Errold F. Moody Jr

MANDATORY FOR ALL WHO WANT TO KNOW WHAT RISK REALLY MEANS FOR YOUR PERSONAL PORTFOLIO

       

FINANCIAL PLANNER

EXPERT WITNESS

INSTRUCTOR

AUTHOR           

  |Resume | Daily CommentaryContact Me | Site Search Home Page |  

Insurance/Annuities

Insurance, properly utilized, is nothing more than a pool of money to reimburse those that have a misfortune befall them. The others simply get the emotional protection for a loss that never occurs. In essence, therefore, you hope to never use it.

EFM

Click to Buy it now!

Sample Pages

No Nonsense Finance eBook

LIFE INSURANCE AND ANNUITY EXPERT FOR LITIGATION

Irrevocable Life Insurance Trusts and Trustee Fiduciary Duty

John Hancock ILIT Policy Analysis This is the real life analysis that is referenced above.

"I have asked Errold Moody to provide a brief example of what he has actually found on behalf of a client who engaged his services to review the insurance contracts which funded the client’s estate plan. You will be amazed. In my 30 years in the business, I have never seen an authoritative, objective, prudent expert speak so clearly on the use of insurance. What Errold can do is unique in the industry."

Steven Winks

* How much is too much to pay for life insurance? 

This page, as others, is continually growing and will probably contain more objective material on the pros and CONS of insurance then you may see anyplace else.

I have taught  most of the continuing education courses in California for insurance agents. And I have a Master of Science in Financial Planning and am one of about 33 individuals licensed in the state as a Life and Disability Insurance Analyst who is allowed to charge a fee for advice. And the only CFP who ever passed the exam. Of all the issues I have ever tackled, insurance is clearly the most difficult. That's primarily due to the fact that, unlike mutual funds and the services like Morningstar and Value Line, there is no independent company that rates the different policies (remember Best, S&P, etc. rate the financial condition, not the policies themselves.) So it has been a never ending process of continuing education to enlighten myself as to what is going on.

After considerable analysis, I believe that insurance should be bought as insurance, investments as investments. Blending them together can work, but you tend to lose benefits of both. That said however, cash value insurance for some business purposes can be  an acceptable element for  planning purposes. But you still have to look at the cheap (non investment) policies first.

The following commentary will, for the most part, refer to individual and family purposes. As with everything I write, never do anything based solely on the material. Laws may have changed, I may have made a mistake, or there are new perspectives on the issues. Make sure you

DO YOUR HOMEWORK!



"There are worse things in life than death. Have you ever spent an evening with an insurance salesman?”  
 Woody Allen

The list below includes all articles and specific links in alphabetical order with accompanying description. The listings in the column to the right are separate sections for articles and links

THE 2002 CONSUMER'S GUIDE TO CHEAP, GUARANTEED PERMANENT LIFE INSURANCE: Confused about the various types of whole, universal and variable life policies that are almost indecipherable? And where there are no guarantees? Insurance should be bought for insurance- any investment elements ratchet up the costs and restrict policy uses later on. And you are also at the mercy of lower interest rates and higher company expenses and mortality rates in the future- perhaps 40 to 50 years later. The  purchase of insurance should be to limit risk- not to increase it. So here is a straight forward article on the use of permanent insurance  that could solve many personal and business needs at a reduced cost that is also GUARANTEED to age 130.    

403(b) LINK All sorts of info on 403(b)'s including upcoming legislation

ACCELERATED DEATH BENEFIT LINK: There were 39.9 million individual policies or group certificates that included an accelerated death benefit (ADB) as of December 31, 1997, compared with 18.1 million in 1994.

ACTUARY LINK 1: Huge database and articles on life, health, mortality, morbidity and more.

ACTUARY  LINK 2: Includes many well researched articles from the American Academy of Actuaries on subjects such as social security, long term care, pensions, Medicare, etc.

AM BEST RATING LINK:  AM Best has been a leader in the independent ratings of insurance companies. There are others of course and they are also referenced in the material below- S&P, Moody's and Duffs and Phelps for example. I would first look to a Best rating and then add in one of the other resources to corroborate.

AMERICANS WITH DISABILITIES ACT LINK

ANNUITIES: This is a full text on annuities that cover tax deferral, ultimate taxation, fixed and variable policies, ratings, surrender charges, bailout options, fees, payout and lots more.

ANNUITY AND INSURANCE CREDITOR PROTECTION LINK: Extensive article on protection available on a state by state basis. Very comprehensive. Click "By Topic", then "Trusts and Estates and Wealth Preservation " and finally "Creditor Protection for Life Insurance and Annuities. Worth the hassle 

ANNUITY NEGATIVES: This definitive article addresses several negative issues with the use of annuities: dismal return during payouts- even lower for some races, lack of access to principal, insurance scams, etc. etc. It will radically alter the thinking of annuities as either safe investments or for use during retirement. THIS IS A MAJOR ARTICLE ON THE VALUE OF ANNUITY PAYOUTS. IF IT DOESN'T NECESSARILY RELATE TO YOUR AGE AND ACTIVITIES, IT MIGHT VERY WELL APPLY TO YOUR PARENTS OR GRANDPARENTS WHO WILL UNDOUBTEDLY BE OFFERED AN ANNUITY SOMETIME IN THE LIVES. READ IT!!

