Bill Black: New Strategies for Life Insurance in 2022

About Fun With Annuities Episode #127

Bill Black is a nationally recognized triathlete, 6’ 8” tall, and oh, by the way…the top life insurance expert in the country.  With over 44 years of experience, he is my go-to source for all things life insurance and who I recommend my clients talk to for this needed contractual solution.  As Bill says, one out of one of us will die, and life insurance is the best return on investment (ROI) you will never see because you are dead.  By the way, death is not a good overall investment strategy.  It’s a one-timer.

We jumped into the podcast, talking about how insurance is now being purchased and some of the mistakes people make when shopping.  If you think the annuity category is confusing, then the life insurance world makes that look like child’s play.  That’s why you need Bill Black, and I encourage you to him objectively look at any policies you currently own.  Why wouldn’t you let over four decades of experience go to work for you under no obligation?  No good answer to that one except to connect with Bill.

A huge topic that Bill covered is the new life insurance products that offer real long-term care coverage while providing a life insurance benefit. There are other contractual “whistles & bells” Bill explained that are also available.  If you don’t know about this, you need to know.  That’s what my Fun With Annuities podcast is all about.  Education without the garbage sales pitch.  Facts are the only thing allowed on my show.

In my opinion, every person should own life insurance or at least look at the new strategies that are now available.  Gone are the days of the local Rotary Club member trying to sell you a policy.  Life insurance is a consumer-friendly world that continually listens to the public to provide the best transfer of contractual risk solutions for your specific situation.  You now know who your new life insurance expert is.  His name is Bill Black!

"The percentage of the people that are going to need long term care is somewhere around 60-70%... long term care [is] you can't do two out of the six activities of daily living, you can't feed yourself, you can't bathe yourself, you can't transport yourself, you can't dress yourself." —  Bill Black

Brief Bio of Co-host: Bill Black

Bill Black is the President of W.H. Black and Company and has been in the pension administration business for over 40 years. He is also responsible for the marketing efforts of PensionSpecialist.net – a full-service pension administration company that helps advisors nationally with the sale and administration of qualified pension plans.

He is the best in the business, and as a qualifying member of the Million Dollar Round Table (MDRT) and an eighteen-time Top of the Table and Court of the Table qualifier, puts him amongst the world’s elite financial professionals for his ethics and best business practices. Therefore when it comes to questions about defined benefit plans, 401(k)s, cash balance pension plans, and profit-sharing plans, Bill is my guy.

His ability to break down complex ideas into easily understood concepts is the reason why he is a highly sought-after speaker, author and educator around the world. He also produces a great quarterly newsletter that breaks down the latest legislative and administrative issues regarding plan management.

In this episode, The Annuity Man® and Bill Black discuss:

• Who needs long-term care?
• Transferring wealth to your heirs tax-free
• Maximizing your death
• What good insurance companies do

Key Takeaways:

• If you live long enough where you aren’t able to feed, bathe, transport, or dress yourself anymore, you’re going to wish you had long-term care set in place.
• Long-term care benefit is tax-free, and so is the death benefit. You can set it up so that if you don’t spend the benefit or only spend some of it, the rest will go to your beneficiaries or heirs. Even if you don’t use it, your heirs will still benefit from it.
• Death is a one-time strategy, so maximize it. Get insurance so that when you go, you’ll cover your heirs with a tax-free transfer of wealth instead of leaving them a financial burden.
• Good insurance companies don’t take any money until they are ready to offer their policy to you. That way, there wouldn’t be any burden or pressure on the client. You’ll only pay whenever you decide you’re happy with the contract.

Fun With Annuities Podcast is hosted by America’s Annuity Agent®, Stan The Annuity Man®, and a Celebrity Co-Host. Hear facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Stan and his guests dive deep into topics such as annuities, finance, retirement, and so much more. It’s fun learning the facts and seeing if they’ll fit your personal retirement lifestyle. Thanks for being here!

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