Let Upstate keep you up to date, with news you can use!
  January 14, 2014 Edition
In This Issue
Welcome!
Term Enhancements Available
Executive Life Ins. in Retirement Planning
LTC Deduction for 2014
 
Upstate Special Risk Services, Inc.
400 West Metro Park
Rochester, New York 14623
585-273-8530 
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Welcome to our new and improved Newsletter.  We are looking forward to working with you in 2014!

 

As we continue to refine and development tools and information that will help you in your practice, we look to you for any feedback or suggestions.  Please contact me at [email protected] anytime!
  
Until next week....
  
Liz
 
Transamerica Announces
Term Enhancements
  
The term conversion privilege on Transamerica term products provides clients a great way to get lifetime insurance protection, while giving you another way to maximize the sales potential of your book of business.  Transamerica is pleased to announce enhancements to their conversion program that include additional product options when term conversion occurs with the first five policy years.
 

Executive Life Insurance in Retirement Planning

 

Case Study

 

An executive would like to save money for retirement but has maxed out on available qualified plans, such as 401(k)s and/or IRAs.  He would like additional life insurance protection for income replacement if death should occur prior to retirement. 
  
Solution
 
Executive can purchase a Corporate VUL insurance policy on his or her life.  The policy builds a cash value account over time, based on premiums paid into the policy.  The executive will be paying the premiums directly out of pocket on an after-tax basis.  Pre-retirement, the policy will provide income tax-free death benefit protection; post-retirement, the potential policy cash value can be used to supplement retirement income.  And yes, we can assist you with VUL sales too!! 
 
IRS Announces LTC Insurance Premium Deduction For 2014

 

We thought this information was important enough to include in our newsletter again this week.  The Internal Revenue Service ("IRS") has announced its annual cost-of-living and inflation adjustments for 2014. Tax laws require the IRS to adjust the dollar amounts of dozens of tax provisions each year to account for inflation, including adjustments for eligible long-term care insurance ("LTCI") premium deductions.