APPLICABLE FEDERAL RATES LINK: You must use an interest rate in the calculation of annuities, reversionary interests, life estates, etc.- but you can't use just anything. You are subject to the movement of rates in the economy and as stated by an AFR- Applicable Federal Rate for the month of use (slight variations.)

ADVISERS:  A critical article about the selection of a life insurance adviser. Almost all people do this wrong and select agents with little experience or education or those with literally no experience or education- worse yet, don't even have an interest in doing the analysis correctly.

AUTO INSURANCE LINK 1: This site at the Insurance Information Institute provides extensive info on a variety of insurance topics

AUTOMOBILE STATE MINIMUM LIABILITY LINK: Each state has different requirements when it comes to auto insurance. In some places, you can't register a car without showing proof of liability insurance. Other states use a kind of honor system that doesn't require proof from drivers until they have accidents or tickets on their records. Or run over your pet hampster- things like that.

BONUS INTEREST: Have you been offered a policy that pays extra interest up front? Any good? You may be surprised.

BUSINESS INSURANCE LINK:  Home business, business interruption, insuring the life of a key employee, professional liability insurance, commercial auto insurance policy and much more.

CALIFORNIA BROKER LINK: I have subscribed to this magazine for years. Every so often I include articles as indicated above. But they include lots of material on dental, vision and much more. Definitely worthwhile.

CALIFORNIA EARTHQUAKE INSURANCE LINK: The rates are region-specific and reflect coverage for homeowners (including mobile home owners), apartment or house tenants, and condo owners.

CHARTBOOK ON WORK AND DISABILITY LINK: U.S.  info 1998. Great statistics

CLAIMS LINK:  Lots of info including Blood-Alcohol Calculator, Betterment/Depreciation Calculator, Building Repair Cost Calculator, Coverage Analyzer/Business Torts, Coverage Analyzer/Personal Injury, Floor Area Calculator and more

COBRA: Simple chart showing Cobra coverages

COBRA LINK 1: If you are terminated from employment, you may continue health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985. Federal law does impose certain obligations on many employers to continue to provide health care coverage in the event of a change of employment or job status.

COBRA LINK 2: This provides basic info as well as addresses and telephone numbers of each state since "many states have adopted their own "mini-COBRA" laws that often grant broader rights in determining eligibility."

COMMERCIAL UMBRELLA LIABILITY POLICY LINK:  A pdf sample policy

CROSS PURCHASE BUY SELL AGREEMENT LINK:  Lincoln Benefit

CRUMMEY POWER: Applicable primarily to those using an irrevocable life insurance trust. Shows some of the basics of getting present value gifts to a trustee.

DEFERRED ANNUITY QUOTE LINK: This is a Berkshire Hathaway site but the reason I picked it was that it will actually show you the yield you will get on the annuity. You need this and a financial calculator to do the same thing with other annuities to see if you are getting a good deal.

DEFERRED COMPENSATION LINK

DEMUTUALIZATION LINK Demutualization is the process of converting a mutual insurance company to a stock company. Mutual insurers are abandoning their mutual status to go public or "demutualize". This requires approval from policyholders. Management and directors say reorganization is necessary to enable the company to grow, gain greater access to capital and to attract the best qualified employees.

DENTAL INSURANCE SURVEY LINK:  A professional survey from California Broker. This goes to their front page where you will find a direct link.

DISABILITY: Simple table to determine how much you need.

DISABILITY CLAIMS LINK:  A lengthy pdf professional article on claims procedures internationally.

DISABILITY INFORMATION AND PRODUCT LINK: Huge source or info on all sorts of disability issues- medicines, lifts, clothing, ramps and much much more. Highly recommended.

DISABILITY GLOSSARY LINK :  Another good effort by Insure.com. Believe me, disability insurance is tough 

DISABILITY INSURANCE: Concise article by William Brownlie

DISABILITY INSURANCE LINK: The basics of long term disability insurance

DISABILITY LINK 1 :   This site by the Health Insurance Association of America provides many consumer guides to long term care, health insurance, medicare, and has a very good article on disability insurance for the consumer.  

DISABILITY LINK 2: site from the government. The Web portal provides Americans with disabilities - and their families, employers and service providers - with one-stop access to information and programs that facilitate their day-to-day living.

DISABILITY INSURANCE CALCULATOR LINK: Met LIfe

DISABILITY PLANNING - ( MetLife) "more than half of full-time employees have not done any specific planning for their financial security and protection in the event of a disability." Sounds like a need waiting to be filled.

