Printer Friendly Articles
|From time to time, I begin a professional conversation with an individual who tells me he/she is “insurance poor.” Sometimes this is just a put off, and other times it accurately describes the genuine sentiments of someone who has purchased a number of insurance contracts, including life, homeowners, liability, car, and health insurance without a clear understanding of the benefits/need/value of the products. They have simply been sold a product which may or may not be the best choice for their circumstances.|
My professional practice is limited to life, long term care, disability insurance, and annuities. But included is a complimentary analysis of the overall financial portfolio (including investments, IRA’s, 401(k)’s and retirement and estate planning to help my clients determine when and if to work with other professionals. My credentials as a Chartered Life Underwriter (CLU) and experience heading the Risk Management and Insurance Department of BellSouth Corporation uniquely position me to counsel my clients on the broad spectrum of insurance products AT NO CHARGE. This is just one of the benefits of working with a CLU. Give me a call for a no obligation consultation about your own personal program.
|www.parentswish.com is probably the most touching website I have ever visited. Sent to me by a close friend who, like me, sells long term care insurance, it has opened the eyes of many people who viewed it. With an 88 year old mother who finds it more and more difficult to handle day to day activities that many of us take for granted, I want as many people as possible to better understand our senior generation and be prepared for the day when we will also be dependent on others. As a matter of fact, make a point to stop by today and have a quick visit with an elderly person you know. Your short visit just might make their day! :-) :-) :-)|
|Senior Housing Update - Part 1||10/2/2007|
|Several weeks ago, my visitors were given an update via my website on activities to bring affordable, quality senior housing/assisted living to Cherokee County. Scroll down from this home page to January 16, 2007 to read the earlier update. Much continues to happen in our area, and the original members of Appalachian Mountain Manor are proud to have raised the awareness level here in Cherokee County. While our group cannot claim credit, Hayesville House has opened just a few miles east of our planned site in Peachtree. Agemark, a North Carolina company, continues to open facilities in our Tarheel State. People who are interested in assisted living just over the Clay County line should call at 828-389-8700 for information.|
Studies continue to support the need in Cherokee County, and nine visionary Cherokee County citizens each contributed $1,000 for original funding on the project. My own family offered a contract for $90,000 to purchase four acres of land immediately southwest of Murphy Medical Center's PARC in hopes MMC could join in the project, but we were told that it was not feasible for MMC to participate at that time. The second initiative involved an individual committed to senior housing who wanted to purchase about ten acres immediately between MMC and PARC, but the $125,000/acre the owners wanted for the land made the deal totally unworkable. To my knowledge, that land is still unused and several think it is an ideal site, but the owners recently informed me that the land was not available for sale.
Stay tuned to www.rickbagleyclu.biz to learn more details about what is going on in the attempt to bring affordable, quality senior housing to our Cherokee County people who need care.
Thanks for visiting!!!!!!
|Mistake on your 401(k) / IRA Rollover?||8/22/2007|
|We should have expected that with all the early retirements, corporate takeovers, downsizing and corporate mergers that many employees would make mistakes at best or be duped at worst. Some of the salespeople and/or financial advisors who counseled these people simply did not have the experience and knowledge to advise many of the trusting investors who were not told about all the implications of their buyouts or retirement alternatives. |
Compounding the mistake, many have lost touch with the advisors who took their money without making a long term commitment to support them. Others signed up for plans that allowed them access to their rollover money without considering the implications of taking early withdrawals. Just because they were penalty free from the IRS does not mean it was the best move for the employee. If you want some straight advice on a potential bad move you made or one you have been advised to make, give me a call.
|If you did not notice it, pick yourself up a June 13 edition of the Cherokee Scout and turn to page 16A to read Jerry Chautin's "Bizology Now" column about key man life insurance. Jerry did a great job in a limited space of outlining one of many critical life insurance products. Overlooked by many business owners and key managers, this type of insurance funds the continuity of many businesses which would fall by the wayside if proper provisions are not made.|
Jerry cites a personal example in his own family about how the foresight of his brother-in-law minimized the financial loss upon his untimely death. His key man life insurance facilitated the continuation of a second-generation CPA practice without the requirement to bring his widow into the practice as a part owner of the practice.
The Scout's SBA 2006 Small Business Journalist of the year also points out the importance of the underlying buy-sell agreement which should be prepared and executed at the same time the life insurance policies are purchased. Businesses frequently create problems for themselves and their families when they purchase the insurance without following through on the buy-sell agreements.
If you or a business associate have a business ownership situation which is not properly structured with respect to its continuity, I invite you to give me a call for a complimentary consulation which can make a world of difference.