COMPANY UPDATE SUMMARY 8-20-2015

Original carrier announcements that are highlighted below are available upon request. Contact Russ Towers russ@bsmg.net   Genworth   Effective August 17, 2015, Genworth has increased the Total Living Coverage (TLC) credited interest rate from 3.60% to 3.85% on new policies. With this update, TLC will have an average advantage of 30% higher leverage on both […]

Life Insurance Ownership Changes & the “Transfer for Value Rule” of IRC Section 101

Life insurance policies sometimes have a need to be transferred from the original policy owner to a new policy owner. When a transfer of ownership takes place (absolute assignment or change of ownership form), financial professionals should be concerned about the so-called Transfer for Value Rule (TFV) and qualifying for one of the TFV exceptions. […]