AM Best Feature: Life Insurers Look for Big Things in Small Packages as They Target Middle Market in Online Sales

In Honor of National Women’s Month

Today I celebrate National Women’s Month by honoring two unsung heroes: my mother and my wife. My mother, now deceased, most notably raised five boys and was a caregiver for my father in their senior years. The role of caregiver is a huge responsibility and takes a great deal of emotional and physical perseverance. For most families, taking care of a parent, sibling, or spouse creates stress and a financial […]

Critical Illness Benefit & LTC Riders

Stand-alone long term care insurance carriers have left the market in droves due to poor forecasting of future costs and the high percentage of claims.   Life insurance companies have since picked up the void by offering hybrid life policies with Long Term Care and or Critical Illness Riders.   The few pure Long Term Care riders (like John Hancock) have a managed policy built into their life policy ensuring that protection is there […]

A Long-time Issue Needs a Long-term Solution

In May of 2020, nursing home residents and workers accounted for one-third of all coronavirus deaths. This sad new reality promptly reminded us of a few immutable truths, namely; that ‘a tomorrow’ is not guaranteed, and that the elderly are particularly subject to this fact of life. Sadly, the coronavirus is not the first or only crisis to descend upon the elderly population in the United States. Over the past […]

AG49A – A New Regulation Impacting IUL Illustrations

This regulation is designed to help the consumer by limiting any unrealistic or misleading illustrations. Of course, if you are working with well-educated and informed agents and agencies like Main Street Planning Group you will always find a conservative approach to purchasing this and all other life insurance products. For more information on AG49A email info@mainstreetplanninggroup.com  

US Life of NY – Power Index Premier NY

Say Goodbye to the New York State Partnership for Long-Term Care

November is Long-Term Care Awareness Month and it is with great sadness that Mass Mutual is leaving the stand-alone Long-Term Care space. Of particular significance is the abandonment of the New York State Partnership for Long Term Care. New York State Partnership for Long-Term Care What is the Partnership? The NYS Partnership for Long-Term Care (NYSPLTC) is a unique Department of Health program combining private long-term care insurance and Medicaid […]

Loan Rescue Strategies for Old Whole Life Policies

Whole Life insurance has long been regarded as a great vehicle for cash accumulation. Owners of these policies enjoy dividends and compounding interest that ascend in value as their cumulative premium payments add up. It’s even possible for these interest and dividend payouts to cover the cost of the policyholder’s premium payments over time. Add to the mix a tax-deferred status to boot, and you can see why Whole Life […]