More Than a Game

More Than a Game
In November of 1960 the season was more than half over when the 6-1 Philadelphia Eagles met the 5-1-1 New York Giants with first place on the line in the NFL's Eastern Division. The Giants jumped out to a 10-0 first half lead, but the Eagles fought back to take a 17-10 advantage late in the fourth quarter. The Giants were driving toward a tying score when Frank Gifford, their All-Pro halfback, ran a quick slant pattern across the middle. He caught the ball, but was knocked off his feet by Chuck Bednarik, a 6-foot-3, 235-pound outside linebacker, coming from the opposite direction. The 6-foot-1...
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FASB Update 2018-12 and The Future of Life Insurance - A Conversation With Colin Devine

FASB Update 2018-12 and The Future of Life Insurance - A Conversation With Colin Devine
We're pleased to have Colin Devine, of C. Devine and Associates, join us today for a very timely and important Windsor blog about a topic that could have a significant impact upon the type and price of the products you'll be selling in the not too distant future. Colin, in August, 2018, the Financial Accounting Standards Board issued Accounting Update 2018-12 (ASU 2018-12), an update that affects all insurance entities that issue long-duration contracts – including life insurance and annuities. Earlier this year, C. Devine and Associates published an exhaustive industry peer review on the impl...
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Underwriting Enhancements & Case Design Tips to Help You Sell in the Foreign National Market

Underwriting Enhancements & Case Design Tips to Help You Sell in the Foreign National Market
"I haven't been everywhere, but it's on my list" - Susan Sontag High net worth individuals and families exist all over the world.  In today's global economy, you probably have clients with friends or relatives living abroad who are looking to buy life insurance from U.S. based companies. Whether for business planning, wealth transfer, legacy planning, wealth accumulation or family protection, many foreign nationals are motivated by having monies outside their country of residence.  They desire the stability of US dollar denominated coverage, asset diversification and protection again...
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Today There's a $22 Million Lifetime Gift Tax Exclusion - Your Clients Can Use It Or Lose It

Today There's a $22 Million Lifetime Gift Tax Exclusion - Your Clients Can Use It Or Lose It
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...
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The World of Indexed Universal Life in 2019: A Conversation with Bobby Samuelson and Marc Schwartz

The World of Indexed Universal Life in 2019: A Conversation with Bobby Samuelson and Marc Schwartz
  It's always great catching up with industry technical guru and thought leader, Bobby Samuelson.  Bobby's Life Product Review is the only source for independent, objective and technical life insurance product intelligence and an outstanding resource for all of us in this industry. We asked Bobby if he would like to join Windsor's Marc Schwartz in a conversation about the latest developments in Index Universal Life products, and Bobby graciously accepted. Marc Schwartz, Windsor Insurance : Bobby, we really appreciate you taking the time to educate us on what's happening in the w...
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A Harbinger of Things to Come in Other States?

A Harbinger of Things to Come in Other States?
  Algorithmic and Predictive (aka Accelerated) Underwriting Hits a Speed Bump in New York In January of this year, the New York Department of Financial Services (DFS) issued an Insurance Circular Letter on the Use of External Consumer Data and Information Sources in Underwriting for Life Insurance.   According to the DFS, the purpose of the Letter was "to advise insurers authorized to write life insurance in New York of their statutory obligations regarding the use of external data and information sources in underwriting for life insurance." While on the surface this seems like a rat...
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Policy Loan Rescue Strategies and Section 1035

Policy Loan Rescue Strategies and Section 1035
The popularity of Index Universal Life products has stirred up the creative talents of many professional financial advisors, and nowhere has that creativity been more apparent than in the area of policy loan rescues.  No question this is a significant opportunity to bring value to clients and generate a new sale, but it requires a high degree of expertise to navigate successfully.  This article will review rescue strategies so that you have a better idea of what works and what doesn't.  In addition, the Windsor case design team is fully conversant on the options and approaches t...
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At Last! A Tax Break for Both You and Your Client!

At Last!  A Tax Break for Both You and Your Client!
  New Section 199A Makes Pass-Through Deductions Available for Small Business Owners and Life Insurance Professionals The Internal Revenue Service (IRS) recently issued its final regulations describing the rules pertaining to section 199A. For those who are unfamiliar with 199A, the section provides for a new deduction of up to 20 percent of qualified domestic business income for pass through entities such as sole-proprietorships, partnerships, S-corporations, trusts, and estates. AALU provided this summary in its January 30, 2019 WR Newswire : "By way of background refresher on section 1...
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Fast and Furious - Year-End Sales Ideas in 60 Seconds or Less

Fast and Furious - Year-End Sales Ideas in 60 Seconds or Less
Ready for some quick sales ideas that you can take from start to finish before December 31?  Here are some of the best from Windsor and our carriers!   Year-End Tax Deductions!   American National ​ As we enter the last two months of the year we are at the very peak of the pension season. Now is the time to contact prospects who couldn't pull the trigger on planning earlier in the year. There is much greater urgency to establish a plan now than back in March when no deadlines were looming. Contact accountants and let them know that you can help them and their clie...
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What Are Underwriting Pros Talking About Today?

What Are Underwriting Pros Talking About Today?
Throughout my career I've had the good fortune to be associated with a number of individuals and organizations that move and shake the life insurance underwriting profession. They include many industry thought-leaders – among them are chief underwriters, actuaries, medical directors, reinsurance leaders, insurance lab and exam leaders, data providers and others. They represent a wealth of knowledge and insight about the state of the underwriting profession, always looking towards what's impacting the industry today and what they expect to impact the industry tomorrow.  So what's at the to...
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