Sorry to hear that . He was very knowledgeable.
Fully Underwritten vs Simplified Issue vs Guaranteed Issue
- Thread starter LostDollar
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- 20,003
Matt got into recruiting. I think he still does.
He was the real deal. He didn't just talk the talk.
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- #73
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Re Matt Kuhn
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- Thread starter
- #74
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Thanks for the Midland suggestion.
Their minimum face on new issues is $100K. Out of my price range.
I'm also too old to start their Medical Underwriting process.
As long as I can pass the underwriting questions, Oxford's final expense product is a perfect match for what I want.
- 11,152
I did not realize that. I used to speak with him occasionally on and off about various products and concepts. Super knowledgeable guy. I always learned something from him when we spoke or emailed. Sorry to hear that he passed.
RIP Twilight
- 17,243
I didn't know that Twilight passed away either. He hasn't called in a while though. He was a good guy with some good knowledge.
Did you ever meet him? He was huge! When I met him he had lost a couple hundred pounds but was still carrying over 400 lbs. Stood about 6'8". He was trying to get healthy, but just didn't do it in time...or at least that's what I believe.
- Thread starter
- #79
- 7,426
Thank you for the suggestion.
That would have allowed me to earn money on the premium, but it would not be a permanent solution over a possible lifespan of now + 20 or more years.
It would also mess up the transfer on death record keeping at one of my credit unions. I would carefully have to track each CD I had there for the right transfer on death information instead of having the master record for all accounts as I do now.
I have ultimately gone with life insurance as a preferable solution for those reasons.
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- #80
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I am very unsophisticated when it come to purchasing annuities.
What i was unclear about as I started trying to think this through is whether or not I would actually wind up with premium paid as the actual death benefit-I could not get clear in my head when that would and would not happen.
In addition, taxability of the bequest is a significant concern. With an FIA I would have to use Roth funds to achieve that objective. From the overall perspective of my complete family unit, any Roth funds I have would probably be better spent for GLWB rider products for my wife and me, rather than on legacy. That does have me giving up any possible annuity gains for legacy purposes.
Oxford final expense products were recently mentioned to me. Their online quoter showed me a premium for $10K coverage under a $9K premium line, rather than over it. The premium for $12K was only a little more than what I would have put into an annuity for legacy.
Access to the Oxford final expense product stops at age 80 which means I need to act soon if I want that.
I needed the stress of this concern out of my life, so I used an agent JD suggested an did an Oxford app for the legacy purpose.
Now I am down to just the one concern of figuring out how to accumulate a combination of roth funds on hand and future incoming flows into one spot and then finding a single or flexible premium GLWB product with decent lifetime payment percents available to over 80 purchasers (and the agent to sell it to me).
Thank you for the time you took to think about my problem and make a suggestion.
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