Preserving Your Financial Legacy with Life Insurance Premium Financing.

Size: px
Start display at page:

Download "Preserving Your Financial Legacy with Life Insurance Premium Financing."

Transcription

1 Preservig Your Fiacial Legacy with Life Isurace Premium Fiacig. Prepared by: Keeth M. Fujita, Natioal Director, The Private Bak Specialty Fiace Group Life Isurace Premium Fiace. James Mosrie, Seior Wealth Plaer. I this white paper 1 The importace of life isurace i the plaig process 2 Why fiace your life isurace premiums? 3 Cosideratios of life isurace premium bak fiacig

2 Preservig Your Fiacial Legacy with Life Isurace Premium Fiacig For may high et worth idividuals, life isurace ca offer umerous beefits, icludig the potetial for a tax-free death beefit that ca protect their loved oes from bearig a large fiacial burde. This geerally favorable tax treatmet also meas life isurace ca be used for estate plaig or busiess successio plaig. However, life isurace policies with sizable premiums may create a liquidity issue of how to pay the high premiums required for these policies. Borrowig strategically, as part of your comprehesive wealth pla, ca alig with your fiacial goals, icludig optimizig your cash flows, maximizig tax efficiecies, ad realizig importat estate fiacial plaig goals. As such, life isurace premium fiacig is a example of a powerful way to use credit i the wealth plaig process. Bak fiacig to fud your life isurace premiums may provide a tax-efficiet optio that allows you to preserve your curret cash flow, avoid liquidatig your ivestmets, ad leverage your wealth to provide future beefit to your heirs or charitable causes. Implemetig a suitable premium fiace credit structure i a low iterest rate eviromet also may preset sigificat opportuities to lock i iterest rates, up to 10 years i some cases. The importace of life isurace i the plaig process. Life isurace is cetral to your wealth pla, as it may provide peace of mid to you ad your family i kowig that you have plaed for the uexpected ad have protected the future of those whom you most love. Whe properly desiged, life isurace ca be effective i addressig four critical wealth maagemet objectives: wealth protectio, liquidity, wealth accumulatio, ad wealth trasfer. Life isurace ca be used as a plaig tool to achieve your goals ad objectives i a tax efficiet maer. I evaluatig the eed for life isurace, it is importat to cosider your fiacial goals ad objectives i the cotext of your overall wealth pla. A large life isurace policy that meets your fiacial objectives will ofte ecessitate large premiums ad require a paymet strategy to help you stay o track with your fiacial goals. A policy ower ca utilize various strategies, icludig combiatios thereof, for fudig life isurace premiums, as refereced i Table 1. Table 1. Gift Led Borrow Pay Gift Taxes As You Go Grator Loa Bak Fiacig Write the check Clea ad simple : Gift tax is owed based upo ay amout applied towards life isurace premium No iterest rate risk Predictable cash flow Heirs receive 100% of the life isurace death beefit proceeds if properly structured Source: Wells Fargo Private Bak Make aual loas to a trust to cover the premium plus the aual iterest o the loa Gift taxes may apply to additioal iterest paymets Loa iterest is based upo Applicable Federal Rate (AFR) Iterest rate risk: Ca t lock i low loa rate because this is a aual trasactio Giftig occurs every year because iterest is beig paid every year Sigle ( bullet ) loa sceario ca mitigate iterest rate risk Upredictable cash flow Works well with Retur of Premium (ROP) feature of life isurace Borrow fuds aually from ledig istitutio Iterest may be paid as accrued with proper structure Iterest rates based upo LIBOR or other rate plus a spread Borrower must qualify for the loa ad ofte re-qualify from time to time Cash value products ca help with issues regardig collateral requiremets Fixed rate hedgig solutios available Preservig Your Fiacial Legacy with Life Isurace Premium Fiacig 1

3 How Life Isurace Premium Fiacig Works Whe arraged properly, life isurace premium fiacig ca be a valuable fudig alterative for your estate pla. Grator establishes a irrevocable life isurace trust (ILIT) after makig iquiries to determie if fiacig ca be obtaied o a favorable basis. Trustee of ILIT applies for isurace o behalf of the grator ad/or the spouse. Grator trasfers supplemetal collateral to leder. Grator ca retai cotrol over ivestmet philosophy ad maager selectio. 1 Grator 2 Net proceeds are distributed per the terms of the ILIT. Irrevocable Life Isurace Trust 5 Leder advaces fuds to ILIT as eeded to pay aual premiums ad possibly to cover iterest o the loa. The trustee pledges the policy as primary collateral for the loa. 4 Isurace carrier repays pricipal ad iterest, if applicable, to leder from policy proceeds at the death of the isured. 3 Leder Beeficiaries Source: Wells Fargo Private Bak Why fiace your life isurace premiums? Life isurace premium fiacig is a viable alterative to cosider after thoroughly explorig the three optios outlied i Table 1. Implemetig a strategy to secure bak fiacig may be quite useful by allowig you to borrow fuds to pay your life isurace premiums with the uderlyig policy value servig as collateral for the loa. A life isurace premium fiacig strategy ca help preserve your curret stadard of livig sice you do t eed to access your cash flow to make large premium paymets. It also may allow you to avoid liquidatig ivestmets ad related capital gais tax cosequeces i order to fud those paymets. Additioally, life isurace premium fiacig may provide a tax-free beefit that is ot icluded i your estate ad further help protect your et worth by facilitatig the trasitio of your fiacial legacy to future geeratios. It may also provide a secodary positive arbitrage betwee the earigs creditig rate o the cash value growth ad the carryig cost of the loa. Whe positioed properly, it may be possible to experiece accelerated equity buildup with the isurace policy over time, resultig i greater sustaiability ad ultimately greater future ecoomic beefits to your beeficiaries. Before makig a fudig decisio about life isurace premiums, you should discuss the optios available to you with your wealth advisory team ad tax ad legal advisors. A fial decisio about the fudig optio for life isurace will require evaluatio of your specific fiacial circumstaces ad eeds. 2 Preservig Your Fiacial Legacy with Life Isurace Premium Fiacig

