Life insurance remains one of the cornerstones of financial planning. If you provide life insurance to planning to clients, or are looking to expand your business in this key area, this book is a must-have.
Written for a wide range of professional planners, such as insurance producers, financial planners, tax advisors, and estate planners, the expert authors of The Tools & Techniques of Life Insurance Planning apply the trusted Tools & Techniques approach to all aspects of life insurance planning, including:
- The primary reasons for using life insurance
- Illustrations of 1035 exchanges and the various tax rules that can result in unexpected tax liabilities
- Planning techniques for retirement income needs, estate and gift tax avoidance, estate liquidity needs, and long-term care planning
- Planning techniques for individuals and businesses, including key personnel policies and buy-sell agreements
- Plain-language descriptions of potential tax consequences and strategies that plans can use to minimize tax liabilities
- Detailed explanations of how life insurance funds are allocated between charges and investment accounts and how different investment options are calculated
New in the 8th Edition:
- Completely updated tax and accounting information that incorporates the 2017 Tax Cuts and Jobs Act
- Expanded coverage of 1035 exchanges, including new improved valuation techniques that can reduce the time required to complete an exchange
- In-depth planning techniques for pension maximization and buy-sell agreements
- Detailed discussion of annuity types and tax consequences, including QLACs
- In-depth analysis of life insurance riders
- Planning techniques for using life insurance in qualified and nonqualified plans
- New chapter on state best interest requirements for life insurance products, including New York's Section 187
Topics Covered:
- How to Estimate the Insurance Need
- How to Determine the Right Company and Policy
- Legal Aspects of Life Insurance
- Special Policy Provisions and Riders
- Disability Income Insurance
- Life Insurance Income Taxation and Planning Opportunities
- Life Insurance Valuation
- Estate Taxation of Life Insurance
- Buy-Sell Agreements
- Death Benefit Only (DBO) Plan
- Irrevocable Life Insurance Trusts
- Split-Dollar Life Insurance
- Current Trends in Life Insurance Planning
- And more! See the “Table of Contents” section for a full list of topics
As with all the resources in the highly acclaimed Leimberg Library, every area covered in this book is accompanied by the tools, techniques, practice tips, and examples you can use to help your clients successfully navigate the complex course of trust planning and confidently meet their needs.
