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News & Press: CalAdvisor Newsletter

The Political Realities of LIAM and Financial Security

Tuesday, September 6, 2016   (0 Comments)
Posted by: John A. Davidson, LUTCF, FSS
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Over the past few weeks, I have met with three Members of Congress during their Summer Recess and talked with them about America’s Debt Crisis.

With our current $19.5 Trillion debt representing over 104 percent of GDP, and almost 74 cents of every tax dollar currently collected going to "interest only" on the debt, what is going to happen when the Federal Reserve raises interest rates? Where is the Government going to find the money?

My last two articles discussed the very real option of: means testing, increased taxes or a major reduction in promised benefits. Something has to give because we cannot possibly dig out of this financial mess.

So, what can we, as agent/advisors do about the financial calamity that is sure to come? For one thing, we can have serious conversations with our clients so that they see what we see. As Ben Feldman (and Marvin) would say: "Take the Problem, put it in a package and present it to your clients.”

We provide the products that can guarantee financial security to our clients that will keep them from being dependent on the government for their financial future. We just have to have the discussion, help them to see the reality and then MOTIVATE them to do what they need to do to make sure that they have enough permanent life insurance and annuities to provide that guaranteed income stream that they will need to survive in the years to come.

Life Insurance Awareness Month is just that; Being Aware of the benefits of having the right kind and amount of life insurance to guarantee the financial security for yourself, your business and family.

Just yesterday I was referred to a very nice young couple who own a successful business here in town. They had called me to talk about setting up a "retirement plan" and to buy some life insurance. They wanted to prepare for the future and NOT end up like their parents who are in their late 50’s without any retirement and only term insurance.

By the end of that meeting, I came away with a census for a 401(k) Plan for the business and two applications for $1 Million of traditional whole life insurance with all of the guarantees that come with it. That is what they wanted; Guarantees, Security and peace of mind.

As we prepare to meet later this month in Las Vegas at the NAIFA National Conference, I would encourage you to get very serious about talking to as many people as you can (especially the 20 somethings) about "sending money down the road to that older person you will be someday, so that it will be there when you get there."

Their financial security and the future financial security of America will depend on how successful you are. Let’s make every month Life Insurance Awareness Month!

See you in Las Vegas!

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