Financial Planning
| Minimize investment risks, reduce costs and save money |
| Published Wednesday, November 5, 2008 |
by Jeff Bolton
Pay less for life insurance
As reported in Consumer Reports in July, life insurance premiums have dropped so dramatically in the past few years that it is possible that you will be able to replace an older policy with a new policy at a lower price. The savings potential increases on a pro rata basis but is beneficial for individuals at all economic levels. According to Accuquote.com, a $500,000, 20-year guaranteed term policy purchased ten years ago from a highly-rated carrier would have cost a healthy, 50-year-old, non-smoking man about $2,125 per year. In today's market, the same gentleman (now age 60) would save $7,400 over the next ten years for the same coverage with the same provider. Individuals with much larger policies may benefit from significantly higher savings (for example, you may be able to save as much as $2,000 per year on a $2 million policy) simply by updating your policy.
Additional cost savings may be generated by adopting a healthier lifestyle. If your health has improved since you purchased your last policy, your savings will increase accordingly. If your cholesterol was high when you purchased your original policy, you may be able to save $50 (based on a $1 million policy) per month if you reduce your cholesterol level by 30 points. Or $65 per month if you lose 50 pounds to get within normal weight limits. Or $165 per month three years after you quit smoking.
Through our relationship with Benchmark Financial Group, our financial planning partners, we are able to offer the same term life insurance companies that are available on the internet, from your auto/homeowner insurance agent, your cousin, or your broker. The cost is usually the same no matter who you purchase the product from, unlike buying a car - prices cannot be haggled. By using Benchmark Financial, you have the advantage of having an advisor that represents ALL the term insurance companies, not just preferred carriers. They have over 35 years of combined experience helping clients coordinate their insurance needs with their estate planning objectives and providing low-cost term life insurance.
|
The average savings potential for updated life insurance policies is projected at $1,320 per year. Find out how much you can save. Call or email us today to arrange a free consultation. You will either find out that you can lower your costs (money in your pocket), or discover that everything you currently have is properly structured and does not need to be changed. |
Minimize investment costs
Make your investments work for you by reducing the related fees and taxes. There are often commissions or investment advisory fees attached to the service, in addition to potential estate tax and varying income tax impact. You can negotiate advisory fees while maximizing the integration of the tax aspects of investing between your investment advisor and your tax accountant.
Understand and manage your risk
Benchmark Financial Group has the skill set to help you analyze your investment portfolio to determine the internal and external expenses that you are being charged. In time like these, when many individuals have lost 10 to 20 percent on their portfolios, it pays to have an experienced professional look under the hood of your financial plan. Unlike many investment advisors, Benchmark has the knowledge and experience in the area of risk management to help you decide if insurance products should be considered as a complement or alternative to a traditional investment portfolio.
Get a complimentary review at no cost
We believe that it is a prudent financial strategy, especially now, to really understand what you have, why you have it, and what your actual costs are. Benchmark Financial does not charge a commission or a fee to perform this analysis for any Daszkal Bolton client or friend of the firm. It is up to you to decide whether or not to hire them after your initial complimentary meeting - you are absolutely under no obligation.
We believe strongly in offering our clients and friends a second set of eyes to review and confirm your financial dreams and we have the resources to make this happen at no cost, just a few minutes of your time.
|
Reduce your investment and money management costs while simultaneously managing your risk.
Find out how much you can save. Call or email us today to arrange a free consultation. A trusted advisor will meet with you to review existing insurance, investment strategies and help develop financial strategies to meet your short and long-term financial needs. You will either find out that you can lower your costs (money in your pocket), or discover that everything you currently have is properly structured and does not need to be changed. |
Jeffrey A. Bolton, CPA is a co-founder, Partner, and member of the firm's Executive Committee. He works closely with our Entrepreneurial Services and Strategic Business Solutions groups. As an experienced CPA, Jeff provides expertise in entrepreneurship, tax and accounting. His practice primarily services family-owned, emerging and high-growth companies. Jeff's focus is helping business owners achieve success through the implementation of profit enhancement, expense reduction, asset protection and business process solutions. Contact Jeff directly via email at jbolton@daszkalbolton.com or by phone at 561.886.5292.
Send this page to a friend
(C) Copyright Daszkal Bolton LLP (2008). All Rights Reserved.
CIRCULAR 230 DISCLOSURE
To ensure compliance with requirements imposed by the United States Treasury Department, you are hereby informed that any advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. This advice may not be forwarded without our express written consent. For more information about the Circular 230 disclosure, please click here.
