In a recent newsletter, RMC Group discussed the topic of Living Benefits in life insurance policies.
Identifying Coverage Gap Issues
The term “coverage gaps” probably does not resonate if the consumer does not understand an insurance policy. The average consumer usually cannot remember the name of their homeowner’s insurance carrier, but almost always can remember the name of their auto insurance carrier. Why is that? Both policies are important to safeguarding assets and making sure that coverage on those contracts adequately protects the possessions that clients have worked so hard to purchase.
For years, life insurance was seen as an unpleasant topic, because the person paying the premiums generally derived no financial benefit from the policy. He had to die before a benefit would be paid. Today, however, insurance companies are offering policies that pay living benefits. While the primary purpose of life insurance remains safeguarding your family’s financial security in the event of your death, there are now policies that you can use while you are living.
Meet Shane Biltz, RMC's Vice President of New Business. Shane currently resides in Naples, Florida with his wife and dogs. He loves steak and hockey, but hates peanut butter and water. To learn more interesting facts about Shane, CLICK HERE.
As IRAs, 401(k) and other retirement plans become more popular, it is important for advisors to understand the rules regarding the distribution of plan assets after the death of the IRA owner or the employee. The timing of distributions from a qualified plan will depend upon whether the decedent has a “designated beneficiary” and may also depend upon whether the “designated beneficiary” is the decedent’s surviving spouse, children or a trust. Having a “designated beneficiary” may stretch out the period over which plan assets must be distributed; thereby allowi
Property and casualty insurers are predicting a substantial increase in 2018 insurance premiums; thanks to Hurricanes Harvey, Irma, and Maria, two earthquakes in Mexico, and the widespread devastation caused by the California wildfires. However, a business can mitigate the financial impact of these natural catastrophes by taking on some of its own risks through the use of a captive insurance company.
Meet Belinda Zivich, RMC's Vice President of Business Development. Belinda currently resides in Bonita Springs, Florida. She can't live without her family, she loves Filet Mignon and Lobster, and she's a big sports fan. To learn more fun facts about Belinda, CLICK HERE.
An employer that self-funds its medical benefits plan needs stop-loss insurance to protect it from larger than expected claims, whether for a single employee or its entire workforce. With stop-loss insurance, an employer will not be responsible for claims in excess of certain pre-set limits for the policy year. Once claims exceed these limits, the stop-loss carrier assumes the liability.
There are two types of stop-loss insurance:
Pensions have key dates for filing and disclosures that a plan trustee should be aware of. We have produced a printer friendly PDF version of the important 2018 Pension Dates to Remember.
CLICK HERE for a copy of the 2018 dates.
RMC Group offers a wide variety of HR consulting services. We understand that every business is different. So, our HR professionals will work with you and your clients to develop a customized HR package based on their needs. Among the HR services offered by RMC Group are the following: