| Phil Wasserman Announces Series of White Papers on Life Insurance ...
SARASOTA, Fla.--(BUSINESS WIRE)--March 25, 2007--Phil Wasserman, one of the nation's leading experts in life insurance and president of Phillip Roy Financial Services, one of the leading firms in retirement income planning and sellers of annuities and life insurance, is announcing a new series of white papers on the settlement of existing life insurance policies, known as "Life Settlement." "Life Settlement is when a person no longer needs or wants an existing in place life insurance policy that he or she or a trust has owned for more than two years," Phil Wasserman says. "And many people over the age of 65 don't even know that many Wall street firms want to purchase their existing insurance policies. Instead, they lapse the policy, leaving huge amounts of money on the table. Experts estimate that over 60% of all life insurance policies dealing with people over the age of 65 lapse.
3 Steps to Supercharge Your Retirement Savings
It seems like just yesterday we were ringing in 2007. Now, as March comes to a close, it's a good time to check in on how those New Year's resolutions are going. Okay, so maybe you haven't seen the inside of your gym since January. But hopefully, at least some of your resolutions stuck. If you made retirement savings a priority for 2007, hopefully you've harnessed the hidden fortune inside your paycheck and channeled some of your money toward retirement. If not, there's still time. Here are three simple steps that will get you back on track to get the full potential of your retirement savings. Increase your contributions. It sounds simple, but it's easy to forget: Saving more means a better retirement. Take a look at the options available to you. Are you putting away the most you can? If not, consider bumping up your savings.For 2007, the maximum you can contribute to your 401(k) is $15,500, and the maximum IRA contribution is $4,000.
Man accused of scam wins $2100 on lottery TV show
A man awaiting trial on charges accusing him of bilking $135,000 from three people in a home-repair scam won $2,100 on the Ohio Lottery's television game show. Timothy Snyder, 44, of St. Louisville, had a winning scratch-off ticket that earned him an appearance on "Make Me Famous, Make Me Rich," which aired Saturday night. There are no laws or rules that prevented Snyder from appearing on the show, lottery officials said. Snyder is scheduled for trial May 29 in Licking County Common Pleas Court on two counts of theft from an elderly person, theft and misuse of a credit card. Snyder, arrested and indicted last year, is free on $5,000 bond. Authorities accuse Snyder of encouraging three people to open joint bank accounts with him and cash in insurance annuities to buy supplies for home repairs that were never completed.
2007 Guggenheim Fellowship Awards Announced
Results of the John Simon Guggenheim Memorial Foundations eighty-third annual United States and Canadian competition have been announced by Foundation president Edward Hirsch. The 2007 Fellowship winners include 189 artists, scholars, and scientists selected from almost 2,800 applicants for awards totaling $7,600,000.
Decisions are based on recommendations from hundreds of expert advisors and are approved by the Foundations Board of Trustees, which includes six members who are themselves past Fellows of the Foundation Joel Conarroe, Joyce Carol Oates, Richard A. Rifkind, Charles Ryskamp, Ellen Taaffe Zwilich, and Edward Hirsch. Guggenheim Fellows are appointed on the basis of distinguished achievement in the past and exceptional promise for future accomplishment. The 2007 Fellows range from the 30-year-old fiction writer Daniel Alarcn of Oakland, California, and the 29-year-old video and sound artist Kalup Linzy of Brooklyn, New York, to the 75-year-old medieval and Renaissance historian, Meredith Parsons Lillich, of Syracuse, New York.
AARP Horns in on Immediate Annuities
AARP Financial has recently teamed up with New York Life Insurance Company to launch the AARP Lifetime Income Program, a program designed to generate a more secure stream of retirement income for AARP members. The new product offers fixed immediate annuities, issued by New York Life Insurance and Annuity Corporation (a division of New York Life), which the insurer says will provide guaranteed income for life to AARP members between the ages of 50 and 85. Mindful they run the risk of outliving their assets without ongoing income, many AARP members have expressed interest in the potential of annuities to help fill their income gap, Larry C. Renfro, AARP Financial president said in a statement.
Indeed, according to New York Life research, more than half (58%) of pre-retirees surveyed by the company thought it important at or near retirement to supplement the income they will receive from Social Security or pensions by purchasing a product like an income annuity that provides guaranteed retirement income.
|