DISABILITY INSURANCE QUESTIONS LINK:  Basic questions answered by attorneys.

DISABILITY RESOURCES LINK:  The Family Village is a a global community that integrates information, resources, and communication opportunities on the Internet for persons with cognitive and other disabilities, for their families, and for those that provide them services and support. It includes informational resources on specific diagnoses, communication connections, adaptive products and technology,adaptive recreational activities, education, worship, health issues, disability-related media and literature, and much, much more!

DISABILITY STATISTICS LINK:   The Chartbook on Work and Disability 1998, is an exceptional reference on work and disability in the United States population, created for use by both nontechnical and technical audiences. The book is a resource for agencies, employers, organizations, policymakers, researchers and others concerned with the relationship between disability and work

DISABILITY STATISTICS LINK 2:  Good charts for small business owners.

DISABILITY STATISTICS and ARTICLES: What are the odds of becoming disabled, getting better, recent changes in policy coverage and lots more. As with most other commentary, this is continually updated.

DOL LINK:  Department of Labor state map for job placement and referrals, unemployment insurance, disability insurance, employment and training, labor market information, payroll taxes 

EARTHQUAKE INSURANCE: Commentary on what you should look for and how it works.

EARTHQUAKE INSURANCE LINK: The EQE International's HomeRisk website is where California homeowners can obtain an online earthquake risk assessment.  The assessments provide an EQE Seismic Risk Rating- low, average, high risk- for an individual structure and represents a measure of "earthquake fitness" for that building type at the shaking intensity expected on the soil mapped at that site, and at the specific distance of the site from the known active faults in the vicinity.

ENTITY PURCHASE BUY SELL AGREEMENT LINK

EQUITY INDEXED ANNUITIES: Commentary, charts, pictures of my cat

EIA INDEX CREDIT METHOD RATING SERVICE LINK   Great!!!!!!!

EQUITY INDEX ANNUITY LINK: These have limited applicability, but the site provides a lot of info on what is going on in the industry.

EXCHANGING LIFE INSURANCE POLICIES LINK:  These are the warnings  for switching variable policies. However, it is valid for most exchanges of insurance policies.

EXECUTIVE BONUS ARRANGEMENTS LINK

FEDERAL EMERGENCY MANAGEMENT AGENCY LINK: FEMA has some good material on disaster preparation, mitigation, up to date info on hurricanes and a lot more.

FINANCE, INSURANCE, and REAL ESTATE LINKS:  The finance department of Louisiana State University has provided an exceptional list of links to all sorts of investment areas. Good Stuff

FITCH INSURANCE RATINGS LINK: Similar to S&P, Moody's

FLOOD INSURANCE: Many people mistakenly think that a homeowner's policy covers for flood damage. WRONG! Lots of other comments including approximate policy premiums.

FLOOD INSURANCE LINK: Good overview on many aspects of flood insurance.

GUARANTEED LIFE INSURANCE California Broker

HEALTH INSURANCE GLOSSARY:  Very extensive

HEALTH PLAN BENEFITS LINK: Use this comprehensive guide to find your rights to specific coverages. Plus, see your rights regarding guaranteed-issue plans, pre-existing medical conditions, and external grievance review panels.

HOMEOWNER'S CLAIMS LINK:  Good consumer's info on Where To Begin, What To Look Out For, When To Settle and How To Protect Your Rights

HOMEOWNERS INSURANCE: Basic commentary on what to look for including the different HO policies.

HOMEOWNERS INSURANCE LINK 1: This site at the Insurance Information Institute provides the 15 questions that homeowners ask claims adjusters regarding the standard homeowners policy coverage. Starts with auto insurance and contains many other subjects as well.

HOMEOWNER'S INSURANCE LINK 2: A consumer's guide by the State of Wisconsin Office of the Commissioner of Insurance. Very extensive and worth the review.

HOMEOWNERS INSURANCE LINK 3:  from National Underwriter

HOMEOWNERS INSURANCE ENDORSEMENTS LINK: from National Underwriter

HOW MUCH LIFE INSURANCE: Almost all agents use pre programed computer programs to show you how much insurance you need. But I have actually found some software programs to be in error and others using completely erroneous economic factors. Further, few agents have ever been taught how to determine the numbers manually- and it probably wouldn't make that much difference anyway since they MUST be able to use a financial calculator (HP12C) to do the present value calculations. You should NEVER use an life insurance agent, stock broker, financial planner, attorney, etc. for any aspect of finances unless they have complete proficiency with a financial calculator. Now that I got that off my chest, take a look a how you actually determine the amount of insurance you may need.

IMMEDIATE ANNUITY QUOTE LINK - This is a Berkshire Hathaway site but the reason I picked it was that it will actually show you the yield you will get on the annuity. You need this and a financial calculator to do the same thing with other annuities to see if you are getting a good deal.

