A new Ohio law attempts to impose ‘best interest’ fiduciary standards onto life insurance and annuity providers. However, these standards are extremely vague and still leave from for abuse to consumers. Many annuity providers and so-called financial advisors plant their product as a solution to a variety of problems, when in reality another product is likely more useful. Below are 4 cautionary tales from clients that have come to us for help in the past. If any of these situations have happened to you or a loved one, or are currently happening, we encourage you to seek out additional financial tools and professionals.
Types of Life Insurance and How They Can Be Used in Estate Planning Many of us start thinking about life insurance when we get our first full-time job and the company’s HR representative asks us “Do you want to enroll in the employer’s group life insurance policy?”. Most people think “Why not?” and sign up,Continue reading “Types of Life Insurance and How They Can Be Used in Estate Planning”
Permanent life insurance policies offer both a death benefit and cash value, which you can withdraw from at almost any point in your life. Life insurance offers more flexibility, and ROI than many other savings options.
Life insurance is a great tool that you can use to compound your wealth. The problem is that many life insurance and annuity companies advertise insane promises that they can’t keep and aren’t transparent about their business practices. You need to research these companies before working with them.