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The fiscal cliff's been resolved, but that doesn't mean that most of the information coming out of it is completely clear or easily understood. This article is an overview of what can be expected in this and coming years with regards to estates.
It's 2013. Congress seems to have come to some kind of conclusion over the fiscal cliff, new elected officials are installed, massive changes are underway in the healthcare industry, and it's an opportunity for you to start fresh with old clients and reach out to new ones.
State of the Industry
It's clear: clients are confused, advisors are confused, and let's face it: our representatives in Washington are confused. Although there are numerous speculations on how the fiscal cliff might be solved, there's still uncertainty surrounding the impact on government, businesses, and the public. Once the drama plays out, there's never been a better time to step in and open conversations about financial planning and money management.
Reason #1: It's a New Year
There are a number of statistics affecting today's boomers, and it's likely you've heard at least a few of these:
By JAMES VLAHOS
Published: August 10, 2012
Although the very term “life insurance” seems to imply a lifelong commitment for the policyholder, life circumstances change, and with some of those changes, so too does the wisdom of carrying a life insurance policy. Sometimes surprisingly, this can be the case even when the policyholder has maintained the policy for several decades. When circumstances change, it is good to have options, and a life settlement is one option that is often overlooked.
For your customers in their 70s with maturing convertible term policies, the clock is ticking down and a life settlement solution might just be the best, last-second shot option available.