IMPAIRED ANNUITIES: I'm not wild about annuities for many reasons, but if you are not in the best of health and still want to use one, you should look at these. They use a shorter actuarial lifetime.

IMPAIRED RISK: If you have a past medical history, can you still get insurance? Yes and here are some comments.

IMPAIRED RISK INSURANCE LINK: You can get insurance almost regardless of your condition- though it costs a lot more (obviously). This commercial site gives some good information on what may be covered and how. Just one thing first- if you are an impaired risk, DO NOT go around to standard carriers hoping to get "lucky" with them They almost universally will decline the policy- and that raises a red flag to subsequent insurers. Or if you try and shop it with a bunch of rated insurers. There aren't that many reinsurers and they don't like getting jerked around with someone looking for the "best rates". They might simply decline. Pay attention here if you need insurance and have a medical condition such as diabetes, depression, high carbohydrate level, etc. Get an agent and company experienced in rated policies and use them exclusively. (See Impaired Risk above)

INDEX ANNUITIES: Life insurance/annuity companies try to find every way to make a sale. Fixed annuities are conservative but don't earn much. Pure variable annuities take a lot more risk. So the companies came up with an annuity that is coupled with the S&P 500 index. Any good? Probably not. Read this article and decide for yourself what you need to ask.

INTERNATIONAL CENTER FOR DISABILITY LINK

INSURANCE LINK: Lots of valid material from Insurance Advisor. Mostly for those in the business.

INSURANCE LINKS: An extensive collection of national and international links covering all types of insurance matters including securitization, health, property and casualty,  demutualization, etc.

INSURANCE ADJUSTER LINK: When you have a major property loss, you may need help in filing a claim. Independent public insurance adjusters work for you to "help you with preparation of inventories, estimates and other factual proofs of loss". Give this serious consideration.

INSURANCE ARTICLES AND COMMENTARY: Miscellaneous review of various insurance issues in the news.

INSURANCE COMPANY CLAIMS NUMBERS LINK: Another valuable resource from Insure.com and very beneficial when you or a loved one has a claim.

INSURANCE  COMPANY PHONE NUMBERS LINK:  Literally all the companies in the U.S. Huge list

INSURANCE CONTINUING EDUCATION LINK: This is a private site that sells continuing education courses for each state. But the reason it is a link is that you can put in any of the 50 states and find what the individual state continuing education requirements are. You may never use it, but the links at this site are for my benefit to readily refer back to issues I find important.

INSURANCE DIRECTORY LINK:  This is a large site that has a lot of paid company listings. But it also has links to organizations- like actuaries- where you can get to some very detailed studies.

INSURANCE  FIDUCIARY DUTY LINK:  By Glen Daily

INSURANCE FRAUD LINK:  An independent, nonprofit organization of consumers, government agencies, and insurers dedicated to combating all forms of insurance fraud through public information and advocacy.

INSURANCE GLOSSARY LINK 1: Good extensive definitions on many areas of insurance. Best I have seen so far

INSURANCE GLOSSARY LINK 2: Covers Annuity Terms, Auto Insurance, General Insurance, Health Insurance, Legal Terms, Liability, Life Insurance, Property Insurance and Workers Compensation

INSURANCE GLOSSARY LINK 3: From Tony Steuer

INSURANCE GLOSSARY LINK 4:   Definitions for (gasp!) insurance

INSURANCE GLOSSARY LINK 5: Very extensive

INSURANCE GLOSSARIES LINK 6:  Many glossaries

INSURANCE GLOSSARY LINK 7:  From the Berkshire Company

INSURANCE GLOSSARY LINK by Barry Flagg

INSURANCE GRIPE LINK: They gather complaint information from you based upon your responses to our questions, and then prepare a "free" letter which you review. If the letter is acceptable to you, you can mail it to the insurance department within your state.

INSURANCE IN A TRUST:  Trust owned life insurance will create a significant fiduciary exposure and liability for the unknowledgeable trustee. How are they doing so far?

INSURANCE LAW LINK: Federal statutes regarding crop and flood damage, new insurance cases, state statutes and much more.

INSURANCE MEDICINE LINK:   From MIB Inc and includes issues on aging, health and more. Highly recommended.

INSURANCE NEWS NETWORK LINK:  Good general comments, links to other sites including those offering quotes on the Internet. But be careful of marketing claims by any company no matter where you hear about them- the Internet, newspaper ads, mail, agents, your mama. Even with no load products or those without commissions, most people still end up buying insurance that cost far too much compared to what they should have bought. Let's be careful out there.

INSURANCE OVERVIEW LINK: Concise article covering many elements of insurance- insurable interest, claims, bad faith, homeowners and renters insurance. Looks like a good primer.

