FBO Strategies LLC

07/31/2019

Former Sears employees losing their life insurance is a tragedy. They are currently being offered $135 each which is about 1/100 of what the plan originally prescribed. This situation points to some important overall planning points. Firstly, you should not count on your employer’s life insurance program as we can see it is subject to change. Secondly, most if not all people can benefit from having some permanent insurance. Many financial advisors do not subscribe to this philosophy. However, with a guaranteed death benefit even a small life insurance policy can make a big difference to almost any family. Wealthy families are told to use life insurance as a wealth transfer tool all the time. It works well for almost anyone. FBO Strategies LLC, helping families to properly and ethically use insurance products in their planning.

Workers who retired after years of folding shirts and selling refrigerators for Sears Holdings Corp. banded together earlier this year to complain when the retailer’s bankrupt shell terminated their life insurance plan.

07/25/2019

Disability insurance is often overlooked when putting together an insurance or financial plan. In general terms for the young working individual, you are 3X more likely to become disabled than to die prematurely. A long-term disability can be financially devastating to a family on top of the emotional toll it can take. Group coverage from work is the most cost-effective, but it is frequently inadequate for high earners. FBO Strategies LLC is an ethical insurance and estate planning firm dedicated to using insurance properly for its clients.

Long-term disability insurance can replace your income when short-term coverage from your employer ends and your emergency fund runs out.

06/26/2019

Relying on employer-based life insurance is not the best planning strategy. In this example the benefits are small, but for others, they can be substantial. This goes for group coverage during your working years as well. Companies can change benefits or if you change jobs you can leave your family exposed. FBO Strategies LLC we help our clients to use insurance properly in their financial planning.

Retirees of 3M Co. learned in late May the company was cutting their life insurance policies nearly in half. A letter shared with the Pioneer Press said the maximum life insurance payout would fall…

05/28/2019

A good deal of the decline in the use of life insurance has to do with the industry constantly promoting the term and invest the difference strategy. Almost every article about life insurance has a statement something similar to, "you should only use permanent insurance if you are wealthy for estate planning." We believe that both temporary (term) insurance and permanent life insurance have a place in a client's overall planning. However, it should not be evaluated as an either or, but rather a with or without. FBO Strategies LLC, helping clients to properly use insurance products.

The number of policies is dwindling most among lower earners.

04/25/2019

04/23/2019

From a purely financial perspective owning a home can be a money suck. However, there are emotional benefits to owning a home for your family. Additionally, the forced savings of owning a home is in some cases the only way some families save. There are better vehicles to use, and this is a very personal decision. However, the days of buying or stretching to buy the largest home you can afford may be winding down.

"A lot of people will tell you that buying a home is a good investment — and that couldn't be further from the truth."

04/08/2019

Don't put off protecting your family. Life insurance is a powerful tool.

Life insurance is a mystery to most people, but it's an important part of your financial picture, so don't let these common misbeliefs stop you from protecting yourself.