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In June, 2019, Windsor's Marty Flaxman wrote one of our most popular blogs, "Today There's a $22 Million Lifetime Gift Tax Exclusion - Your Clients Can Use It or Lose It."    We asked Marty to revisit this post as we approach 2023, with only a few years left for you and your clients to take advantage of this singular opportunity.  The numbers have changed, mostly favorably.   But more important, time is running out.   A successful sale typically has three common elements:  It solves an important problem.  The solution itself is time-limited, meaning that if y...

Early in 2022, Windsor began to see a new growing focus on cash accumulation sales.  While using life insurance to provide funds for future cash flow obligations, be it college tuition or supplemental retirement income, is nothing new, something had changed. In 2020, in an "under the radar" rule change, the §7702 interest rate — which sets limits on premiums, cash values and death benefits for life insurance policies to qualify as "life insurance contracts" for Federal income tax purposes — was revised.  The rates, which were last set in 1984, were 4% for the Cash Value Accumulation ...

A successful sale typically has three common elements:  It solves a large problem.  The solution itself is time-limited, meaning that if you don't take action soon, all will be lost.  And it's a story that you can honestly get passionate about because it's so important to the client. The Tax Cuts and Jobs Act of 2017 created that exact scenario.  Beginning in 2018 and lasting through 2025, the U.S. has dramatically increased the amount of money/assets that individuals can gift to non-charitable entities without being subject to federal gift taxes.  Any client who had m...

C.L.E.A.R.: Confidential Life Insurance Evaluation and Recommendation Inforce Servicing Keeping the Client Well Informed Staying connected with clients is no longer just recommended, it's absolutely mandatory for your ongoing success and the survival of your practice. Retaining clients, finding new ones, and cultivating referral sources is dependent on your firm's ongoing service capabilities and ability to keep clients well informed. You must have the ability to monitor and measure your clients' life insurance portfolio to ensure it continues to meet both their needs and expectations. Communi...

CLEAR: Confidential Life Insurance Evaluation and Recommendation  Existing Coverage Keep, Remediate, Replace or Exit? How many times have you come across a new client whose older cash value policies have been performing exactly as initially projected?  The answer is probably "none." The same holds true for your own established book of clients. CLEAR helps you determine what kind of corrective action should be taken in the event that current policy performance or features no longer suit the client's plans. Should the client keep the existing coverage?Should you recommend a policy cour...

CLEAR: Confidential Life Insurance Evaluation and Recommendation  Underwriting and Mortality Analysis Package each unique story in a compelling manner For your high net worth and business owner clients, life insurance is an asset they can't just buy off the shelf or with a call to a broker.  And the best possible underwriting outcome can dramatically increase the value of this asset. CLEAR Underwriting and Mortality Analysis (UMA) is a critical part of the successful execution and implementation of life insurance planning.  UMA alleviates client concern regarding privacy, and al...

CLEAR: Confidential Life Insurance Evaluation and Recommendation Suitability New Coverage – Assessing and Documenting Needs & Suitability "Suitability" must be the watchword not only for you but for every 21st century financial advisor. Having a process in place that reliably documents suitability provides a clear advantage in the marketplace. In addition to the CLEAR Underwriting and Mortality Analysis, product and carrier suitability is key to both a successful client engagement and compliance with the myriad fiduciary regulations that surround your business. Once you have established a ...

CLEAR: Confidential Life Insurance Evaluation and Recommendation BRINGING TRANSPARENCY TO LIFE In an era that is certain to include greater oversight and fiduciary responsibility, now is the time to distinguish yourself from competitors. Clients today insist on several key qualities in your practice: expertise, transparency, disclosure, objectivity, leverage and an attentive, proactive service relationship. CLEAR is designed to ensure that you stand out from your competitors and deliver the highest level of professional services to your clients. How will CLEAR enhance your practice? You w...