INSURANCE POLICY LINK:  An In-Depth Analysis of One Participating Whole Life Insurance Policy by Rich Franzen. Interesting. Take a look

INSURANCE PREMIUM QUOTE LINK:  While this is just a California Department of Insurance site, it is great. Put in the data for long term care, auto, homeowners, title, Medicare and Workers Comp and get quotes from the major companies. You still have to contact them directly for personalized numbers, but it may be a great time saver overall- even for people not in CA.

INSURANCE PROBLEMS LINK: State by state issues consumers should be aware of.

INSURANCE RATINGS LINK1: Direct link to ratings by S&P and Duff and Phelps on the largest insurers in the U.S. But do not be misled. Simply because it is big is no guarantee of good policies or competent agents. Look at what has happened to Prudential, Metropolitan, New York Life. You need to do a lot more homework than just check ratings, but this is a start.  

INSURANCE RATINGS LINK 2:  This is the site for Moody's insurance ratings. The ratings are provided under different requirements than S&P and Duff and Phelps.

INSURANCE REGULATORS MAP LINK: Just click on your individual state to get the info you need.

INSURANCE SUITS AND SETTLEMENTS LINK:

INTERNATIONAL INSURANCE LINK: Facts on literally every country; rankings, profiles, etc. Very extensive

KEY PERSON LIFE INSURANCE LINK/

LIFE EXPECTANCY: If you are 45, how long do you have to live? How about age 65 or 75 or even 85. You must know these numbers in order to do estate, insurance/annuities or retirement planning.

LIFE EXPECTANCY LINK The above site requires printing out a form and does not provide an on line answer- though it is very descriptive. This site is not as definitive but allows you to plug in answers and get a result. You should try it.

LIFE INSURANCE ADVISER LINK: A fee site that provides insurance analysis

LIFE INSURANCE CALCULATOR LINK 1

LIFE INSURANCE CALCULATOR 2  Met Life- Covers some items I don't necessarily agree with, but it's free. And no one will call.

LIFE EXPECTANCY CALCULATOR LINK

LIFE INSURANCE DUE DILIGENCE LINK: By JJ McNab

LIFE INSURANCE ESTIMATOR LINK : I don't like the simplistic 5 or 7 times income since they don't reflect the individual needs. This estimator is not prefect but is better than most.

LIFE INSURANCE GLOSSARY LINK: From the Insurance Adviser.

LIFE INSURANCE POLICY LOCATOR LINK: : An invaluable service. The Medical Insurance Board has a Policy Locator that can maximize your opportunity to discover life insurance benefits you may not have realized existed.

The decedent's name is searched against a Policy Locator database of over 110 million records representing inquiries submitted on individually underwritten life insurance applications processed during the last nine years.

LIFE INSURANCE WORKSHEET LINK:  From Weiss- Not perfect since it does not incorporate PV. But it's better than most

LIFE SETTLEMENTS

LITIGATION:  This report took over a year and addresses an egregious wrong by a highly marketed CFP.

MANAGED CARE QUESTIONNAIRE: Kate Kincaid is the Editor in Chief for California Broker magazine. Beyond that, and most importantly, is the fact that she is an excellent and knowledgeable writer on complicated issues.  This questionnaire is must reading.

MEDICAL EXAM LINK:  Why life insurance companies request one and what goes on in the underwriting stages.

MEDICAL INFORMATION BUREAU: Want to know why an insurance company may find out your fibs on a policy submission? Because prior illnesses end up on the MIB computer.

MEDICAL INSURANCE BOARD LINK:  The MIB's traditional role within the insurance industry is  to operate a confidential interchange of information that is significant to health or longevity as an alert to detect and deter fraud.

MEDICAL SAVINGS ACCOUNT LINK: An extensive review with questions and answers about the viability of MSA accounts. Essentially, you buy a LOW premium HIGH deductible health policy PRE tax. If you don't use the premiums that year, they can grow for retirement.

MEDICARE HMO LINK: This site can help answer questions about managed care, selection of a Medicare HMO along with individual state regulations and more. I would certainly recommend this to anyone retiring who has questions about whether to join and HMO or to take Medicare and use a Medigap policy.

MEDICARE SUPPLEMENTAL QUOTE LINK: The site allows you to get quotes in any state on any type plan. You still have to do some more homework but it is an excellent place to start.

MEDIGAP PLANS: Only 10 (essentially) are allowed to be sold throughout the U.S. This article will help explain some differences and give additional insight to some problems.

MEC- MODIFIED ENDOWMENT CONTRACTS VERSUS ANNUITIES: Real life example where an annuity is a very bad purchase.

MOLD LINK: One of the more important issues about which the insurance industry is concerned involves toxic mold and how it relates to both personal and commercial lines insurance policies. Some analysts are making the analogy that mold could be the next asbestos.

MONTE CARLO AND VARIABLE LIFE LINK

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS LINK:  This organization provides a critical and objective overview to the insurance industry and is responsible for many changes in laws, financial reporting. Not a link for many consumer issues, it still is an excellent resource for what is going on in the industry.

