What Every Financial Advisor Needs To Know
About The SECURE Act Of 2019
Can you feel it?
It’s all around us. Yes, LOVE is all around us as we celebrated Valentine’s Day this month. Capitalize on this moment and raise awareness for the perfect gift of the season — a life insurance policy to protect and care for loved ones. Contact your BGA for a quote today.
By nature, people are optimistic, especially at the start of a new year. Having confidence in a better tomorrow tends to carry over into every aspect of our lives — including retirement. But in reality, that optimism may cause them to overlook potential risks. Contact your BGA to learn how they can help.
The SECURE Act, signed into law on Dec. 20, 2019, provides greater opportunity for individuals and families to save for retirement. It includes significant changes that affect qualified retirement plans and IRAs, and can also create some new estate planning challenges. The good news—life insurance can be used to help meet those challenges.
Contact your BGA to learn how.
On January 14, 2020, we’ll announce our name is Equitable – with a clean and modern look to reflect our brand.
We begin this new chapter from a position of continued financial strength and stability. As you may know, we became a publicly listed company (NYSE: EQH) in May of 2018, and an independent organization in March of this year.
Assets that pass to certain non-spouse beneficiaries will greatly increase the taxes on IRAs when passed to the next generation. Distributions must be taken within 10 years of the death of the IRA owner. This may cause a huge deferred tax liability. Find out how life insurance can help. Contact your BGA today.
Make sure you are NY Compliant. Under the regulation, individual insurance producers, agencies, and brokers licensed to sell insurance in New York must have a cybersecurity program and implement processes for dealing with cybersecurity incidents or breaches and certify annually to their compliance with the law, unless they qualify for a full exemption
For step-by-step instructions on how to complete your certificate of compliance filing or for more information on the NYDFS requirements, visit their website here. DFS also provided guidance through FAQs, which can be found here, as well as their Cybersecurity Resource Center, which can be found here.
A buy-sell agreement funded with life insurance As an owner, you work hard for the success of your business, and you consider the well-being of your family and your employees when you make decisions. One of the most important decisions you’ll make is who will take the reins of your business in the event of the death, disability or retirement of you or a co-owner.
A buy-sell agreement can be vital to your financial future and the survival of your business. It is a buyout contract establishing the terms and fair market value for the sale of an owner’s interest in the business. A buy-sell agreement can help make sure your business continues without disruption. Life insurance is a cost-efficient way to fund your buy-sell agreement. It can provide a lump sum of cash that may be used to purchase a deceased owner’s business interest, generating immediate liquidity for estate taxes, an income stream for loved ones, or to meet other needs. Contract your BGA to learn more.