4 Cosideratios of life isurace premium bak fiacig. As with ay borrowig strategy, there are risks associated with life isurace premium fiacig. We ecourage you to discuss these issues with your advisors before you make ay decisios: There is a iterest rate risk assumed by the policy ower if the iterest rates o the bak loa are higher tha iitially projected after the iitial fixed rate period. As metioed earlier, iterest o the loas may be based o Applicable Federal Rates (iterest rates published mothly by the IRS for federal icome tax purposes) or LIBOR (Lodo Iterbak Offered Rate). There may be a eed for additioal collateral if the policy s cash values are lower tha iitially projected due to poor policy performace. Additioal gifts may be eeded to provide capital to the trust to fud uexpected higher iterest paymets ad/or premium paymets. Aual moitorig of the policy ad the premium fiacig is strogly ecouraged to make sure that the trasactio is still meetig the policy ower s eeds ad that adjustmets are made as eeded. Similarly, it s importat to evaluate the life isurace policy regularly to make sure that the policy still fits the strategy of fiacig the premiums. It s crucial to have a discussio with your wealth advisory team ad tax advisors about exit strategies ad how you will repay the loa: You ca fud the trust to pay off the loa. The trustee may use the cash surreder value to pre-pay the loa i whole or i part. It may also be possible to combie your borrowig strategy with your charitable givig iitiatives through a charitable trust. You ca refiace the loa. Is life isurace premium fiacig right for you? As you see i the example, Joh fits a typical profile of someoe who may beefit from fiacig his life isurace premiums. Joh has substatial et worth ad persoal liquidity, but also sees a eed for life isurace as part of his estate pla. Give his large life isurace policy, he has sigificat life isurace premiums that are required o a structured paymet timelie. Joh is iterested i obtaiig a tax-efficiet rate of retur while also uderstadig the associated risks i fiacig his life isurace premiums. Example of a idividual profile ad the use of life isurace premium fiacig. Joh is the retired chief fiacial officer of a large U.S.-based publicly traded pharmaceutical compay. Joh has a strog desire to protect his fiacial legacy ad is cocered about how to preserve his family s liquidity agaist future estate tax exposure. Joh has exhausted his lifetime gift tax exemptio, but is seekig advice o a tax-efficiet wealth trasfer solutio. Workig closely with his family s estate plaig attorey, his wealth plaig, bakig, ad isurace advisors developed a log-term liquidity solutio by creatig a Irrevocable Life Isurace Trust (ILIT) to hold three life isurace policies. Sice Joh has exhausted all of his gift tax exemptio, if the ILIT were to self fud the aual premiums o the policies from cotributios made by Joh, each of those cotributios would be subject to gift taxes. To mitigate future gift tax exposure, Joh s wealth team recommeded a custom o-recourse (to mitigate potetial icidece of owership) premium fiace credit facility to fud the aual premiums due o the life isurace policies. The loa will accrue iterest i order to mitigate ay gift tax exposure o future cotributios to the ILIT ad the et isurace death beefit will ot be icluded i Joh s gross taxable estate. By thoughtfully evaluatig Joh s fiacial circumstaces ad uderstadig his goals, Joh s wealth advisors were able to suggest a solutio that solved a family plaig issue, potetially savig Joh ad his family millios of dollars i future estate taxes. Source: Wells Fargo Private Bak Coclusio. A life isurace premium fiacig strategy may provide a uique solutio for high et worth idividuals who are seekig a tax-efficiet way to preserve their fiacial legacy. I order to successfully implemet this wealth trasfer solutio as part of your overall wealth pla, it is importat that you egage your team of wealth ad tax advisors. Give the complexities with this solutio, you should have a thorough uderstadig of life isurace premium fiacig. Your bakig advisor ad the Private Bak Specialty Fiace ca provide ogoig moitorig of aspects such as aual life isurace policy reviews ad collateral moitorig. By workig closely with a competet ad experieced advisory team, you will be well positioed to make a soud decisio to determie if fiacig your life isurace premiums is the appropriate optio for you as part of your pla to preserve ad trasitio your wealth to the ext geeratio. Preservig Your Fiacial Legacy with Life Isurace Premium Fiacig 3

5 Disclosures. Wells Fargo Private Bak provides products ad services through Wells Fargo Bak, N.A. ad its various affiliates ad subsidiaries. The iformatio ad opiios i this report were prepared by Wells Fargo Private Bak. Iformatio ad opiios have bee obtaied or derived from sources we cosider reliable, but we caot guaratee their accuracy or completeess. Opiios represet Wells Fargo Private Bak s opiio as of the date of this report ad are for geeral iformatio purposes oly. Wells Fargo Private Bak does ot udertake to advise you of ay chage i its opiios or the iformatio cotaied i this report. Wells Fargo & Compay affiliates may issue reports or have opiios that are icosistet with, ad reach differet coclusios from, this report. This iformatio is for educatioal purposes oly ad should ot be used or costrued as fiacial advice, a offer to sell, a solicitatio, of a offer to buy, or a recommedatio for ay security. Wells Fargo does ot guaratee that the iformatio supplied is complete or timely, udertake to advise you of ay chage i its opiio, or make ay guaratees of future results obtaied from its use. Wells Fargo & Compay affiliates may issue reports or have opiios that are icosistet with, ad reach differet coclusios from, this report. Wells Fargo & Compay ad its affiliates do ot provide legal advice. Please cosult your legal advisors to determie how this iformatio may apply to your ow situatio. Whether ay plaed tax result is realized by you depeds o the specific facts of your ow situatio at the time your taxes are prepared. All loas are subject to credit approval. Isurace products are offered through Wells Fargo & Compay affiliated o-bak isurace agecies. Wells Fargo will ot serve as Trustee of a Irrevocable Life Isurace Trust if the loa is uderwritte by Wells Fargo Bak, N.A. Nomiatios of Wells Fargo to serve as trustee of a Irrevocable Life Isurace Trust are subject to pre-acceptace review by Wells Fargo. This report is ot a offer to buy or sell, or a solicitatio of a offer to buy or sell the strategies metioed. The strategies discussed or recommeded i this report may be usuitable for some cliets depedig o their specific objectives ad fiacial positio Wells Fargo & Compay. All rights reserved. Member FDIC. NMLSR ID TPB01420 ( /13)