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS ON LINE FRAUD REPORTING LINK:. Recent allegations concerning inappropriate insurance broker activity, has created an increased awareness for state insurance departments to enhance their collection of information from consumers, insurance producers and employees of insurers concerning alleged violations of insurance laws and regulations. From this page, you can report suspected fraud.

NEW AND PROPOSED REGULATIONS:The industry has been under intense scrutiny and many states and organizations have suggested or are currently implementing changes. You'll see a lot more of this coupled with more agents leaving the business.

PENSION MAXIMIZATION: This has been pushed to corporate retirees to take a single life annuity and buy insurance to offset what would have been paid on a joint life annuity. Form allows you to figure it out. But I'd still be very careful and ask a lot of questions. Caution advised since spouse could lose other benefits. Don't do this (or most anything else I may comment upon) without getting second opinion.

PREFERRED OR STANDARD: Many insurance policies are submitted quoting you as a preferred rating (usually the best of health providing the lowest rates). Then, after review, the contract comes back with a standard (lower) rating and much higher premiums. Look at this to see how your health might stack up to an underwriter and help you avoid surprises. Recognize, however, that each company has its own unique underwriting standards.

PREMIUM FINANCING: Michael Gallop

PROPERTY INSURANCE: Code upgrades, use of Public Adjuster, more

PROPERTY AND CASUALTY GLOSSARY LINK: An extensive and comprehensive explanation from alienated premises exclusion to valet parking services

PROPERTY/CASUALTY INFORMATION LINK: This goes to the Insurance Services Office (ISO) which provides some excellent statistical data on the risks of property and casualty losses. It also provides links to just about all the other major insurance sites so I suggest you take a look if you are reviewing your risks and thinking of buying a policy.

PUBLIC ADJUSTER LINK: When you need help with a property insurance claim, an independent adjuster may provide the help you need.

RENTERS INSURANCE LINK: Basic info from the Ohio Insurance Department

RISK MANAGEMENT/INSURANCE SEARCH LINK

SALARY CONTINUATION PLAN LINK:

SECOND TO DIE INSURANCE: This has been pushed a lot EVERYWHERE as the way to pay estate taxes. I don't necessarily agree since it tends to represent bad estate planning. So look at these examples and judge for yourself.

SMALL BUSINESS INSURANCE LINK: A site for selecting the right insurance for a small business.

SPLIT DOLLAR LINK

SPLIT AND REVERSE SPLIT DOLLAR INSURANCE: Used a lot for business purposes. General comments

STATE GUARANTY LAWS LINK:  Also see http://www.fsdfinancial.com/State%20Guarantee%20Associations.htm (My software does not like the code.)

STATE HEALTH BENEFITS LINK:  Identifies specific coverages and rights regarding guaranteed-issue plans, pre-existing medical conditions, and external grievance review panels. More

STATE HEALTH INSURANCE ASSISTANCE PROGRAMS LINK:

STATE INSURANCE LINK: Direct link to all sorts of statistical insurance info on any state. You will also be able to get to any state's own WEB page

STATE INSURANCE INTEREST LAWS LINK:

STATE INSURANCE REGULATORS LINK:

STATE WORKERS COMP LINK: Simply by clicking your individual state, you can get state specific info. Was looking into this most recently- hence the link. Saves a lot of time in research by using this.

SUPPLEMENTAL RETIREMENT INCOME LINK

SURVIVOR OPTIONS: Payouts options for survivors and, from my standpoint, normally not advisable. But look for yourself.

TSA MAXIMUM EXCLUSION ALLOWANCE LINK: Teachers and other non profit organizations under Section 403(b) and 501(c)3 are allowed to use pretax money and invest in tax sheltered annuities (fixed or variable). There is a special formula to determine how much they can put away. Unfortunately all the annuity companies seemed to come up with different numbers. Anyway, this is an online computerized form that "might" be correct.

TAX TREATMENT OF INSURANCE and PREMIUMS: Short  table showing when premiums may be deductible. And what happens when you die and the insurance is paid to others. YOU'LL BE SURPRISED!

TERM INSURANCE SURVEY LINK A professional survey from California Broker. This goes to their front page where you will find a direct link.

TRUST OWNED LIFE INSURANCE LINK: Fiduciary pitfalls- good article. between 70% and 95% of ILIT policies have no servicing agent, 83.5% of professional ILIT trustees have no guidelines or procedures for handling trust policies, and 71% of nonprofessional trustees have not even reviewed their policies within the last five years.

TRUST OWNED LIFE INSURANCE, IS IT AN ACCIDENT WAITING TO HAPPEN:  Great article by Mark Teitelbaum on the breach of fiduciary duty in the review of life insurance.

UNDERWRITER LINK: Commentary and articles on the underwriting of certain risks including breast cancer, depression, Parkinson's, colon cancer, etc.

