Clinton- Trump III

Have you been watching the debates? Hard not to, like driving by an accident on the highway you just have to look. I try not to be political in my blog but the debates are just too juicy to pass up. One thing I have been noticing about this election, there don’t seem to be as many “signs” as in other years. I usually see signs and bumper stickers in support of the candidates. While I am seeing a lot of signs for the local candidates I’m not seeing any Clinton or Trump signs. Perhaps the reason is that many are undecided? Or is it that no one wants to be public about who they support?

Wouldn’t it be nice if tonight’s debate just focused on the issues? I have a cousin/friend who had a great idea that will never be implemented. New debate rules.

Dave Krechevsky

My fantasy for the final debate: The candidates are NOT allowed to talk about each other. Topics will be limited to real issues: the economy, health care, ISIS, the racial divide, refugees, etc. Responses must be limited to only what he/she proposes to do. If either begins to stray and talks about or attacks the other, his/her microphone is shut off and the rest of his/her time to respond is lost or given to the other. And Bob Schieffer would be moderator.

Since we know this won’t happen, I thought it might help if I reposted each candidates proposal on taxes. At least when you are watching the debate you can have some info that might help you make a choice on policy and not on personality.


Though tax policies haven’t received top billing in this year’s presidential election dialogue, they’re still part of the conversation. Here’s a quick review of each candidate’s tax proposals based on information released by their campaigns. Keep in mind that regardless of who wins in November, any changes to tax policy would require congressional action.

Note:  On August 8, 2016, Donald Trump announced a revised tax plan. Full details of the new plan were not immediately available on the campaign’s website. The following summary is based on the original plan announced by the Trump campaign and what we currently know about the revised plan.

Tax brackets

Plans released by the Trump campaign initially proposed reducing the current seven tax brackets to four, with the top rate dropping from 39.6% to 25%, and no tax due for individuals with incomes under $25,000 ($50,000 for married couples filing jointly) Trump has recently announced changes to his tax proposal, including a consolidation to three tax brackets: 12%, 25%, and 33%. This change moves the Trump campaign’s plan closer to the tax reform plan announced by House Republicans in June of this year. The Clinton campaign’s tax plans do not reflect changes to existing tax brackets, but do support a new 4% “fair share surcharge” on taxpayers with an adjusted gross income (AGI) exceeding $5 million.

Long-term capital gains and qualified dividends

Currently, lower tax rates generally apply to qualified dividends and to capital gains resulting from the sale of assets held longer than one year. Plans released by the Clinton campaign recommend adjusting the holding period schedule for long-term capital gains, increasing the minimum holding period from one to two years and adding medium-term holding periods that gradually reduce the top long-term rate down to 20% for assets held for more than six years. Plans initially released by the Trump campaign indicated that the top rate of 20% would continue to apply, with no change to current holding requirements.

Alternative minimum tax (AMT)

The AMT is a separate, parallel federal income tax with its own rates (26% or 28%, depending on income) and rules. It is intended to ensure that taxpayers who use certain strategies to reduce their tax liability pay a minimum amount of tax. The Trump campaign has called for elimination of the AMT. The Clinton tax plan would presumably add a new tax layer, imposing a minimum tax due of 30% on those with incomes exceeding $1 million.

Deductions, exemptions, and exclusions

Proposals released by both candidates would limit itemized deductions for higher-income filers. The Clinton team’s plan would limit the benefit of itemized deductions and certain items that are excluded from income (e.g., tax-exempt interest) to 28%, which means that the benefit of these items would be reduced for individuals in higher tax brackets; charitable deductions would be excluded from this limitation. The Trump team’s plan would accelerate the limitation of itemized deductions and the phaseout of personal exemptions for higher-income filers, though the treatment of deductions for charitable giving and mortgage interest would remain unchanged. The original Trump campaign tax plan also indicated that the ability to exclude earnings in life insurance contracts from income would be phased out for high-income individuals.

Estate tax

The two campaigns have very different views of the existing federal estate tax. The Clinton campaign proposes increasing the top estate tax rate from 40% to 45%, and decreasing the estate tax exclusion from $5.45 million to $3.5 million. The Trump campaign proposes eliminating the federal estate tax.


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Met Life = Brighthouse


Brighthouse Financial Files Form 10 Registration Statement in Connection with Planned Separation from MetLife

MetLife, Inc. recently announced that Brighthouse Financial, Inc. filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (the “SEC”). The filing of the Form 10 is an important step in MetLife’s plan to separate into two independent publicly traded companies. The filing provides information on the strategy and historical financial data of Brighthouse Financial and will be updated with additional information in subsequent amendments as the SEC reviews it.

The Form 10 Brighthouse filed reflects MetLife’s current plant to initiate the seperation of Brighthouse in the form of a spin-off. The ultimate form and timing of the transaction will be influenced by a number of factors.

To learn more about this announcement, you see MetLife’s press release, theirFAQs document, or contact Insurance Designers of America today.

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Secret to success: Daily rituals

Your No. 1 ritual should be: Use more rituals.

Just having a ritual is key. It doesn’t matter what Warren Buffett does before breakfast—the important thing is what you do before breakfast. The more consistently you do it, the more powerful it will be.