Enhance Your Financial Legacy Variable Annuity Death Benefits from Pacific Life

Enhance Your Financial Legacy Variable Annuity Death Benefits from Pacific Life Ehace Your Fiacial Legacy Variable Auity Death Beefits from Pacific Life 7/15 20172-15B As You Pla for Retiremet, Protect Your Loved Oes A Pacific Life variable auity ca offer three death beefits that

More information

Death Beefits from Pacific Life

Death Beefits from Pacific Life Ehace Your Fiacial Legacy Variable Auities with Death Beefits from Pacific Life 9/15 20188-15C FOR CALIFORNIA As You Pla for Retiremet, Protect Your Loved Oes A Pacific Life variable auity ca offer three

More information

TIAA-CREF Wealth Management. Personalized, objective financial advice for every stage of life

TIAA-CREF Wealth Management. Personalized, objective financial advice for every stage of life TIAA-CREF Wealth Maagemet Persoalized, objective fiacial advice for every stage of life A persoalized team approach for a trusted lifelog relatioship No matter who you are, you ca t be a expert i all aspects

More information

How to use what you OWN to reduce what you OWE

How to use what you OWN to reduce what you OWE How to use what you OWN to reduce what you OWE Maulife Oe A Overview Most Caadias maage their fiaces by doig two thigs: 1. Depositig their icome ad other short-term assets ito chequig ad savigs accouts.

More information

Graceful Exits: Six Steps for Successful Business Exit Planning.

Graceful Exits: Six Steps for Successful Business Exit Planning. Graceful Exits: Six Steps for Successful Busiess Exit Plaig. Prepared by: Robi Love, Maagig Director, M&A Advisory, Busiess Advisory Services. Tim Morriso, Seior Busiess Appraiser, Busiess Advisory Services.

More information

Grow your business with savings and debt management solutions

Grow your business with savings and debt management solutions Grow your busiess with savigs ad debt maagemet solutios A few great reasos to provide bak ad trust products to your cliets You have the expertise to help your cliets get the best rates ad most competitive

More information

WHAT IS YOUR PRIORITY?

WHAT IS YOUR PRIORITY? MOVE AHEAD The uderlyig priciples of soud ivestmet should ot alter from decade to decade, but the applicatio of these priciples must be adapted to sigificat chages i the fiacial mechaisms ad climate. BENJAMIN

More information

DC College Savings Plan Helping Children Reach a Higher Potential

DC College Savings Plan Helping Children Reach a Higher Potential 529 DC College Savigs Pla Helpig Childre Reach a Higher Potetial reach Sposored by Govermet of the District of Columbia Office of the Mayor Office of the Chief Fiacial Officer Office of Fiace ad Treasury

More information

Trusteed IRAs. Integrate and simplify your retirement and estate plans

Trusteed IRAs. Integrate and simplify your retirement and estate plans Trusteed IRAs Itegrate ad simplify your retiremet ad estate plas Trusteed IRAs from Merrill Lych Trust Compay To create the legacy of your dreams, you may eed more tha a Idividual Retiremet Accout ad a

More information

Introducing Your New Wells Fargo Trust and Investment Statement. Your Account Information Simply Stated.

Introducing Your New Wells Fargo Trust and Investment Statement. Your Account Information Simply Stated. Itroducig Your New Wells Fargo Trust ad Ivestmet Statemet. Your Accout Iformatio Simply Stated. We are pleased to itroduce your ew easy-to-read statemet. It provides a overview of your accout ad a complete

More information

Savings and Retirement Benefits

Savings and Retirement Benefits 60 Baltimore Couty Public Schools offers you several ways to begi savig moey through payroll deductios. Defied Beefit Pesio Pla Tax Sheltered Auities ad Custodial Accouts Defied Beefit Pesio Pla Did you

More information

TIAA-CREF WEALTH MANAGEMENT A HIGHLY PERSONALIZED, SOPHISTICATED SERVICE DESIGNED TO MATCH ONE OBJECTIVE: YOURS

TIAA-CREF WEALTH MANAGEMENT A HIGHLY PERSONALIZED, SOPHISTICATED SERVICE DESIGNED TO MATCH ONE OBJECTIVE: YOURS TIAA-CREF WEALTH MANAGEMENT A HIGHLY PERSONALIZED, SOPHISTICATED SERVICE DESIGNED TO MATCH ONE OBJECTIVE: YOURS TIAA-CREF: FINANCIAL SERVICES FOR THE GREATER GOOD. OUR HISTORY We are TIAA-CREF. A full-service

More information

Two people, one policy. Affordable long-term care coverage for both.

Two people, one policy. Affordable long-term care coverage for both. Log-term care rider, available o Natiowide YourLife No-Lapse Guaratee SUL II Feature guide LIFE INSURANCE + LONG-ERM CARE wo people, oe policy. Affordable log-term care coverage for both. NAIONWIDE LIFE

More information

Life Insurance: Your Blueprint for Wealth Transfer Planning. Producer Guide to Private Split Dollar Arrangements. Your future. Made easier.

Life Insurance: Your Blueprint for Wealth Transfer Planning. Producer Guide to Private Split Dollar Arrangements. Your future. Made easier. Life Isurace: Your Blueprit for Wealth Trasfer Plaig Producer Guide to Private Split Dollar Arragemets These materials are ot iteded to be used to avoid tax pealties ad were prepared to support the promotio

More information

Gatory Charitable Lead Trust (CLAT)

Gatory Charitable Lead Trust (CLAT) Types of Trusts: A Overview This guide provides a overview of seve types of trusts, while also reviewig their advatages ad disadvatages for differet types of ivestors Table of Cotets Charitable Lead Trusts...

More information

LEASE-PURCHASE DECISION

LEASE-PURCHASE DECISION Public Procuremet Practice STANDARD The decisio to lease or purchase should be cosidered o a case-by case evaluatio of comparative costs ad other factors. 1 Procuremet should coduct a cost/ beefit aalysis

More information

Information about Bankruptcy

Information about Bankruptcy Iformatio about Bakruptcy Isolvecy Service of Irelad Seirbhís Dócmhaieachta a héirea Isolvecy Service of Irelad Seirbhís Dócmhaieachta a héirea What is the? The Isolvecy Service of Irelad () is a idepedet

More information

Investing in Stocks WHAT ARE THE DIFFERENT CLASSIFICATIONS OF STOCKS? WHY INVEST IN STOCKS? CAN YOU LOSE MONEY?

