Book Description

This current, accurate and detailed industry guide for financial service professionals examines life and health insurance simultaneously from the viewpoints of the buyer, the advisor, and the insurer—providing a comprehensive and unbiased treatise on individual and group life; a forthright appraisal of life and health insurance industry products with careful consideration of the environment; and a complete examination of life insurance company operations and regulation. Bases financial treatment of life insured operations on modern financial theory, and devotes entire chapters to the economics of life and health insurance; individual life and health insurance policies; life and health insurance evaluation; the uses of life and health insurance in personal and business planning; government and employee benefit plans; and the management, operation, and regulation of life insurance companies. Offers a strong global orientation, supporting fundamental concepts with an extensive integration of economic and financial theory and international comparisons, and examines how today's health insurance products fit into a broad framework from a contractual, cost, and performance viewpoints. New chapters on the tax treatment of life and health insurance address such areas as estate planning, retirement planning, and the business uses of life and health insurance. For financial planners, salesmen, actuaries, investment managers, attorneys, CPAs, and other financial service professionals.

Reviews (3)

Life and Health Insurance (13th Edition)
New edition of a venerable classic textbook first published in 1915

Comprehensive and concise
This is an excellent reference book for anybody in the life insurance business, whether you are a novice or an old hand. Comprehensive, easy to understand, and concisely written.

an excellent reference book
This book is an excellent reference book. Just by looking at its Edition Number -- 13, you will know how important this book is in the industry. ... Read more

Reviews (2)

Talk in General terms
I did not find the book real helpful. It was to general and had many predictions but was sparce on good specific advice. My favorite book of this type is "Getting Clients, Keeping Clients."

Sincerely,
Thomas Cloud, Jr., ChFC

His vision of our industry is right on!
I have been in the life insurance business for 14 years and have worked in the agency system (as and agent and manager)for two of the largest mutual companies. I had been referred to this book by a friend of mine in the industry when I was disenchanted with direction of the agency system.

Mr. Sullivan's comprehension of the present agency system and the industry is only superceded by his vision of the direction of the future. He is right on!

So much so that I decided that it was time for me to move on and join a producer's group where I was totally independent without any conflicts of interest to my client. I am in total control of my destiny now. By the way, my production has conservatively doubled since I have moved on. I am more confident now, with a broader array of products, and most importantly no distractions.

Thank you Mr. Sullivan!

Sincerely,

Stuart B. Arakelian Registered Representative ... Read more

Reviews (9)

You'd Be Surprised
If you have ever wondered about life insurance and all of the goods and bads about it, this is most difintely the book for you to get. You'd be surprised as to who recommended me this book. My RVP. And what is it that i do. I help people figure out if their life insurance is actually the one for them, if not, I find something better for them perhaps. This book was one of the required materials for all interns to read and follow by. By all means, not all insurance salesmen, and woman, fear this book, some actually live and sell by it. Overall, it's a great book. It opens your eyes to the reality of the insurance business!

The BIBLE of Life Insurance Product Knowledge
For anyone concerned about the vast array of life insurance products, Dacey is right on target about the way cash value and term life insurances work. His analyses are timeless, because the products are constructed the same today as when he originally wrote the book. "There is nothing new under the sun . . . ."
Despite the ever-changing assortment of "titles" the cash value industry puts on its policies, the fundamentals are the same, always have been, always will be: as you get older, the risk of dying and the cost of insurance increases; if you don't increase the premium with time, or create the correct level premium from day one, the product is most likely to collapse at some point in the future when you can least afford that event (AKA: Universal Life -- see the "guaranteed" column in your policy's illustration pages, not the "based on current assumptions" column), because "current assumptions" that create initial premiums are artificial -- there can be no guarantee that they will remain the same into the future (and most never do).
Buy AND READ this book--all of it!!--to get a thorough working knowledge of the industry, its products, and understand your true need for INCOME PROTECTION, not LIFE INSURANCE that your cash value life agent wants to sell you. Do business with someone who also understands and believes in Dacey's "buy term and invest the difference" concept. They're out there!!