UNDERWRITING LINK: Extensive database of professional articles on many insurance subjects.

UNIFIED RATES FOR ESTATE AND GIFT TAX: Generally, if you leave more than $1,000,000 when you die, anything above that starts getting taxed at 41%. This clearly makes the case for proper estate planning

VARIABLE ANNUITY ABUSES LINK: prepared for the North American Securities Administrators Association by JJ McNab

VARIABLE ANNUITY LINK: The SEC's description and commentary. Needs more but it is an acceptable start.

VARIABLE ANNUITIES VERSUS VARIABLE LIFE VERSUS MUTUAL FUND INDEXING: Do you understand how each of these will work considering basis, taxation, risk, fees? Bet you don't and here are some examples to put them into perspective. Shows why some variable policies might not work. Actually, now that the lower capital gains tax has been implemented, very few people should buy variable life. And ask yourself this if you do buy one. Will your beneficiaries ever see the full amount of the insurance upon your death. NOPE! If you don't understand why, you got a LOT of homework to do.

VIATICAL COMMENTARY: . Here is a AAUL Bulletin by four attorneys that might put the sophistication, taxation, fraudulent offerings, etc. into a more intensive perspective. Don't buy these by yourself- or certainly let your father/mother/grandparents get involved without outside scrutiny.  Also includes some updated statistics.

VIATICAL GLOSSARY LINK:

VIATICAL INFORMATION LINK:  A non profit organization provides insight.

VIATICAL QUESTION LINK: The Consumer Reports commentary

VIATICAL SETTLEMENT LINK : This site by viatical author Gloria Wolk provides some good insight to the various settlements along with the risks and warnings for people that do not do their homework. This is an involved area during the end of life that requires careful review before utilization.

VIATICAL STATE REGULATION LINK:  Viatical sales of life insurance policies for the terminally ill (and otherwise in certain cases) has led to tremendous abuses. Here is a list showing whether or not a state is regulating such sales. Many don't and you are therefore put at extensive risk. Even for those states that supposedly have rules, I'd still suggest hiring outside help to analyze.  

WORKERS COMP LINK 1:   Good general description of workers comp from Insure.com

WORKERS COMPENSATION LINK 2: Includes a listing on all 50 states with statutes, forms, procedures and more.

Consumer links

INSURANCE BOOKS


ARTICLES

$667,000

THE 2003 CONSUMER'S GUIDE TO CHEAP, GUARANTEED PERMANENT LIFE INSURANCE

403(b)

ADVISERS

ANNUITIES

ANNUITY NEGATIVES

BONUS INTEREST

COBRA

CRUMMEY POWER

DISABILITY

DISABILITY INSURANCE

DISABILITY STATISTICS and ARTICLES

EARTHQUAKE INSURANCE

EQUITY INDEXED ANNUITIES (EIA)