Investing in Stocks WHAT ARE THE DIFFERENT CLASSIFICATIONS OF STOCKS? WHY INVEST IN STOCKS? CAN YOU LOSE MONEY? Ivestig i Stocks Ivestig i Stocks Busiesses sell shares of stock to ivestors as a way to raise moey to fiace expasio, pay off debt ad provide operatig capital. Ecoomic coditios: Employmet, iflatio, ivetory

More information

How To Get A Kukandruk Studetfiace

How To Get A Kukandruk Studetfiace Curret Year Icome Assessmet Form Academic Year 2015/16 Persoal details Perso 1 Your Customer Referece Number Your Customer Referece Number Name Name Date of birth Address / / Date of birth / / Address

More information

Create Income for Your Retirement. What You Can Expect. What to Consider. Page 1 of 7

Create Income for Your Retirement. What You Can Expect. What to Consider. Page 1 of 7 Page 1 of 7 RBC Retiremet Icome Plaig Process Create Icome for Your Retiremet At RBC Wealth Maagemet, we believe maagig your wealth to produce a icome durig retiremet is fudametally differet from maagig

More information

A GUIDE TO BUILDING SMART BUSINESS CREDIT

A GUIDE TO BUILDING SMART BUSINESS CREDIT A GUIDE TO BUILDING SMART BUSINESS CREDIT Establishig busiess credit ca be the key to growig your compay DID YOU KNOW? Busiess Credit ca help grow your busiess Soud paymet practices are key to a solid

More information

WE KEEP GOOD COMPANY REVITALIZING STORES FOR BIG BRAND FRANCHISES CFG. Recapitalization. Growth Capital CAROLINA FINANCIAL GROUP

WE KEEP GOOD COMPANY REVITALIZING STORES FOR BIG BRAND FRANCHISES CFG. Recapitalization. Growth Capital CAROLINA FINANCIAL GROUP REVITALIZING STORES FOR BIG BRAND FRANCHISES Recapitalizatio Frachise ad Restaurats Growth Capital I ve spet my career buildig valuable restaurat frachises for some of the top QSR brads i America. We eeded

More information

5.4 Amortization. Question 1: How do you find the present value of an annuity? Question 2: How is a loan amortized?

5.4 Amortization. Question 1: How do you find the present value of an annuity? Question 2: How is a loan amortized? 5.4 Amortizatio Questio 1: How do you fid the preset value of a auity? Questio 2: How is a loa amortized? Questio 3: How do you make a amortizatio table? Oe of the most commo fiacial istrumets a perso

More information

INVESTMENT PERFORMANCE COUNCIL (IPC) Guidance Statement on Calculation Methodology

INVESTMENT PERFORMANCE COUNCIL (IPC) Guidance Statement on Calculation Methodology Adoptio Date: 4 March 2004 Effective Date: 1 Jue 2004 Retroactive Applicatio: No Public Commet Period: Aug Nov 2002 INVESTMENT PERFORMANCE COUNCIL (IPC) Preface Guidace Statemet o Calculatio Methodology

More information

Methods for Optimizing GRATs

Methods for Optimizing GRATs A ceter of excellece buildig bridges from thought to actio, creatig practical, applicable strategies to help beefit you ad your family I the Hawthor Istitute white paper A Overview of GRATs, we review

More information

My first gold holdings. My first bank. Simple. Transparent. Individual. Our investment solutions for clients abroad.

My first gold holdings. My first bank. Simple. Transparent. Individual. Our investment solutions for clients abroad. My first gold holdigs. My first bak. Simple. Trasparet. Idividual. Our ivestmet solutios for cliets abroad. The perfect basis for workig together successfully The wheel of time is turig faster tha ever

More information

An Overview of GRATs as a Wealth Transfer Tool

An Overview of GRATs as a Wealth Transfer Tool A Overview of GRATs as a Wealth Trasfer Tool A ceter of excellece buildig bridges from thought to actio, creatig practical, applicable strategies to help beefit you ad your family A Grator Retaied Auity

More information

Comparing Credit Card Finance Charges

Comparing Credit Card Finance Charges Comparig Credit Card Fiace Charges Comparig Credit Card Fiace Charges Decidig if a particular credit card is right for you ivolves uderstadig what it costs ad what it offers you i retur. To determie how

More information

Health and dental coverage that begins when your group health benefits end

Health and dental coverage that begins when your group health benefits end Health ad detal coverage that begis whe your group health beefits ed Uderwritte by The Maufacturers Life Isurace Compay Page 1 of 5 FollowMeTM Health ca be your solutio. Life is full of chages. Some are

More information

RISK TRANSFER FOR DESIGN-BUILD TEAMS

RISK TRANSFER FOR DESIGN-BUILD TEAMS WILLIS CONSTRUCTION PRACTICE I-BEAM Jauary 2010 www.willis.com RISK TRANSFER FOR DESIGN-BUILD TEAMS Desig-builD work is icreasig each quarter. cosequetly, we are fieldig more iquiries from cliets regardig

More information

Assessment of the Board

Assessment of the Board Audit Committee Istitute Sposored by KPMG Assessmet of the Board Whe usig a facilitator, care eeds to be take if the idividual is i some way coflicted due to the closeess of their relatioship with the

More information

For customers Key features of the Guaranteed Pension Annuity

For customers Key features of the Guaranteed Pension Annuity For customers Key features of the Guarateed Pesio Auity The Fiacial Coduct Authority is a fiacial services regulator. It requires us, Aego, to give you this importat iformatio to help you to decide whether

More information

France caters to innovative companies and offers the best research tax credit in Europe

France caters to innovative companies and offers the best research tax credit in Europe 1/5 The Frech Govermet has three objectives : > improve Frace s fiscal competitiveess > cosolidate R&D activities > make Frace a attractive coutry for iovatio Tax icetives have become a key elemet of public

More information

Amendments to employer debt Regulations

Amendments to employer debt Regulations March 2008 Pesios Legal Alert Amedmets to employer debt Regulatios The Govermet has at last issued Regulatios which will amed the law as to employer debts uder s75 Pesios Act 1995. The amedig Regulatios

More information

About our services and costs

About our services and costs About our services ad costs Cotets Whose products do we offer 2 Ivestmet 2 Isurace 2 Mortgages 2 Which services will we provide you with? 3 Ivestmet 3 Isurace 3 Mortgages 3 What will you have to pay us

More information

I apply to subscribe for a Stocks & Shares ISA for the tax year 20 /20 and each subsequent year until further notice.