Rituals help you savor life. Ever make a toast before you drink? It helped that drink taste better. Enjoy the ritual of preparing your morning joe? It makes the coffee taste better.

Rituals curb procrastination. Doing something by rote reduces anxiety.

Rituals help you excel. Athletes have crazy rituals like not changing their “lucky” socks. And you know what? This stuff works. Whatever gives you confidence works. If it makes you feel lucky, you’ll be lucky.

— Adapted from “This Is the No. 1 Ritual You Need to Do Every Day,” Eric Barker, Time.

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The $65 Million Question: What License is Needed to Sell under DOL Rule?

Advisors will have to consider what licenses they hold and what licenses they may want to get under the DOL fiduciary rule.

Source: The $65 Million Question: What License is Needed to Sell under DOL Rule?

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Nationwide is Next- GUL Increase


Nationwide announces reprice for GUL products
Due to the persistently low interest rate environment, several carriers have recently announced recent price increases, and Nationwide just announced a forthcoming price increase for their GUL product as well.  The product impacted by this announcement will be the YourLife No-Lapse Guarantee UL, effective November 7th, 2016.

  • Level pay premiums will increase up to 10% on clients age 55-75
  • Level pay premiums will increase 10% or more on clients younger than age 55
  • 10 pay premiums will increase 5% to 10%
  • Single pay premiums will increase 8% to 10%

Some important transition rules

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Know Your Machine

A gem of a guest article- supplied by American National- author unknown.

What is the best way to make a point or get a message across to a reader? Well, using a past experience to tell a story and use that to convey your message is one of the best ways to drive home an idea to ponder. Humor is also a great way to deliver your message even if you are using someone else as the subject of your story, in this case my brother.

 Stick with me for a bit here because there is a point to my childhood story. My brother and I had a great childhood back in the late 60’s and early 70’s. No television or video games especially no cell phones. We had to make our own fun. Our childhood home was located at the end of a long street with a very long driveway. We had a game or contest if you will where each one of us would ride our bicycle from the end of the street as fast as we could and down the driveway and slam the brakes to see who could stop the closest to the garage door without hitting it. We thought it was pretty much the same thing as landing a jet fighter on an aircraft carrier without going over the end of the ship. By the way, who needed a helmet? We were daredevils. One afternoon, I was really on my game and had posted some pretty good results. I was consistently beating my older brother skid after skid closer and closer to a pending emergency room visit. In those days bicycles had a foot brake that allowed you to jam the pedal backwards for an incredible skid with black tread marks screeching down the pavement. My brother grew angry that I was simply dominating him run after run.

 Here is where it gets really good. Recently my oldest brother had his bicycle converted to hand brakes. My brother decided to go get the oldest brother’s bike and use it because it was much faster than anything we had. So, there he is, at the end of the street fixed with determination to win and a machine well equipped to do the job. As he made the slight turn from the street to the driveway, I could see the joy in his face that he knew I was done. He pushed the outside of the envelope to its extreme and was past the critical point of hitting the brakes. Then it happened, time to execute emergency braking procedures. He violently stomped his foot backwards , forgetting this was now a hand brake machine, and only got the spin and clicking you get with a hand brake bike. In a moment of sheer terror that seemed to last a lifetime, the horrid look on his face when he realized his absolute error in forgetting the hand brake has stuck in my mind forever. The crash was indeed impressive. By the time I gathered myself from uncontrollable laughter, he was just coming too, the bike was halfway through the garage door and the front wheel was missing. Wow, I thought, you win.

 So what does this have to do with insurance? Well not much. What it does do is point out the importance of knowing all the small details of your instruments, tools, products. When you reach a critical pinnacle with your clients as in claim time, retirement, benefit rider acceleration, you do not want that look of sheer terror my brother had in his face when he realized no foot brakes. Clients are expecting you to be the expert. You need to know every detail of the products or you may wind up stuck in the garage door missing a front wheel.

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Life Insurance Awareness Month

AIG is making availalble to our producers-

Signatures for September is Life Insurance Month- Feel free to add these to your emails to make your clients aware of Life Insurance Month

Outlook Users Gmail Users
  1. In the Outlook ribbon, choose File → Options.
  2. In Outlook Options choose Mail and then select Signatures.
  3. Select a Signature to edit.
  4. Add the image by selecting the Image ( ) button. Choose the Image and click Insert.
  5. Highlight the Image, then select the Link
    ( ) button. Paste in this link:

Click OK twice.

  1. Log into Gmail and select Settings
    ( ). Choose Signature.
  2. Under Signature, select the Image ( ) button. Choose Upload then drag and drop the image in.
  3. Highlight the Image and select the Link
    ( ) button. Next to Link: select Change then add in this link:
  4. Go to bottom of page and select
    Save Changes.

LIAM September is Life Insurance Month
For Life Insurance Awareness Month this September, we are pleased to provide our valued distribution partners with email signature tags!

Reinforce the message that Life Insurance is less expensive than most Americans think1 while providing a fast, convenient place for recipients to click for more information by dropping these tags into your email signatures.

General Method
  1. Use your mouse to right click on the email tag you would like to use and select Copy
  2. Inside your email, below your signature, right click your mouse and select Paste.
Interested in more great resources for Life Insurance Awareness Month? Visit our Life Insurance Awareness Materials page or Life today!
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