{"id":904,"date":"2019-01-10T14:12:56","date_gmt":"2019-01-10T14:12:56","guid":{"rendered":"http:\/\/www.himmelsteinfinancial.com\/?p=904"},"modified":"2019-01-24T14:41:45","modified_gmt":"2019-01-24T14:41:45","slug":"mulitple-policies-better","status":"publish","type":"post","link":"https:\/\/www.himmelsteinfinancial.com\/index.php\/mulitple-policies-better\/","title":{"rendered":"Multiple Policies Are Better!"},"content":{"rendered":"<p><a href=\"http:\/\/www.himmelsteinfinancial.com\/index.php\/mulitple-policies-better\/swiss-army-knife-icon\/\" rel=\"attachment wp-att-919\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-919 size-medium\" src=\"http:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/swiss-army-knife-icon-300x223.png\" alt=\"\" width=\"300\" height=\"223\" srcset=\"https:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/swiss-army-knife-icon-300x223.png 300w, https:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/swiss-army-knife-icon.png 958w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><strong><span style=\"color: #000080;\">MULTIPLE POLICIES ARE<\/span>\u00a0<span style=\"color: #ff0000;\"><u>BETTER!<\/u><\/span><\/strong><\/p>\n<p>We get requests from representatives and clients often with multiple goals that conflict with each other. You as the adviser realize it\u2019s a lot to ask for one contract to provide a Guaranteed Life Insurance Benefit, Chronic care, an income Stream, Multiple difficult beneficiaries or trusts, etc.<\/p>\n<p>One policy simply cannot satisfy nor accomplish all the clients goals. The Swiss army knife (IUL) doesn\u2019t work so well accomplishing all these things simultaneously.<br \/>\nHowever using multiple life insurance policies to create a customized solution may be an effective way to achieve your client\u2019s financial goals as long as you can illustrate them together in a\u00a0compliant illustration. These simultaneous goals can include:<\/p>\n<ul>\n<li>Leaving a guaranteed death benefit<\/li>\n<li>Having a Large Death benefit for a period of time (term insurance)<\/li>\n<li>Have a meaningful chronic care or long term care benefit<\/li>\n<li>Get tax free retirement income<\/li>\n<li>Have a paid up death benefit<\/li>\n<li>Having one policy paid up earlier than another to match cash flows in real life.<\/li>\n<\/ul>\n<p><strong>One policy doesn&#8217;t solve all the wants and desires all at the same time. But two can be much better than one.\u00a0<\/strong><\/p>\n<p>We have 2 examples of the flexibility in the system of illustrating.<\/p>\n<p>Below is one policy with protection IUL w\/ chronic care which pays 2% of face ($500,000) or 10% upon qualifying for the benefit.\u00a0We have a second contract paid up in 15-years that spits out substantial tax free income at age 65 to age 90 (25 years), keeping death benefit constant while holding onto the chronic care rider providing utmost flexibility.<\/p>\n<p><a href=\"http:\/\/www.himmelsteinfinancial.com\/index.php\/blog\/multiple-policies-better\/edited-table-illustration\/\" rel=\"attachment wp-att-897\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"wp-image-897 aligncenter\" src=\"http:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/Edited-Table-Illustration.png\" alt=\"\" width=\"595\" height=\"681\" srcset=\"https:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/Edited-Table-Illustration.png 723w, https:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/Edited-Table-Illustration-262x300.png 262w\" sizes=\"auto, (max-width: 595px) 100vw, 595px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.himmelsteinfinancial.com\/index.php\/mulitple-policies-better\/edited-table-illustration-2\/\" rel=\"attachment wp-att-905\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-905 aligncenter\" src=\"http:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/Edited-Table-Illustration-2.png\" alt=\"\" width=\"594\" height=\"478\" srcset=\"https:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/Edited-Table-Illustration-2.png 719w, https:\/\/www.himmelsteinfinancial.com\/wp-content\/uploads\/Edited-Table-Illustration-2-300x242.png 300w\" sizes=\"auto, (max-width: 594px) 100vw, 594px\" \/><\/a><\/p>\n<p>Notice the substantial tax free income while the &#8220;death benefit&#8221; stays relatively substantial and actually grows near the end of life. Both &#8220;surrender value IRR&#8221; and &#8220;death benefit IRR&#8221; remains high and is completely tax free. All at the same time, there&#8217;s a good death benefit and protection against needing extended care.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.himmelsteinfinancial.com\/index.php\/multiple-policies-are-better-cont\/\">Next example&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MULTIPLE POLICIES ARE\u00a0BETTER! We get requests from representatives and clients often with multiple goals that conflict with each other. You as the<\/p>\n<p class=\"link-more\"><a class=\"myButt \" href=\"https:\/\/www.himmelsteinfinancial.com\/index.php\/mulitple-policies-better\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-904","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/posts\/904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/comments?post=904"}],"version-history":[{"count":11,"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/posts\/904\/revisions"}],"predecessor-version":[{"id":933,"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/posts\/904\/revisions\/933"}],"wp:attachment":[{"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/media?parent=904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/categories?post=904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.himmelsteinfinancial.com\/index.php\/wp-json\/wp\/v2\/tags?post=904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}