An Expert Panel Discussion: Where we stand today and what the future holds for underwriting

An Expert Panel Discussion:  Where we stand today and what the future holds for underwriting
Much change has occurred in underwriting and the underwriting process during the past couple of years.  A great deal of this has centered on how to make life insurance more accessible for prospects who are demanding a faster, better and less invasive application process.  While at the same time, carriers attempt to balance these changes with predictable mortality results. To understand what's happening in the underwriting industry and what the future may hold, we engaged three high profile underwriting industry experts and thought leaders to answer a few questions about their views o...
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Today There’s a $25.84 Million Lifetime Gift Tax Exclusion — Your Clients Can Use It or Lose It

Today There’s a $25.84 Million Lifetime Gift Tax Exclusion — Your Clients Can Use It or Lose It
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...
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Life Insurance Awareness Month: What's Your Story?

Life Insurance Awareness Month:  What's Your Story?
"The most powerful person in the world is the storyteller. The storyteller sets the vision, values and agenda of an entire generation . . . ." - Steve Jobs Gordon Richardson has life insurance in his blood.  He is a second-generation life insurance producer, learning from his father who has been a Windsor friend for decades.  For Gordon, life insurance has always been a key part of what he offers to clients and is integral to his business.  As "Life Insurance Awareness Month 2022" winds down, we asked Gordon to share a story about how practicing his profession provided security ...
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The Inflation Conversation

The Inflation Conversation
  — Your clients are worried.  Life insurance can help. "The actor Paul Picerni was my grandfather," begins Windsor's Dan Picerni.  "I called him Papa.  He appeared in over five-hundred films and television productions.  With eight kids he couldn't afford not to work when the downtimes came, so he filled the lull by selling life insurance.  In the 1950s he bought three nice size life insurance policies to help take care of his family in the event of his death.  Fortunately, the income replacement was never needed, and he lived until 2012.  He continued p...
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A New Look at Limited Payment Whole Life Insurance Contracts

A New Look at Limited Payment Whole Life Insurance Contracts
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 ...
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The 2022 AHOU—Important Underwriting Insight & Potential Case Impact

The 2022 AHOU—Important Underwriting Insight & Potential Case Impact
After a two-year hiatus, the Association of Home Office Underwriters (AHOU) was held recently in person with over 900 attendees present.  Meeting participants included underwriting leadership from all major life carriers, reinsurance companies, exam/lab vendors, industry data/information providers and several technology companies among others.  It was terrific to be back in person at this meeting, networking with industry pros and peers, and gaining important insight and perspective on the current state of life underwriting. Over the past few years and accelerated by the pandemic, th...
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The Real Costs of Waiting - Part Two

The Real Costs of Waiting - Part Two
"Complicated [permanent life insurance] products eat away at the purchasing power of your premium. In most situations, your financial planning will be better served by buying term life insurance and then investing outside of the insurance contract.1 "Do not let anybody tell you that your life insurance policy is a good way to build extra savings. Fall for that and you will end up wasting thousands of dollars over the life of the policy.2 As life insurance professionals, we know that sentiments like those above are nothing new.  And in response, Windsor's recent Blog — Life Insurance and R...
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The Real Costs of Waiting - Part One

The Real Costs of Waiting - Part One
You've met with your clients and their financial advisors on a few occasions and discussed the clients' financial planning and insurance objectives. Things are going well.  The insurance plan and product you are proposing meet the clients' needs exceptionally well, and provide the financial stability they are seeking.  But then you hear it.  The clients want to think about it some more.  When queried, your clients indicate that maybe they will look at this again, but are not sure when that will be. We have all heard it many times before, and know that procrastination and th...
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Life Insurance and Retirement Planning — A View From Outside the Industry

Life Insurance and Retirement Planning — A View From Outside the Industry
  If we had a nickel for every time a carrier suggested we spend more time showing life insurance as a supplemental retirement income strategy, we would have a ton of nickels.  After all, Windsor was started by Jerry Schwartz and Hal Brooks when Universal Life and Interest Sensitive Whole Life were first invented.  From that time on, we've been steadily promoting the unique advantages of life insurance, most recently in our June 2021 Blog on Life Insurance Retirement Plans (LIRP). But we have a stake in the game.  So when life insurance companies encourage us to emphasize t...
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Fast & Furious: Five Problems and Five Solutions in Five Minutes

Fast & Furious:  Five Problems and Five Solutions in Five Minutes
Ready for some fast and furious sales ideas that can help you get a head start on 2022?  Here are some of the best from Windsor and our carriers including:     The retired wealthy client who has no cash The couple on the edge of their seats about estate taxes  The PhD in Financial Engineering  The retiree with overfunded IRAs The business owner who needs to find new ways to keep the best people 1,  The retired wealthy client who has no cash - or who doesn't want to spend it right now. Your client is 78 years old and knows he needs more life insurance – but hi...
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