over  

As a result of many peoples failure to plan for many common life occurrences i.e. retirement , a long term illness or death many of these already unpleasant situations can turn into a full blown crisis.

We all know well in advance that wed like to retire somewhere around our 60s to 70s but the unfortunate truth is that unless we plan for this contingency far in advance we wont be able to retire in the manner wed like to. Fact is that 95% of those reaching age 65 economically wont be able to retire and that was even before our most recent economic downturn. That number will now of course increase significantly with not  

There’s nothing more disturbing than to see an individual using an inappropriate Life Insurance product for their needs.  For example if one wants to have maximum protection with the lowest cost possible, for a specific time period say 5-30 years ending by age 80) you should only consider Term Insurance.  An example of where this is appropriate involves the breadwinner of a young family desiring to provide maximum coverage so that his Family can continue their lifestyle in the manner they were accustomed to even if the breadwinner were no longer here to provide for their monthly living expenses and college costs.

If on the other hand you want your insurance to last beyond age 80, for example to create an inheritance for your kids or grandkids, or to be used to pay for your estate tax if you are not married, then and only  

Whether you’re an individual or a company saving premium dollars is always a good idea only sometimes we don’t look as closely or care as much when times are financially less troubling than they are today. Ive been in the Insurance business for 32 years and it goes without saying that when the price of our homes and investments are increasing in value people are less inclined to go out of their ways to look for ways to save money on their Insurance expenditures. However as soon as we hit an