I apply to subscribe for a Stocks & Shares ISA for the tax year 20 /20 and each subsequent year until further notice. IFSL Brooks Macdoald Fud Stocks & Shares ISA Trasfer Applicatio Form IFSL Brooks Macdoald Fud Stocks & Shares ISA Trasfer Applicatio Form Please complete usig BLOCK CAPITALS ad retur the completed form

More information

Retirement By the Numbers

Retirement By the Numbers Retiremet By the Numbers Fiacial priorities may vary depedig o your age, but every perso wats a successful retiremet. This workbook ca help you estimate your retiremet eeds ad explai the optios available

More information

How To Find FINANCING For Your Business

How To Find FINANCING For Your Business How To Fid FINANCING For Your Busiess Oe of the most difficult tasks faced by the maagemet team of small busiesses today is fidig adequate fiacig for curret operatios i order to support ew ad ogoig cotracts.

More information

PENSION ANNUITY. Policy Conditions Document reference: PPAS1(7) This is an important document. Please keep it in a safe place.

PENSION ANNUITY. Policy Conditions Document reference: PPAS1(7) This is an important document. Please keep it in a safe place. PENSION ANNUITY Policy Coditios Documet referece: PPAS1(7) This is a importat documet. Please keep it i a safe place. Pesio Auity Policy Coditios Welcome to LV=, ad thak you for choosig our Pesio Auity.

More information

INVESTMENT PERFORMANCE COUNCIL (IPC)

INVESTMENT PERFORMANCE COUNCIL (IPC) INVESTMENT PEFOMANCE COUNCIL (IPC) INVITATION TO COMMENT: Global Ivestmet Performace Stadards (GIPS ) Guidace Statemet o Calculatio Methodology The Associatio for Ivestmet Maagemet ad esearch (AIM) seeks

More information

Strength You Can Trust. There s Wealth in Our Approach.

Strength You Can Trust. There s Wealth in Our Approach. Stregth You Ca Trust There s Wealth i Our Approach. About RBC Royal Bak of Caada (RBC) is oe of the world s leadig diversified fiacial services compaies. Oe that is distiguished by a log heritage of fiacial

More information

Financial. Services Guide. Adviser: Graeme Hood CD, Dip FP, CFP Date of Preparation: 21/11/2005. Head Office Address:

Financial. Services Guide. Adviser: Graeme Hood CD, Dip FP, CFP Date of Preparation: 21/11/2005. Head Office Address: Fiacial Services Guide Adviser: Graeme Hood CD, Dip FP, CFP Date of Preparatio: 21/11/2005 Head Office Address: Fiacial Wisdom Limited (ABN 70 006 646 108) Australia Fiacial Services Licece No. 231138

More information

Eckart Wealth Management Group

Eckart Wealth Management Group Eckart Wealth Maagemet Group A broad rage of capabilities desiged to build ad erich your fiacial life. ADVICE AND GUIDANCE RETIREMENT BANKING SOLUTIONS FOR BUSINESS TRACKING PROGRESS CREDIT AND LENDING

More information

FM4 CREDIT AND BORROWING

FM4 CREDIT AND BORROWING FM4 CREDIT AND BORROWING Whe you purchase big ticket items such as cars, boats, televisios ad the like, retailers ad fiacial istitutios have various terms ad coditios that are implemeted for the cosumer

More information

Impact your future. Make plans with good advice from ACT. Get Set for College 1. THINK 2. CONSIDER 3. COMPARE 4. APPLY 5. PLAN 6.

Impact your future. Make plans with good advice from ACT. Get Set for College 1. THINK 2. CONSIDER 3. COMPARE 4. APPLY 5. PLAN 6. Impact your future Get Set for College 1. THINK 2. CONSIDER 3. COMPARE 4. APPLY 5. PLAN 6. DECIDE Make plas with good advice from ACT. 1. Thik Thik about yourself ad your college eeds Do you start thigs

More information

I apply to subscribe for a Stocks & Shares NISA for the tax year 2015/2016 and each subsequent year until further notice.

I apply to subscribe for a Stocks & Shares NISA for the tax year 2015/2016 and each subsequent year until further notice. IFSL Brooks Macdoald Fud Stocks & Shares NISA trasfer applicatio form IFSL Brooks Macdoald Fud Stocks & Shares NISA trasfer applicatio form Please complete usig BLOCK CAPITALS ad retur the completed form

More information

CHAPTER 3 THE TIME VALUE OF MONEY

CHAPTER 3 THE TIME VALUE OF MONEY CHAPTER 3 THE TIME VALUE OF MONEY OVERVIEW A dollar i the had today is worth more tha a dollar to be received i the future because, if you had it ow, you could ivest that dollar ad ear iterest. Of all

More information

FI A CIAL MATHEMATICS

FI A CIAL MATHEMATICS CHAPTER 7 FI A CIAL MATHEMATICS Page Cotets 7.1 Compoud Value 117 7.2 Compoud Value of a Auity 118 7.3 Sikig Fuds 119 7.4 Preset Value 122 7.5 Preset Value of a Auity 122 7.6 Term Loas ad Amortizatio 123

More information

rs e n i n Discuss various financial products for savers and nvestors Understand various types of personalities and their financial needs

rs e n i n Discuss various financial products for savers and nvestors Understand various types of personalities and their financial needs e-learig ad referece solutios for the global fiace professioal Fiacial Plaig A comprehesive e-learig co u rs e o Fi acial P la i g The themes of this product are: Kow basic cocepts i fiacial plaig Discuss

More information

Statement of cash flows

Statement of cash flows 6 Statemet of cash flows this chapter covers... I this chapter we study the statemet of cash flows, which liks profit from the statemet of profit or loss ad other comprehesive icome with chages i assets

More information

Subject CT5 Contingencies Core Technical Syllabus

Subject CT5 Contingencies Core Technical Syllabus Subject CT5 Cotigecies Core Techical Syllabus for the 2015 exams 1 Jue 2014 Aim The aim of the Cotigecies subject is to provide a groudig i the mathematical techiques which ca be used to model ad value

More information

PRICE BAILEY CHARITIES & NOT FOR PROFIT THE RIGHT ADVICE FOR LIFE

PRICE BAILEY CHARITIES & NOT FOR PROFIT THE RIGHT ADVICE FOR LIFE PRICE BAILEY CHARITIES & NOT FOR PROFIT THE RIGHT ADVICE FOR LIFE OUR EXPERTISE To arrage a meetig with a member of for more iformatio about Price Bailey, At Price Bailey, we recogise that charity ad ot-for-profit

More information

Choosing a Mortgage FIXED-RATE MORTGAGES. ADJUSTABLE-RATE MORTGAGES (ARMs)

Choosing a Mortgage FIXED-RATE MORTGAGES. ADJUSTABLE-RATE MORTGAGES (ARMs) Choosig A Mortgage Like homes, home mortgages come i all shapes ad sizes: short-term, log-term, fixed, adjustable, jumbo, balloo these are all terms that will soo be familiar to you, if they re ot already.

More information

Wells Fargo Insurance Services Claim Consulting Capabilities

Wells Fargo Insurance Services Claim Consulting Capabilities Wells Fargo Isurace Services Claim Cosultig Capabilities Claim Cosultig Claims are a uwelcome part of America busiess. I a recet survey coducted by Fulbright & Jaworski L.L.P., large U.S. compaies face

More information

MainStay Funds IRA/SEP/Roth IRA Distribution Form

MainStay Funds IRA/SEP/Roth IRA Distribution Form MaiStay Fuds IRA/SEP/Roth IRA Distributio Form Do ot use for IRA Trasfers or SIMPLE IRA INSTRUCTIONS Before completig this form, please refer to the applicable Custodial Agreemet ad Disclosure Statemet

More information

FIRE PROTECTION SYSTEM INSPECTION, TESTING AND MAINTENANCE PROGRAMS

FIRE PROTECTION SYSTEM INSPECTION, TESTING AND MAINTENANCE PROGRAMS STRATEGIC OUTCOMES PRACTICE TECHNICAL ADVISORY BULLETIN February 2011 FIRE PROTECTION SYSTEM INSPECTION, TESTING AND MAINTENANCE PROGRAMS www.willis.com Natioal Fire Protectio Associatio (NFPA) #25 a mai

More information

INVESTING IN SOCIAL CHANGE TOOLS FOR SOCIAL INNOVATION

INVESTING IN SOCIAL CHANGE TOOLS FOR SOCIAL INNOVATION INVESTING IN SOCIAL CHANGE TOOLS FOR SOCIAL INNOVATION At Tides, we have bee workig for more tha 30 years with people like you to make the world a better place. Our missio is to parter with activists,

More information

Investment & Portfolio Strategy

Investment & Portfolio Strategy Ivestmet & Portfolio Strategy Jauary 2014 Five Keys to a Successful Retiremet Thikig about retiremet is o loger a future evet or viewed as optioal for may Americas. Most recogize the eed for careful plaig

More information

New job at the Japanese company, would like to know about the health insurance. What's the process to apply for the insurance?

New job at the Japanese company, would like to know about the health insurance. What's the process to apply for the insurance? Cabiet ねん かせんぶ ねん しゅが かせんぶ じてん しゅうせい 8-4-2 (2008 年 下 線 部 &2009 年 朱 書 き 下 線 部 時 点 修 正 ) Level 3 Chapter Illess Sectio Public health isurace Cotets Health isurace 1 Possible questio ad backgroud. New job

More information

BENEFIT-COST ANALYSIS Financial and Economic Appraisal using Spreadsheets

BENEFIT-COST ANALYSIS Financial and Economic Appraisal using Spreadsheets BENEIT-CST ANALYSIS iacial ad Ecoomic Appraisal usig Spreadsheets Ch. 2: Ivestmet Appraisal - Priciples Harry Campbell & Richard Brow School of Ecoomics The Uiversity of Queeslad Review of basic cocepts

More information

D RIVING F INANCIAL G ROWTH S INCE 1876 TM

D RIVING F INANCIAL G ROWTH S INCE 1876 TM FINANCIAL SERVICES D RIVING F INANCIAL G ROWTH S INCE 1876 TM Idepedet Brokerage & Advisory Services Asset Maagemet Ivestmet Bakig Equity Research Istitutioal Sales & Tradig YOUR PARTNER for FINANCIAL

More information

How to read A Mutual Fund shareholder report

How to read A Mutual Fund shareholder report Ivestor BulletI How to read A Mutual Fud shareholder report The SEC s Office of Ivestor Educatio ad Advocacy is issuig this Ivestor Bulleti to educate idividual ivestors about mutual fud shareholder reports.

More information

WHERE CHANGE IS POSSIBLE

WHERE CHANGE IS POSSIBLE WHERE CHANGE IS POSSIBLE gree workspaces AT TIDES, WE HAVE BEEN WORKING WITH PEOPLE LIKE YOU FOR MORE THAN 30 YEARS TO MAKE THE WORLD A BETTER PLACE. Our missio is to parter with philathropists, foudatios,

More information

Swaps: Constant maturity swaps (CMS) and constant maturity. Treasury (CMT) swaps

Swaps: Constant maturity swaps (CMS) and constant maturity. Treasury (CMT) swaps Swaps: Costat maturity swaps (CMS) ad costat maturity reasury (CM) swaps A Costat Maturity Swap (CMS) swap is a swap where oe of the legs pays (respectively receives) a swap rate of a fixed maturity, while

More information

Full Lifecycle Project Cost Controls

Full Lifecycle Project Cost Controls Full Lifecycle Project Cost Cotrols EcoSys EPC is a ext geeratio plaig ad cost cotrols software solutio deliverig best practices for full lifecycle project cost maagemet i a itegrated, easy-to-use web

More information

where: T = number of years of cash flow in investment's life n = the year in which the cash flow X n i = IRR = the internal rate of return

where: T = number of years of cash flow in investment's life n = the year in which the cash flow X n i = IRR = the internal rate of return EVALUATING ALTERNATIVE CAPITAL INVESTMENT PROGRAMS By Ke D. Duft, Extesio Ecoomist I the March 98 issue of this publicatio we reviewed the procedure by which a capital ivestmet project was assessed. The

More information

Indexed Survivor Universal Life. Agent product guide 15887 7/10

Indexed Survivor Universal Life. Agent product guide 15887 7/10 Idexed Survivor Uiversal Life Aget product guide 15887 7/10 Idexed Survivor Uiversal Life is a flexible premium survivor uiversal life isurace policy with a idex-liked iterest creditig feature. Buildig

More information

How deductible plans work

How deductible plans work Idividual ad Family Plas DEDUCTIBLE PLANS How deductible plas work Deductible plas geerally offer lower mothly premiums i exchage for payig more out of your ow pocket for services covered by your health

More information

Audit of Assumptions for the March 2001 Budget. REPORT BY THE COMPTROLLER AND AUDITOR GENERAL HC 304 Session 2000 2001: 7 March 2001

Audit of Assumptions for the March 2001 Budget. REPORT BY THE COMPTROLLER AND AUDITOR GENERAL HC 304 Session 2000 2001: 7 March 2001 Audit of Assumptios for the March 2001 Budget REPORT BY THE COMPTROLLER AND AUDITOR GENERAL HC 304 Sessio 2000 2001: 7 March 2001 Audit of Assumptios for the March 2001 Budget REPORT BY THE COMPTROLLER

More information

Making training work for your business

Making training work for your business Makig traiig work for your busiess Itegratig core skills of laguage, literacy ad umeracy ito geeral workplace traiig makes sese. The iformatio i this pamphlet will help you pla for ad build a successful

More information

Retiree Life Solutions

Retiree Life Solutions A Leader i Employee Beefits Solutios Retiree Life Solutios Prudetial Group Isurace The Prudetial Isurace Compay of America 0237531 Results-Drive Solutios From a Name You Kow ad Trust Sice 1875, the Prudetial

More information

Learning objectives. Duc K. Nguyen - Corporate Finance 21/10/2014

Learning objectives. Duc K. Nguyen - Corporate Finance 21/10/2014 1 Lecture 3 Time Value of Moey ad Project Valuatio The timelie Three rules of time travels NPV of a stream of cash flows Perpetuities, auities ad other special cases Learig objectives 2 Uderstad the time-value

More information

Question 2: How is a loan amortized?

Question 2: How is a loan amortized? Questio 2: How is a loa amortized? Decreasig auities may be used i auto or home loas. I these types of loas, some amout of moey is borrowed. Fixed paymets are made to pay off the loa as well as ay accrued

More information

Sole trader financial statements

Sole trader financial statements 3 Sole trader fiacial statemets this chapter covers... I this chapter we look at preparig the year ed fiacial statemets of sole traders (that is, oe perso ruig their ow busiess). We preset the fiacial

More information

HSAs the American Fidelity Way:

HSAs the American Fidelity Way: Health Ser vices Admiistratio, LLC HSAs the America Fidelity Way: Kowledge, Experiece, Commitmet With over 30 years experiece i providig pre-tax services, America Fidelity is a pioeer i Sectio 125 flexible

More information

Best of security and convenience

Best of security and convenience Get More with Additioal Cardholders. Importat iformatio. Add a co-applicat or authorized user to your accout ad you ca take advatage of the followig beefits: RBC Royal Bak Visa Customer Service Cosolidate

More information

*The most important feature of MRP as compared with ordinary inventory control analysis is its time phasing feature.

*The most important feature of MRP as compared with ordinary inventory control analysis is its time phasing feature. Itegrated Productio ad Ivetory Cotrol System MRP ad MRP II Framework of Maufacturig System Ivetory cotrol, productio schedulig, capacity plaig ad fiacial ad busiess decisios i a productio system are iterrelated.

More information

How To Live At Home

How To Live At Home What You Need To Kow About Your HECM Couselig Sessio 1. Why do I eed couselig? The US Departmet of Housig ad Urba Developmet (HUD) requires a certified couselig sessio for a federally-isured reverse mortgage,

More information

To c o m p e t e in t o d a y s r e t a i l e n v i r o n m e n t, y o u n e e d a s i n g l e,

To c o m p e t e in t o d a y s r e t a i l e n v i r o n m e n t, y o u n e e d a s i n g l e, Busiess Itelligece Software for Retail To c o m p e t e i t o d a y s r e t a i l e v i r o m e t, y o u e e d a s i g l e, comprehesive view of your busiess. You have to tur the decisio-makig of your

More information

CHAPTER 11 Financial mathematics

CHAPTER 11 Financial mathematics CHAPTER 11 Fiacial mathematics I this chapter you will: Calculate iterest usig the simple iterest formula ( ) Use the simple iterest formula to calculate the pricipal (P) Use the simple iterest formula

More information

Disability Income Insurance

Disability Income Insurance Disability Icome Isurace Admiistered by The Parters Group ad Member Compay Kerr Cruickshak Member Compay: Negotiated Limited Time Offer INDIVIDUAL DISABILITY COVERAGE PROGRAM HIGHLIGHTS: Discouted, Specialty,

More information

Information for Programs Seeking Initial Accreditation

Information for Programs Seeking Initial Accreditation Iformatio for Programs Seekig Iitial Accreditatio Aswers to Frequetly- Asked-Questios (from www.abet.org/ew-to-accreditatio/) Assurig Quality l Stimulatig Iovatio This documet iteds to aswer may of the

More information

Founded in 1941 to serve the citizens of San Antonio and the military community, Broadway Bank has grown from a small neighborhood bank into one of

Founded in 1941 to serve the citizens of San Antonio and the military community, Broadway Bank has grown from a small neighborhood bank into one of PERSONAL BANKING Fouded i 1941 to serve the citizes of Sa Atoio ad the military commuity, Broadway Bak has grow from a small eighborhood bak ito oe of the strogest ad best capitalized idepedet baks i Texas.

More information

2 Time Value of Money

2 Time Value of Money 2 Time Value of Moey BASIC CONCEPTS AND FORMULAE 1. Time Value of Moey It meas moey has time value. A rupee today is more valuable tha a rupee a year hece. We use rate of iterest to express the time value

More information

2014 Menu of Agency Support Services 10 TOP OF MIND TOUCH POINTS

2014 Menu of Agency Support Services 10 TOP OF MIND TOUCH POINTS 2014 Meu of Agecy Support Services 10 TOP OF MIND TOUCH POINTS Table of Cotets Turig a moolie customer ito a multi-lie customer icreases retetio by 7x! ORGANIC GROWTH Policy Reewal Appoitmet Calls.4 Life

More information

Terminology for Bonds and Loans

Terminology for Bonds and Loans ³ ² ± Termiology for Bods ad Loas Pricipal give to borrower whe loa is made Simple loa: pricipal plus iterest repaid at oe date Fixed-paymet loa: series of (ofte equal) repaymets Bod is issued at some

More information

Commercial Real Estate Women Network

Commercial Real Estate Women Network Commercial Real Estate Wome Network About CREW Network Fouded i 1989, CREW Network is the idustry s premier busiess etworkig orgaizatio dedicated to ifluecig the success of the commercial real estate idustry

More information

for producer use only Term Insurance M25260_0510

for producer use only Term Insurance M25260_0510 for producer use oly Term Isurace M25260_0510 May 2010, Mutual of Omaha Isurace Compay, publisher. All rights reserved. No part of this publicatio may be reproduced, stored i a retrieval system or trasmitted

More information

Inland American s Exit

Inland American s Exit Report by UNITE HERE, December 2013 Becky Perrie, Sa Fracisco Research bperrie@uitehere.org/415-553-3276 Ilad America s Exit Will Ilad America Real Estate Trust take advatage of what it calls its very

More information

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development Use Your Home to The official reverse mortgage cosumer booklet approved by the U.S. Departmet of Housig & Urba Developmet The Natioal Coucil o Agig (NCOA) is committed to helpig older persos maximize all

More information

Retirement System for Employees and Teachers of the State of Maryland. MARYLAND STATE RETIREMENT and PENSION SYSTEM. Benefits

Retirement System for Employees and Teachers of the State of Maryland. MARYLAND STATE RETIREMENT and PENSION SYSTEM. Benefits Retiremet System for Employees ad Teachers of the State of Marylad hadbook ed 0 vis 01 R e ly 2 Ju MARYLAND STATE RETIREMENT ad PENSION SYSTEM Beefits RETIREMENT SYSTEM FOR EMPLOYEES AND TEACHERS OF THE

More information

Introducing International Investment Advisory Services. Your global needs, our international expertise

Introducing International Investment Advisory Services. Your global needs, our international expertise Itroducig Iteratioal Ivestmet Advisory Services Your global eeds, our iteratioal expertise Stregth ad Stability from RBC For over 140 years, ivestors have tured to Royal Bak of Caada (which operates globally

More information

Platform Solution. White Paper. Transaction Based Pricing in BPO: In Tune with Changing Times

Platform Solution. White Paper. Transaction Based Pricing in BPO: In Tune with Changing Times Platform Solutio White Paper Trasactio Based Pricig i BPO: I Tue with Chagig Times About the Author(s) Raj Agrawal Curret Desigatio Raj heads the Platform Solutios Uit at TCS. I his career spaig over 19

More information

Bond Valuation I. What is a bond? Cash Flows of A Typical Bond. Bond Valuation. Coupon Rate and Current Yield. Cash Flows of A Typical Bond

Bond Valuation I. What is a bond? Cash Flows of A Typical Bond. Bond Valuation. Coupon Rate and Current Yield. Cash Flows of A Typical Bond What is a bod? Bod Valuatio I Bod is a I.O.U. Bod is a borrowig agreemet Bod issuers borrow moey from bod holders Bod is a fixed-icome security that typically pays periodic coupo paymets, ad a pricipal

More information

PFF2 2015/16. Assessment of Financial Circumstances For parents and partners of students. /SFEngland. /SF_England SFE/PFF2/1516/B

PFF2 2015/16. Assessment of Financial Circumstances For parents and partners of students. /SFEngland. /SF_England SFE/PFF2/1516/B PFF2 2015/16 Assessmet of Fiacial Circumstaces For parets ad parters of studets SFE/PFF2/1516/B /SF_Eglad /SFEglad Who should complete this form? Complete this form if you are: The studet s atural or adoptive

More information

CREATIVE MARKETING PROJECT 2016

CREATIVE MARKETING PROJECT 2016 CREATIVE MARKETING PROJECT 2016 The Creative Marketig Project is a chapter project that develops i chapter members a aalytical ad creative approach to the marketig process, actively egages chapter members

More information

Domain 1: Designing a SQL Server Instance and a Database Solution

Domain 1: Designing a SQL Server Instance and a Database Solution Maual SQL Server 2008 Desig, Optimize ad Maitai (70-450) 1-800-418-6789 Domai 1: Desigig a SQL Server Istace ad a Database Solutio Desigig for CPU, Memory ad Storage Capacity Requiremets Whe desigig a

More information

Flexible Trust. (Settlor as trustee with optional survivorship clause) Your questions answered. What is a trust? What is a Flexible Trust?

Flexible Trust. (Settlor as trustee with optional survivorship clause) Your questions answered. What is a trust? What is a Flexible Trust? Flexible Trust (Settl as trustee with optioal survivship clause) Your questios aswered Uderstadig trusts ad their implicatios ca be pretty complicated. You should always get advice from your legal adviser

More information

INDEPENDENT BUSINESS PLAN EVENT 2016

INDEPENDENT BUSINESS PLAN EVENT 2016 INDEPENDENT BUSINESS PLAN EVENT 2016 The Idepedet Busiess Pla Evet ivolves the developmet of a comprehesive proposal to start a ew busiess. Ay type of busiess may be used. The Idepedet Busiess Pla Evet

More information

Bank Secrecy Act. Job-specific BSA tracks Related case studies Suggested courses

Bank Secrecy Act. Job-specific BSA tracks Related case studies Suggested courses Bak Secrecy Act Whether your bak is big or small, Bak Secrecy Act (BSA) compliace ofte feels overwhelmig due to the complexities ad related processes ad procedures surroudig this ever-chagig legislatio.

More information