Westland Financial Services

A Case to Share May 13, 2020

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During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Guaranteed Life Insurance: We have had several cases these last 2 weeks for Guaranteed Universal Life (GUL) and a couple of cases that opted for Variable Life with Guarantees.  Both options will provide guaranteed death benefits through ages 105-126 at more affordable pricing than you might think.  Take a look at the IRR page(s) of an illustration.  Most show a 5.0% – 7.0% IRR through age 90.  
 
In one case, client age 50 Male wanted $1,000,000 Guaranteed and only had a budget of $8,000.  We couldn’t get him the $1,000,000 guaranteed since that cost was over $9,200 annual.  We opted for $700,000 Guaranteed at $6,600 annual and an additional $600,000 of 25 year term at an annual cost of $1,500.  $100 over budget annually, however his family and goals were better protected through age 75. He was happy that his family could continue their lifestyle should his unexpected premature death happen sooner than later. His remaining earning years were better protected and lost social security for his spouse at his death would be protected for life and very likely he would leave a nice legacy should he live a long life. 
 
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Would love your input if you have never done business with Westland – click here  
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income? What would have to happen for your business to continue?
 
Would you like me to look at some life insurance protection for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 29, 2020

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During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Pension Max: Client was retiring early with a nice pension. However, the joint life amount was almost $3,000 less per month ($36,000 per year) than his single life pension.  We took $20,000 and applied for a Standard Health guaranteed permanent policy with Lincoln and had a guaranteed Death Benefit of about $950,000.  The client will enjoy an additional $16,000 annual in retirement income and protect his surviving spouse with a nice tax-free death benefit should he pass pre-maturely (his single life pension will cease).  Note: We’re hoping he can qualify for preferred health, then the death benefit will be nearly $1,200,000 guaranteed to age 126 (Lincoln VULOne).
Case 2
 
LTC Protection –  Clients ages 55 and 57 (Male/Female) need LTC protection as they prepared for retirement.  After looking at many options including traditional LTCi, State Life AssetCare and other products, we recommended MoneyGuard policies.  These were quoted with a 10 pay option.  Roughly $4,700 annual for him and $5,700 for her.  In their mid 80’s when an LTC event is likely, they will each have nearly $400,000 for care.   
 
Case 3
 
Supplemental Retirement Income:  Client age 31 deposits $3,291 Annually until age 65 to create a potential supplemental tax free retirement income of $28,000 annually at age 66 for 15 years.  This also supports death benefit that should be $470,000 prior to starting the income and still be about $225,000 at age 90.  Win Win
 
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When you speak with clients and calm their fears in this volatile market, why not introduce a life insurance and/or a LTC discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income (earned, pension or social security)?
What would happen if you needed to spend an extra $5,000 – $8,000 per month for care expenses?
 
What would need to happen for your business to continue?
 
Would you like me to look at some protection options for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 23, 2020

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During the last week we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Simple Idea: Client applied for Term Insurance at a Preferred Rate and got approved for a Preferred Plus Rate.  Instead of taking the lower rate (and lower commission amount) we suggested that the advisor increase the death benefit for the same premium the client was willing to pay. Win Win.
 
Case 2
 
Legacy –  Wealth Transfer: Clients aged 72 wanted to enhance their Legacy.  Simple Survivorship (Second-to-Die) Strategy allowed them to deposit $20,000 for 20 years and create a tax-free death benefit for heirs of $1,100,000.  
 
Case 3
 
Supplemental Retirement Income:  Client age 32 deposits $1,000 monthly until age 50 to create a potential supplemental tax free retirement income of $101,000 annually at age 60 for 30 years.  The client will also have a significant death benefit to help fund goals for his family should he pass away prematurely.  Win Win
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you?  Would your Family have to make significant lifestyle changes because of the lost income? What would have to happen for your business to continue?
 
Would you like me to look at some life insurance protection for you?
 
Simple questions to help start a discussion, begin helping clients in additional ways and boost the value of your practice.
 
Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 14, 2020

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During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Family Planning!  Younger client has a good job with some discretionary income and concern for her parents.  The plan was to share the cost of a Life with LTC protection strategy with her parents and guarantee herself a nice legacy as part of her retirement planning.  
 
$500,000 death benefit with 2% LTC for both mom and dad age 65.
 
Combined cost was roughly $2,000 per month for 20 years.  Parents and daughter split the cost with her parents at $1,000 each. Daughter was primary beneficiary on both policies.
 
No matter what happens in the future, $1,000,000 in benefits will be realized.  Tax-Free death benefit or some or all used for any long-term-care needs of mom and dad – protecting depletion of other assets and home equity.
 
Daughter is leveraging her free income and will spend (invest) about $240,000 over 20 years.
 
The 2% LTC option was chosen to better protect the daughter’s interest.
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you? 
 
Would you like me to look at some life insurance protection for you?
 
Also a nice way to boost revenue for your practice while helping clients.  Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 7, 2020

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During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
We completed a life insurance analysis for a couple – Dale age 61 and Mary age 66.  Dale had a $200,000 policy and Mary had no life insurance.  With a pre-mature death of Dale the projections showed that Mary’s plan would carry her through age 100, however, with the pre-mature death of Mary, Dale’s plan showed he would run out of funds at around age 91.
 
