SPG Acquires the Assets of Broker’s Service Marketing Group

Leading BGA in the Life and Annuity Market Summit, New Jersey – January 5 , 2022 – Specialty Program Group LLC (SPG), a leading operator of specialty insurance brokerage firms and underwriting facilities, announced today the acquisition of the assets of Brokers’ Service Marketing Group II, LLC (BSMG). BSMG is a leading life and annuity […]

Build Back Better Act (BBB) UPDATE!

If you missed our Nov. 12th update, you can read it here. These are the latest updates as of today: CORPORATE TAXES A 15% minimum tax on corporate book income. This would only apply to corporations with that report at least 1 BILLION in book income to shareholders. Clearly , companies that could fit this […]

BSMG Tax Updates 2021

The taxation parts of the HR 5376 (President Biden’s “Build Back Better Act”) have changed dramatically over the last couple of months.  This is a result of the back and forth negotiations between the “moderate Democrats” and the “progressive Democrats”.   The latest Legislative Text of the House bill targets extremely profitable corporations and extremely […]

EOLI Notice & Consent Rules Require Careful Planning to Assure Tax Free Death Benefit

IRC Section 101(j) was enacted as part of the Pension Protection Act of 2006. For Employer-Owned Life Insurance (EOLI) issued after August 17, 2006, the death proceeds of a life insurance policy above the policy cost basis will be income tax free only if certain Notice and Consent requirements are met.   IRS issued IRS […]

National Underwriter Life & Health Magazine Features Article "After DOMA" By BSMG's Advanced Sales Expert Russell Towers