Chris Wholehan, President Wholehan Marketing

For those of you who know me, you know I’m not the “biggest” fan of winter …. However, when it comes to business, this is one of the “most wonderful times of the year.”  The insurance business from January through May tends to be strong as clients focus on having their taxes done, and as a result often tend to review their overall financial plan with their advisor.  This season opens up many new conversations with clients who may have been putting off discussing topics such as:

  • RMD’s (Required Minimum Distributions) – back in effect in for 2022.  Concepts like reinvesting RMD’s into Life Insurance policies to help with estate/wealth transfer can have a dramatically positive impact on the overall financial plan.
  • Tax Deductions – What more can they do?  Premiums for Traditional Long-Term Care Insurance policies and certain portions of Hybrid LTCI policy premiums can be deducted in part or in whole by both individuals and businesses, adding to the overall positive impact LTCI policies make to the financial plan.
  • Tax Deferral – how can they pay less tax on their earnings?  Allocating a portion of the clients’ nest egg into Annuities not only reduces the overall risk of the portfolio, it shelters non-qualified funds from taxation while inside the policy.

Winter may be cold and gray in many parts of the country, but the season is red hot for productive conversations that help impact your clients’ financial plan in a positive way.  Contact the experts at Wholehan Marketing and let us help you put your clients’ financial plan in a summer state of mind.