We ran the same type of analysis for a hypothetical long-term-care event.  With no protection strategy in place for either of them, we found the same outcome.  A typical 3 year LTC event involving Dale at age 83 and then passing, shows that Mary would still be fine through her age 100.  However, a LTC event involving Mary and then passing at her age 85, showed that Dale would be out of funds at age 91.
 
After careful analysis of many options, we recommended the purchase of a John Hancock Protection IUL with LTC rider for Mary and for Dale to keep his current insurance program in force.  The plan called for a death benefit of $250,000 with 100% available for LTC expenses if and when needed at up to $10,000 monthly.
 
Results: 
 
With the cost of the insurance ($5,633 annual) the change in net worth at Dale’s age 100 was a hypothetical change of only about $130,000 less.  Now with insurance, If Mary passed pre-maturely or had a LTC event, then Dale was much better protected and likely carry his plan to age 100.  
 
Note: The life insurance death benefit amount of $250,000 is fully available to help offset LTC costs for Mary if ever needed.  Any amount of her death benefit not used for LTC expenses will be a tax-free death benefit for Dale or other beneficiaries.
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  
 
Ask, what if the worst happened to you? 
 
Would you like me to look at some life insurance protection for you?
 
Also a nice way to boost revenue for your practice while helping clients.  Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share April 2, 2020 Life Insurance in a Pandemic

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During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Be rest assured that there will be no drop in service and capability for you and your clients over the coming weeks and months.   Be well and continue to reach out to Westland to help protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Warning! Many of your older clients, their parents or grandparents are receiving care in their homes.  We had a case recently, where a client had an unfortunate turn of events.  First a kitchen fire caused him to have to move out of his home.  He and his live-in caregiver moved into a hotel suite for a couple of weeks until a more appropriate venue was located.  Then the family had no choice but to move him into an assisted living venue and the caregiver was let go.  Immediately, the family was hit with a claim for unemployment coverage.  Within a few weeks, unfortunately, the client passed and a few weeks later the family was hit with a lawsuit claiming overtime pay and other damages.
 
In the midst of their grief, they have to hire legal representation and try to protect as much as they can.  This will be very costly for them as this individual was receiving in-home care for a fairly long time and still had some significant assets.  Tough lesson to learn.
 
Please review this guide and make sure your clients who receive care in their home abide by their state rules and regulations.
 
 
Call us today.  (800)238-8144

A Case to Share March 26, 2020

By

During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
Westland is here to help you protect your clients, their, families, their businesses and their portfolio.
 
Case 1 
 
Could you imagine one of your clients stricken with COVID-19 and the worst happening?  Unimaginable, but it is happening.  Hopefully, you spent the time with them in the past to put in place a protection strategy that will allow them to still take care of their families and fund their goals in just such an event.
 
When you speak with clients and calm their fears in this volatile market, why not introduce the life insurance discussion as well.  Ask, what if the worst happened to you? Would you like me to look at some life insurance protection for you?
 
Clients can easily guarantee a legacy or funding goals for their family if they are healthy today.  The life insurance industry is reacting more to the low interest rates than to the COVID-19 threat and that reaction is likely to mean that insurance protections will cost more in the future.  Lock in today’s rates and don’t delay any longer taking action.
 
Also a nice way to boost revenue for your practice while helping clients.  Let’s work together to identify a couple of potential cases and get moving.
Tim Morton, CEO
E-Mail: Tim Morton
(800)238-8144 x127

A Case to Share January 16, 2020

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During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
 
Case 1 
 
93 year old in good health looking at a forced annuitization and doesn’t want the income.  What to do?
 
Client has an annuity with a value of $1,800,000 and a cost basis of $1,100,000.  She believes she isn’t leaving this world any time soon and doesn’t want to be forced to start taking income.  Her two daughters will be beneficiaries and want to keep options open also.  
 
Luckily, we have an indexed annuity option that issues to age 93.  The Standard Indexed Select Annuity with an S&P 500 cap today of 4.75%. Good upside potential. However the company has a $1,000,000 limit without prior approval.  We requested an exception and received approval for $1,500,000.  Additional good news, The Standard accepts partial 1035 amounts and the releasing annuity company also honors partial 1035’s.  The balance will be placed in Legacy Care with State Life.  
 
Case 2
 
Solid Premium Finance Case. Female single age 70 with net worth of $35,000,000. Liquid assets over $3,000,000 and income of over $800,000 annual.
 
$7,000,000 current life insurance needed with rising death benefit to help offset estate tax burden. Case designed by advanced markets team…  
 
Life Premium $732,676 for 10 years – client out of pocket $325,000 for 15 years. Repay loan of just under $5,000,000 in year 16 from cash value of life insurance.  Net death benefit at life expectancy of about $13,000,000.
 
Expected IRR of over 7.0% through age 90.
 
Have a potential large case.  Call us today.  (800)238-8144
 
Call or E-mail Nancy Woo to discuss a life or LTC case today.
E-Mail: Nancy Woo
(800)238-8144 x103
 
Call or E-mail Sean Sahin to discuss an annuity or LTC case today.
E-Mail: Sean Sahin
(800)238-8144 x120
 
Tim Morton, CEO, anytime about any case or marketing program
E-Mail: Tim Morton
(800)238-8144 x127
Your Westland Team

A Case to Share December 6, 2019

By

During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
 
Case 1 
 
Single Female age 70 in good health.  Her son has a thriving business and wanted to make sure mom had a solid long term care protection strategy in place.  He wanted to commit $100,000 to take care of mom, make sure she had quality of life should a need present itself and to make sure that he and his wife remained care coordinators and not care providers.
 
We looked at several alternatives – the top 4 were.
 
1) MoneyGuard with an inflation rider (7 year benefit period)
2) MoneyGuard with a level benefit (6 year benefit period)
3) ForeCare Annuity (6 year benefit period)
4) John Hancock with the LTC Rider (25 month benefit period at max monthly available)
 
Monthly Benefits:
1) $2,478 at start rising at 3% – max LTC benefit pool $354,929 at age 85
2) $3,879 at start and level – max LTC benefit pool $279,288
3) $4,167 at start and level – max LTC benefit pool just over $300,000
4) $10,623 at start and level – max LTC benefit pool $265,585
 
In our analysis and after discussions with the client we recommended the John Hancock option.
 
If mom died in her sleep with no LTC event – $100,000 becomes $265,585
If mom has a typical LTC event at age 85 with a hypothetical cost of $8,000 per month, the John Hancock benefit would last 33 months with no other out of pocket expense.  The exposure is for a longer LTC event.
 
With the other choices, this same hypothetical LTC event at $8,000 monthly, would require about $4,000 per month out of his portfolio to supplement the LTC benefit payments.  Over the first 33 months, he would have had to spend about $132,000 additional.  This same $132,000 would extend the John Hancock benefit by another 16 months or so.
 
All in all, choices 1-3 were beneficial only when there was a longer duration event of over 4 years. A shorter duration or no LTC event and John Hancock was clearly more advantageous. 
 
Call Westland to help you research options and make a recommendation for you.  We won’t just send you illustration after illustration.
Call Westland about a case today and let us go to work for you.
Call or E-mail Nancy Woo to discuss a life or LTC case today.
E-Mail: Nancy Woo
(800)238-8144 x103
 
Call or E-mail Sean Sahin to discuss an annuity or LTC case today.
E-Mail: Sean Sahin
(800)238-8144 x120
 
Tim Morton, CEO, anytime about any case or marketing program
E-Mail: Tim Morton
(800)238-8144 x127
Your Westland Team

A Case to Share November 7, 2019

By

During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
 
Case 1 
 
Couple ages 61 and 56 doing well living in the bay area.  As part of their annual review their Advisor had an agenda item to review and present options to address LTC risk.  In the past, they had deferred the discussion to a future meeting, but the time was now.  Their Advisor was more determined to have the discussion and put a plan in place to fulfill his planning obligation to this couple who were “A” Clients.
 
We explored “asset based” options with a budget of $150,000.
 
MoneyGuard $78,000 for him and $83,000 for her created a $4,500 monthly benefit with 3% inflation growth.  The pool of benefits started out at $350,000.  By age 85 the monthly benefits would be over $10,000 monthly with a pool available over $820,000 for her – 10X leverage on her initial deposit.  Death benefit never less than $108,000 each (more than their initial deposit).
 
Asset Care $154,000 deposit for joint life protection would provide monthly benefit of $9,000.  The lifetime Continuation of Benefits (COB) rider was an additional $2,441 annual creating an unlimited pool of benefits.  Over 30 years that rider expense would be over $73,000.  Joint life Death Benefit of $300,000 if care not needed.
 
John Hancock – Life with LTC Rider.  $80,000 for him and $70,000 for her would create death benefits (DB) of $257,000 for him and $302,000 for her.  The DB is liquid for LTC at $10,000 monthly for him and $12,000 monthly for her.  All unused DB goes to heirs.
 
Traditional LTCi – For $4,879 monthly they would each have a LTC policy that would provide a $4,500 monthly benefit for 4 years growing at 3% annually.  With no rate changes, they would spend about $146,000 over 30 years.  No Death Benefit if care was not needed.
 
Tough decision since each option has its benefits and you could make a good case recommendation.  The eventual decision for this case was to go with MoneyGuard. Mainly because of reputation, guarantees, application process and individual benefits with a DB available to survivor if care not needed.
Call Westland about a case today and let us go to work for you.
Call or E-mail Nancy Woo to discuss a life case today.
E-Mail: Nancy Woo
(800)238-8144 x103
 
Call or E-mail Sean Sahin to discuss an annuity case today.
E-Mail: Sean Sahin
(800)238-8144 x120
 
Your Westland Team
 
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For Professional Use Only-Securities offered through Lucia Securities, LLC,. Member FINRA/SIPC13520 Evening Creek Dr. N., Suite 300, San Diego, CA 92128.
Westland Financial Services, Inc. is not affiliated with Lucia Securities, LLC,. Westland CA Insurance Lic #: 0785972