Real AMMO for your next talk with an insurance salesman
Yes, this book is an idealogical tirade against the concept of permanent insurance and the companies that have pushed it for years. But it also presents tremendous amounts of interesting factual information. This book will get you asking the questions that really matter:

1) How could anybody pretend to insure me permanently against the most certain event in life--DEATH?

2) Why should I need insurance after I retire?

3) Why and when do I really need insurance?

Yes. This book will make you spit bullets. Your Grandpa and your life insurance salesman friends will not like this book. Try to be understanding of them. They have been trained to think buying insurance is like buying a car; why would anybody want to lease when he could buy? But if you have read and agreed to "The Millionaire Next Door," you will agree that you have little need for permanent life insurance.

A MUST READ for anyone who's planning to buy life insurance!
This text smashes the myths put forth by the big life insurance companies about how life insurance REALLY works! If you are planning on protecting your family's well being through the purchase of a life insurance policy, READ THIS BOOK FIRST! If you already OWN a life insurance policy, this text will REALLY open your eyes. (not to mention, probably get you VERY angry!) You will save yourself a LOT more then the purchase price of this book. I guarantee it!

Incredible Statics of How "MOST" Ins. Cos. Rape the Consumer
This book should be MUST reading by anyone who is considering entering the field of Insurance and a career. Jim F. Lexington, KY ... Read more

Reviews (3)

Not for average consumer
I do not recommend this book as a main source of information for the average reader. It is informational, but probably incomplete and not useful in deciding which plan to implement. It is used as a supplement (not even the main textbook) in an advanced Certified Financial Planning (CFP) course. Students in this course already have proven knowledge of key concepts regarding taxes, investments, risk management-insurance, etc. This is tough education/training that is being undertaken by people who's main job is (will be) to advise on these subjects.

Informative But Organized Poorly.
The other review for this book refers to it as dry. Frankly, I have yet to read a riveting book on the retirement plan regulations. Liemberg touches on all the relevent topics that can arise when planning a retirement program for a company or an individual. What makes the book so tedious is that so much of the first 250 pages covering the various retirement saving vehicles rehash the same ERISA/IRS regulations every chapter. Chapters 25 through 27 which sumarize these regulations should be at the beginning of the book and then each chapter covering a retirement plan would only need a table referring to them. Liemberg instead tortures the readers with them in virtually every chapter from Ch.s 8 - 24. The meat of the book is then followed by about 25 short chapters covering all sorts of additional corporate benefits such as life and health insurance and reimbursement plans. Leimberg should be applauded for including so many topics but should have gotten his act together with the organization after 8 editions. For those of you that need to read this for the CFP or related professional tests, I suggest reading chapters 25-27 before reading Ch.s 8-24.

Poorly Written Textbook
This is a poorly written textbook. It is dry, uninformative and lacks any cohesive organization that would make the material easier to understand. The author uses a set template for each topic (Advantages, Disadvantages, Tax Implications etc.) that sometimes fits and sometimes does not fit the topic at hand. In more than one case, there are bullet items that repeat the same text as previously bulleted items. This is just sloppy editing and a lack of attentiveness ... ... Read more

Book Description

"For anyone who needs to understand different types of life insurance, as well as considerations for purchasing and managing policies, this book should be on your nearby reference shelf. If you’ve frequently found yourself fumbling around with terminology, such as the differences between variable, universal, and variable universal life (VUL) policies, you’ll finally see some light through the haze." - MorningstarAdvisor.com

Life insurance doesn't have to be complex or intimidating. Ben Baldwin's completely revised and updated guidebook makes it clear and logical, discussing how to analyze insurance products based on their investment merits and best overall financial returns. This clear, authoritative resource for consumer insurance information covers the pros and cons of Internet purchases, techniques to use capital within a policy, the fixed premium feature, insurance for different stages of life, and the new emergence of "immediate annuities."

Reviews (14)

For anybody that calls themselves financial advisor
This book is for any life agent, financial advisor, CFP, CPA, or anybody who specializes in the financial services industry. This book is for agents who still sales whole life or universal life ,variable universal life can do anything that fixed insurance product can do and more. This book is also for those who sale the VUL, it will help you understand what it is and how it works, It is a hell of a lot more than just Life insurance. This book is also for buy term and invest the difference people, after reading this book you will understand that term investing the difference is a foolish mistake and a amiture one as well. If you are giving financial advise and not looking to see if the VUL can fit into their portfolio in some cases you might be leaving your client an incompleate financial plan. I would ask for all those specializing in these areas to please read this book. As of today there isn't a financial product that can do what the VUL can if structured properly. Please email me if anybody finds a better and more productive product.

It's like an insurance salesman in your living room.
I think it is a very detailed, organized, and thought out sales pitch for variable universal life insurance (VUL). I came to the conclusion that the product could be useful some a few people with long term need for life insurance, a higher tax bracket, probable estate tax liabilities, and success at finding a policy with low fees. There are a lot of fees associated with the VUL policies which this book primarily pushes. Good investment performance would also be needed. I came to the conclusion that VUL would only make since for me if estate taxes would be an issue 30 to 40 years from now. Otherwise the buy term and invest the rest strategy would probably win out. He made a strong pitch for buying through an insurance professional (his profession), but it is my opinion that this would result in excess fees which would off-set much of the tax advantages. In my case I would already need to pay a for the preparation of the life insurance trust to give me the estate benefit I wanted. He also proposed that VUL was a much better choice than a non-deductible IRA (book was written pre-Roth IRA) because of all the trouble or cost for the paperwork required by non-deductible IRAs. Seemed to me there was as much paperwork involved with VUL, although much of it may be prepared by the insurance company. They should do something for those fees. It was a well written book and read well. Easier to put down though than it is to get an insurance salesman out of you living room.

Not what I was expecting, too biased
If you're looking for an objective presentation of life insurance choices, this is NOT the book. This is biased towards Variable Univeral Life. I'm returning this book.

Decent
Although Mr. Baldwin did a nice job explaining the various insurance products, he came across as too much of a salesman.

I also found a portion of what he said to be misleading. He talks about how if a person is happy paying their premiums (and expenses) with after-tax dollars, then term insurance is good for them. He then states that by using a VUL product, a person can pay their fees with before-tax dollars. This is misleading in that the premium you pay to the insurance company IS AFTER TAX!

The best thing to keep in mind while reading this book is that Ben Baldwin is an insurance salesman!

powerful info!!!
This is a wonderfull consumer friendly book! It puts in english all the information on the various types of insurance.
It dispells many of the mis-conceptions regarding variable universal life. Refering to it as the swiss army knife of financial products sums it up!!!
Mr. Baldwin is an extremely respected person in the planning community-- this books is well worth reading for anyone!!! ... Read more

Book Description

From the reviews: "The highly esteemed 1990 first edition of this book now appears in a much expanded second edition. The difference between the first two English editions is entirely due to the addition of numerous exercises. The result is a truly excellent book, balancing ideally between theory and practice. ....As already hinted at above, this book provides the ideal bridge between the classical (deterministic) life insurance theory and the emerging dynamic models based on stochastic processes and the modern theory of finance. The structure of the bridge is very solid, though at the same time pleasant to walk along. I have no doubt that Gerber's book will become the standard text for many years to come. Metrika, 44, 1996, 2 ... Read more

Reviews (1)

Taxing book
This book is highly recommended for those who are interested in life insurance and superannuation models. It outlines various topics such as the actuarial mathematics and models for use in the analysis and actuarial management of life insurance and superannuation contracts. Topics covered include: the main forms of life insurance and annuity contracts, disability and long term care contracts and superannuation fund benefits; actuarial notation and the life table; moments of the value of the benefit payments; Thiele's differential equation for policy values; stochastic modelling of claims and benefit payments; gross premiums, net premiums, policy values and reserves; allowing for expenses and inflation; use of discounted emerging costs and profit tests; asset shares in life insurance; termination and alteration values; cost of guarantees; joint life functions; valuation of disability insurance contracts. If you are studying actuarial subjects that involve any of the above concepts then this book is recommended. Included are many questions with answers. ... Read more

Book Description

Praise for InvestmentGuarantees

"In addition to being a valuable and innovative addition to the literature on risk management of equity-linked insurance, this book provides a uniquely clear demonstration of using different measures in a very practical context. A great way of showing actuaries how to ‘mind their Ps and Qs’!"
—Boris Brizeli
Principal and Chief Operations Officer
GE Insource Limited

"This is an extremely well written and comprehensive book which will be useful for both practitioners and graduate students. It provides a unique synthesis of techniques and tools in econometrics, financial engineering, and simulation applied to questions of fundamental importance in insurance."
—Dr. Andrew Cairns
Reader in Financial and Actuarial Mathematics
Heriot-Watt University

"Investment Guarantees will become the reference book of choice for both actuaries and non-actuaries alike working in the field of guarantees associated with equity-linked products. The book provides an excellent balance between theory and practice in the course of contrasting actuarial modeling and option pricing theory as applied to guarantees on equity-linked products."
—Larry M. Gorski
Life Actuary
Illinois Department of Insurance

"Professor Hardy strikes the right balance between theory development and practical demonstration, offering insights to both novices and experienced practitioners.Her comprehensive treatment of risk modeling of investment guarantees will benefit actuaries and financial engineers alike, allowing each to understand better the nature and management of equity exposure. Exceptionally readable, Investment Guarantees is an invaluable resource for insurance and financial professionals working with equity-linked insurance and annuity products."
—Geoffrey H. Hancock
Principal
Mercer Risk, Finance & Insurance Consulting ... Read more

Reviews (1)

Very Helpful
As guarantee products are popping up all over the global banking and insurance markets, it is absolutely essential to ensure that the proper financial values are upheld in order to avoid many of the problems that the North American market has faced. 'Investment Guarantees' does a wonderful job of describing these risks in simple enough terms that the pages can be quoted to both financial and non financial people. A very powerful read for those looking to undersand the value of guarantees that are placed on accumulation type insurance products. ... Read more

Book Description

Now - the Society of Financial Professionals teams up with tax and estate planning expert Lou Shuntich to bring you a practical new reference guide that is both compact and comprehensive.Concise and to-the-point, this handbook provides the latest industry information on:

· The legal aspects of acquiring and owning a policy

· The types of products and contracts available

· Simple criteria for evaluating and comparing policies and insurance companies

· The tax implications of each product type

· Structuring policies, ownership arrangements and beneficiaries for maximum tax and legal benefits - and tips for avoiding traps and pitfalls in the process

While not an exhaustive account of the industry - it's an excellent primer that covers the key concepts necessary when advising clients or analyzing portfolios and estates.And in keeping with the Society of Financial Professionals' steadfast commitment to providing continuing education to the industry.The Life Insurance Handbook is the perfect learning too for keeping busy financial professionals and their clients up-to-date. ... Read more

Book Description

You’ve heard from the rest, now learn from the best—Million Dollar Selling Techniques As the one who provides the vital link between the product or service provider and the customer, you, the sales professional, are the backbone of the modern business enterprise. Now, learn how to take your selling skills to a bold new level of excellence from some of the most successful sales professionals in the world. Based on interviews with members of the prestigious Million Dollar Round Table—the top six percent of the international life insurance sales industry—Million Dollar Selling Techniques features fascinating and instructive "war stories," proven selling strategies and techniques, and step-by-step guidance on:

• Enthusiasm, conviction, and other key psychological factors
• Self-motivation techniques
• 10 common career traps and how to avoid them
• Breaking slumps
• Overcoming call reluctance and fear of self-promotion
• Cold calling and obtaining interviews

Reviews (1)

Very good for beginner
This book is very good for beginner, as it mentions all the basic and foundamental concepts and mindsets in selling. However, as a product of MDRT centre, I am expecting more. I am expecting some more in-depth insights or inspirating ideas for the sales who is in average but wants to increase their business to MDRT level. Frankly specking, I am quite disappointed when I found out that this book contains mainly foundamental concepts which are not distinctive and which I have heard about from other sources (remember, this book is from MDRT centre, not other "average" writers). ... Read more

Reviews (2)

Great Study Guide
Very informative and through. Coverage of all topics is very well written and easy to understand, even without prior insurance experience or background. This is by far the best exam study guide I have come across because of the way it is layed out with each chapter including a "quick quiz" in the middle & an end of chapter "exam". Also at the end of this book is a full exam that covers all topics discussed, as well as sample applications and basic insurance forms. Very helpfull and will be a great addition to any agents reference collection. I highly recommend this book for the novice, expert, and soon to be life & health agents. A++

Good at home study guide.
Overall it is a good study guide (I passed using this book with 2 weeks of leisurely at home study), but the test section could be revamped - it did not include enough questions that were like the ones on the actual exam (I took an Experior Online state exam). ... Read more

Reviews (5)

too basic for most people
this book should really be titled "Buying Insurance." there is almost nothing in it about annuities, which is the primary reason i bought the book. there is no explanation of guaranteed vs. current annuity rates, different provisions like MVA, etc. it did help me out with a couple of insurance topics, but if you are really sitting down and getting ready to actually make decisions or pruchase insurance/annuities, this book doesn't even begin to get you prepared for the real world. it's good bathroom reading for someone just curious about the subjects, but not a very practical book with real money/lives on the line. if you're a do-it yourselfer, or like to be prepared before meeting with financial professionals, i think you almost have to buy a few different books, one specializing in each subject.

Almost everything you need to know
This is a wonderful explanation of all the terms you need to understand before buying life insurance. Just bear in mind this one thing. The insurance company will always try to get more money out of you then you get from them. So, life insurance is a bad investment unless there is a catastrophe.

some good basic info, but....
This book has some good information, but after reading the section on annuities, I put the book down and refuse to read another word of it and do not recommend it to anyone. This is because the author fails to even mention that anyone can purchase an annuity with no surrender penalties whatsoever with many no load mutual fund companies. Sorry Brian, but that fact you left that out reveals your bias perspective, and is just plain unacceptable for a book like this. Shame on you.

Good, general guide
This is a good investment if you are looking at establishing financial security and your plan includes insurance coverage. This will prepare you with some good common sense tips and easy to understand explanations. It is a quick read but worthwhile if you are totally new to this area.

The Complete Idiot's Guide to Buying Insurance and Annuities
For the insurance poor! If insurance is greek to you, this is a great book to have. It provides great simple explanations and illustrations. For the readers ease they included "jargon alerts" so you don't have to have a dictionary to read the book and "insider tips" to advice you even more. Makes for a great reference tool. ... Read more

Reviews (2)

A Useful Encylopedia
I went to a financial professional who was going to charge me $2000 for advice. I saw this title on their office shelf, and I bought the book instead. I saved tons of money and I taught myself what they know. This is not a gimmick book, like how to get rich quick or make millions in real estate. It's more like a financial encylopedia. This book is great for the working person who needs to know how to plan, or just wants to speak the same language as the financial profesisonals. Thanks to this book, I didn't pay a big commission.

Don't waste your money.
Lesson One in Financial Planning: Don't waste money. If you know absolutely nothing about investing and planning, then this book is for you.

Alternative title: "Financial Planning For High School Freshman"

Case-in-point, the reader must slog through 290 pages to get to chapter 16 titled, "Risk & Reward". And then, (drum roll, please!) we get this gem, "Sound investment management principals dictate that the investor should almost never invest in just one asset class to the exclusion of all others". WOW, that's worth every penny of my ($). THANKS!

Bottom line, if you're in the financial services business and you need this book...it's time to rethink that career choice. ... Read more

Reviews (2)

Important book
An important book on life insurance by the most knowledgeable author on the subject. THE book to read.

The definitive guide to life insurance.
Joseph Belth provides the analytical consumer with a rational, systematic approach to understanding personal insurable risk and how to transfer that risk to an insurance company. Readers can browse the chapters to get answers to questions specific to their individual situation, or read it cover-to-cover for a comprehensive overview. Of particular value are the strategies for assessing how good your policy is and whether it's a "good deal". Although a bit dated, it is still the best book on the subject. Those interested in a more current discussion of the industry, company ratings, and consumer issues are referred to Professor Belth's newsletter THE INSURANCE FORUM, PO Box 245, Ellettsville, Indiana, 47429. ... Read more

Book Description

Yor’ve heard from the rest, now learn from the best—Million Dollar Prospecting Techniques Effective prospecting skills are the foundation upon which successful sales careers are built. Now, learn the secrets of effective prospecting from some of the most successful sales professionals in the world. Based on interviews with members of the prestigious Million Dollar Round Table—the top six percent of the international life insurance sales industry—Million Dollar Prospecting Techniques features fascinating and instructive case studies and anecdotes; proven prospecting strategies, systems, and formulas; and step-by-step guidance on all key aspects of sales prospecting, including:

• Attitude, authenticity, and other intangibles
• Locating and qualifying prospects
• Leveraging the telephone’s full power
• Making cold calling more effective—and more fun
• Building networks and getting referrals
• Marketing—including a chapter on electronic marketing techniques

Reviews (6)

OK
Good book. Follow it and you'll do well. MDRT could update this with suggestions from recent MDRT winners.

Very Good Book
I have used, to a degree of success, the suggestions within this book. You must follow and practice in order to become better. I recommend this book for an experienced producer or a entry level salesperson.

I expected more
This book reflects a low standard from an excellent organization. It is a mixes plegiarizaton with cliches and fails to deliver anything of substance to those wanting more. As someone who trains financial planners, skip this book. There are better books on prospecting and attitudes about prospecting such as the psychology of call reluctance (see my list of suggested sales books). Others, like SPIN selling do a much better job on the subject of selling in general. Skip this one. Buy one of the others. Demand better from MDRT.

Not worth my time
I needed a book on prospecting because I just got started in automotive sales. This dull book wasted most of it's time discussing attitudes and philosophies about selling. Another entire chapter of this 5 chapter gem was devoted to networking at parties (and the only parties discussed in this chapter were ones were lots of successful rich business owners are in attendance-gee thanks).

Basically I ten times more useful prospecting ideas out of one chapter of Tom Hopkins "How to Master the Art of Selling" than this entire book!

An Excellent Tool For Sales Success!!!!!!!!!
This book is an excellent tool for the blood of selling which are the prospects. It helps you to develope and learn the technique that you can feel comfortable with and master it. I started using one of their suggestion already have appointments that are not just good, they are profitable. READ IT AND USE IT. ... Read more

Book Description

Discover how to buy the right health insurance cheaply and effectively. Includes inside tips for smart shoppers on compensation, the selection process, evaluating your health insurance needs, and much more. ... Read more

Reviews (2)

Mediocrity and Duplication
This book does contain some definitions and explanation of health insurance conventions that may be helpful to many. For instance I found the explanation of what to expect from Medicare and the info on Medigap policies informative. As for advice, there are few insights here, mostly platitudes and generalities that should be obvious to anyone (like "read the policy terms"!) Far worse, the text in this book is EXACTLY IDENTICAL to the book "Hassle Free Health Coverage" - so DON'T BUY BOTH!

Written expressly for bewildered lay readers
A solidly practical guide written expressly for bewildered lay readers, Health Insurance Made E-Z covers almost everything anyone needs to know ranging from basic terms and definitions, to how managed care works, Medicare and Medicaid, choosing the right plan, tips for health insurance shoppers, coping with insurance claim trouble and much more. Simple, down-to-earth explanations and a wealth of details and advice make Health Insurance Made E-Z an absolute "must" for health insurance buyers everywhere. In this era of rapidly rising health costs, it iss far, far better to learn the nuances of health insurance before you find yourself paying hundreds of dollars or more a month for it -- only to be disappointed if the need for it should ever arise! ... Read more

Reviews (2)

An Informative book
If you know little on the subject of variable universal life you will enjoy this book otherwise this book would serve a more knowledgable person little value.

Good overview of life insurance product (VUL)
This book provides an overview of variable universal life products in the US. It is designed as a continuing education textbook for financial planners and insurance brokers.

The language is simple to read and it provides exercises in each chapter. A review of different life insurance products is in the first chapter.

If you are interested in VULs because you are considering purchasing one, this is an outstanding book to get for the money. It describes how the polices work in a way that is much clearer than what is provided in a prospectus.

Unfortunately, the book does not make recommendations on companies or what premiums are at various companies. For that sort of advice, a book like "New Life Insurance Investment Advisor" by Ben Baldwin might be of interest. ... Read more

Book Description

The absolute bottom line on wealth creation and preservation. The first financial book for the new millenium. ... Read more

Reviews (2)

Using Insurance to protect your estate
I am not a big fan of life insurance and insurance products. Having been at one time a sales rep for one of the big three insurance companies, I am acutely aware of the shenanigans that transpire.Too many young and struggling people get suckered into buying life insurance for all the wrong reasons.Barry Kaye, on the other hand, does make a strong case for insurance as an estate tool for the 'Wealthy'. People who have already amassed great wealth and are looking for a way to reduce estate taxes and leave more cash for their heirs.It's been said that while you are alive the IRS will take everything they can and when you die they will get everything they missed. How true!70-ish retireees worried about the stock market will find the advice on pensions, profit sharing, 401 (k) and IRA Maximizer very useful.Savers with low/non growth savings accounts and other similiar financial instruments that are purported to be "safe" will find a better alternative here.The book profiles 10 case studies. Case study #10-Create $6 million for $3500 a year should appeal to many.If you have already amassed great wealth and need some strategies to preserve your wealth and want to leave more to your heirs, this book is for you. If you are looking to create wealth, you will be better off with More Wealth Without Risk or You've Earned it Don't Lose it.In any event, it is interesting reading for anyone seeking to create wealth and reduce or eliminate estate taxes.

Estate Tax Planning Using Life Insurance for Wealthy People
If you are 60 or over and are worth over two million dollars, you will probably get ideas for estate tax planning from this book that your estate planning lawyer will not think of. If you are not that old or not that wealthy, the book will probably not be as useful for you. However, if you plan to be worth over two million by the time you are 60, you will find some ideas to help you get there.

One word of caution is appropriate for you here that the book does not discuss. Congress is trying to pass revisions in estate taxes that would eliminate most of the problems for which solutions are described in the book. President Clinton has vetoed that legislation recently. Keep tracking what is going on with estate taxes in Congress. Otherwise, you may be working on solving some problems that you don't have.

As a CLU (Chartered Life Underwriter) with 38 years of experience, Mr. Kaye knows all of the tricks -- certainly he knows more than any life insurance agent who has ever called on me. He also describes strategies that I have not heard from estate planners, as well. They seem sound, based on the data presented here. But you may get different numbers when you check into it for yourself, so caveat emptor (let the buyer beware).

Most of the concepts are built around the tax advantages of life insurance. It accumulates tax free and you can use it to pay your estate taxes. Unless you are wealthy, you won't have estate taxes.

Mr. Kaye wrote this book, in part, as a response to the book, Die Broke. He counters that "He who lives rich, dies rich."

If you belong to the school that you want to pile up wealth, Mr. Kaye can help you. If you belong to the school of enjoying all the wealth for yourself while your're alive, his help will be less beneficial.

People have historically used life insurance as income protection for a family. This book balances that perspective with ideas for how life insurance can help with wealth creation, estate planning, charitable giving, diversification, and risk reduction.

If you get tired of hearing a constant pitch for life insurance as the answer to all of your problems, you probably won't finish the book. But, be sure to look at the 10 case histories near the end for the case with a person whose situation is most like your own. You will probably get a useful idea or two. I suggest that you do check these ideas out with your financial advisor and tax attorney, given the changing estate tax environment, before doing anything.

Good luck with pursuing your financial goals, whatever they are!

... Read more