FLOOD INSURANCE

HOMEOWNERS INSURANCE

HOW MUCH LIFE INSURANCE

IMPAIRED ANNUITIES

IMPAIRED RISK

INDEX ANNUITIES

INSURANCE/ANNUITY ARTICLES AND COMMENTARY

INSURANCE IN A TRUST

LIFE SETTLEMENTS

LIFE EXPECTANCY

LITIGATION

MANAGED CARE QUESTIONNAIRE

MEDICAL INFORMATION BUREAU

MEDIGAP PLANS

MEC- MODIFIED ENDOWMENT CONTRACTS VERSUS ANNUITIES

NEW AND PROPOSED REGULATIONS

PENSION MAXIMIZATION

PREFERRED OR STANDARD

PROPERTY INSURANCE

SECOND TO DIE INSURANCE

SPLIT AND REVERSE SPLIT DOLLAR INSURANCE

SURVIVOR OPTIONS

TAX TREATMENT OF INSURANCE and PREMIUMS

TRUST OWNED LIFE INSURANCE

UNIFIED RATES FOR ESTATE AND GIFT TAX

VARIABLE ANNUITIES VERSUS VARIABLE LIFE VERSUS MUTUAL FUND INDEXING

VIATICAL COMMENTARY

LINKS

ACCELERATED DEATH BENEFIT

AMERICANS WITH DISABILITIES ACT

AUTO INSURANCE

ACTUARY 1

ACTUARY 2 

ANNUITY AND INSURANCE CREDITOR PROTECTION

AM BEST RATING

APPLICABLE FEDERAL RATES

AUTOMOBILE STATE MINIMUM LIABILITY

BUSINESS INSURANCE

CALIFORNIA BROKER

CALIFORNIA EARTHQUAKE INSURANCE

CHARTBOOK ON WORK AND DISABILITY

CLAIMS

COBRA 1

COBRA 2

COMMERCIAL UMBRELLA LIABILITY POLICY

CROSS PURCHASE BUY SELL AGREEMENT

DEFERRED ANNUITY QUOTE

DEFERRED COMPENSATION

DEMUTUALIZATION

DENTAL INSURANCE SURVEY

DISABILITY CLAIMS

DISABILITY GLOSSARY

DISABILITY

DISABILITY 2

DISABILITY INFORMATION AND PRODUCT

DISABILITY INSURANCE

DISABILITY INSURANCE CALCULATOR

DISABILITY INSURANCE QUESTIONS

DISABILITY RESOURCES

DISABILITY STATISTICS

DISABILITY STATISTICS 2

DOL

EARTHQUAKE INSURANCE

EQUITY INDEX ANNUITY

EIA INDEX CREDIT METHOD RATING SERVICE

ENTITY PURCHASE BUY SELL AGREEMENT

EXECUTIVE BONUS ARRANGEMENTS

EXCHANGING LIFE INSURANCE POLICIES

FEDERAL EMERGENCY MANAGEMENT AGENCY LINK

FINANCE, INSURANCE, and REAL ESTATE

FITCH INSURANCE RATINGS

FLOOD INSURANCE

GUARANTEED LIFE INSURANCE

HEALTH INSURANCE GLOSSARY

HEALTH PLAN BENEFITS

HOMEOWNER'S CLAIMS

HOMEOWNERS INSURANCE 1

HOMEOWNER'S INSURANCE 2

HOMEOWNERS INSURANCE 3

HOMEOWNERS INSURANCE ENDORSEMENTS

IMMEDIATE ANNUITY QUOTE

IMPAIRED RISK INSURANCE

EQUITY INDEXED ANNUITY

INTERNATIONAL CENTER FOR DISABILITY

INSURANCE 1

INSURANCE 2

INSURANCE ADJUSTER

INSURANCE COMPANY CLAIMS NUMBERS

INSURANCE  COMPANY PHONE NUMBERS

INSURANCE CONTINUING EDUCATION

INSURANCE DIRECTORY

INSURANCE  FIDUCIARY DUTY

INSURANCE FRAUD

INSURANCE GLOSSARY 1

INSURANCE GLOSSARY 2

INSURANCE GLOSSARY 3

INSURANCE GLOSSARY 4

INSURANCE GLOSSARY 5

INSURANCE GLOSSARY 6  

INSURANCE GLOSSARY 7

INSURANCE GLOSSARY 8

INSURANCE GRIPE

INSURANCE LAW

INSURANCE MEDICINE

INSURANCE NEWS NETWORK LINK

INSURANCE OVERVIEW

INSURANCE POLICY

INSURANCE PREMIUM QUOTE

INSURANCE PROBLEMS

INSURANCE RATINGS 1

INSURANCE RATINGS 2

INSURANCE REGULATORS MAP

INSURANCE SUITS AND SETTLEMENTS

INTERNATIONAL INSURANCE

KEY PERSON LIFE INSURANCE

LIFE EXPECTANCY

LIFE INSURANCE ADVISER

LIFE INSURANCE CALCULATOR 1

LIFE INSURANCE CALCULATOR

LIFE EXPECTANCY CALCULATOR 2

LIFE INSURANCE DUE DILIGENCE

LIFE INSURANCE ESTIMATOR

LIFE INSURANCE GLOSSARY

LIFE INSURANCE POLICY LOCATOR

LIFE INSURANCE WORKSHEET

MEDICAL EXAM

MEDICAL INSURANCE BOARD

MEDICAL SAVINGS ACCOUNT

MEDICARE HMO

MEDICARE SUPPLEMENTAL QUOTE

MOLD

MONTE CARLO AND VARIABLE LIFE

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS FRAUD REPORTING

PREMIUM FINANCING:

PROPERTY AND CASUALTY GLOSSARY

PROPERTY/CASUALTY INFORMATION

PUBLIC ADJUSTER

RENTERS INSURANCE

RISK MANAGEMENT INSURANCE SEARCH

SALARY CONTINUATION PLAN

SMALL BUSINESS INSURANCE

SPLIT DOLLAR

STATE GUARANTY LAWS

STATE HEALTH BENEFITS

STATE HEALTH INSURANCE ASSISTANCE PROGRAMS

STATE INSURANCE

STATE INSURANCE INTEREST LAWS

STATE INSURANCE REGULATORS

STATE WORKERS COMP

SUPPLEMENTAL RETIREMENT INCOME

TERM INSURANCE SURVEY

TRUST OWNED LIFE INSURANCE

TSA MAXIMUM EXCLUSION ALLOWANCE

UNDERWRITER

UNDERWRITING

VARIABLE ANNUITY

VARIABLE ANNUITY ABUSES

VIATICAL GLOSSARY

VIATICAL INFORMATION

VIATICAL QUESTION

VIATICAL SETTLEMENT

VIATICAL STATE REGULATION

WORKERS COMP 1

WORKERS COMPENSATION 2:

     Legal Criteria © Copyright 1998- 2006 All rights reserved.  Disclaimer