Understanding the changes to tax code 7702 and what it means for the life insurance industry

Chris here again. Checking in on a huge tax change that occurred at the end of last year that  is now beginning to unfold. At the end of 2020, a large bill focused on  government spending and coronavirus relief named: “Consolidated Appropriations Act, 2021” was pushed through Congress. A $2.3 trillion spending bill in stimulus  Read more ➝

Building an agency from the ground up

Hi guys, Chris here again. As a veteran in the insurance industry, I’ve had the opportunity to be part of seeing many insurance agencies grow from single agents to large teams bringing in tens of millions of dollars of commission a year. Because of this, many hungry Brokers that I come across ask me what  Read more ➝

Let’s Change the Way We Think About Life Insurance

When you hear, life insurance, what do you think about? If you had to describe a life insurance policy, how would you? You might describe it as a monthly payment for a worst case scenario situation. What if you could grow and withdraw money, tax free, while protecting your family’s financial future? What if you  Read more ➝

When I first learned about life settlements I thought it sounded a bit odd

Chris Marino – My Introduction to Life Settlements By Chris Marino, Business Development Director for Toropoint Financial  Hi, Chris here. As a first blog, I wanted to quickly introduce myself. During my 15 years of experience in the Life Insurance industry, I have a lot of experience with the hardships that come with owning a  Read more ➝

“Acts of God” – How to help clients protect their business

The past few seasons have demonstrated how fickle Mother Nature can be. Warm days followed by cold ones, stretches of rain followed by droughts – it’s enough to give a person whiplash. For your clients, the changing weather can mean unfulfilled contracts, cancelled events, damaged properties, and more. Clients may think that catastrophic weather events  Read more ➝

How to have difficult life insurance conversations with your clients

As a financial planner or insurance sales executive, your job is the tell people that bad things can and will happen to them. It’s not pretty, or comfortable, to sit across from a client and talk about their inevitable death, or grave injury, or business collapse, or other devastating events. Although you are ultimately offering  Read more ➝

Why CPAs Should Offer Insurance Services

All Certified Public Accountants get to know many financial things related to the clients and firms they are serving. This enables you to better serve financial products like insurance, since most of the requisite information related to selling insurance policies to clients is already known through audits and financial statement analysis. As a CPA, you  Read more ➝

A Guide to Estate Planning in 2018

Estate planning is essential for everyone who owns any type of property and who would like to preserve their assets for the benefit of future generations. This is because if no specific plans are put in place, all the assets that you worked so hard to acquire may end up in the hands of strangers  Read more ➝

Key Man Insurance

What is Key Man Insurance? Key man insurance is an insurance policy that a business purchases to cover the loss of income or expenses that can result when a key member of a business is no longer able to lead the business. It may include both life insurance and disability insurance on the key person  Read more ➝

Business Succession Planning

Business Succession Planning According to a recent survey of small business owners (defined as those with fewer than 300 employees), three out of five of the respondents did not have a business succession plan in place, with nearly half of that pool saying they thought it unnecessary. Of business owners who have a business succession  Read more ➝