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Life & Health Insurance/Questions Answered by Expert leboyd
| Subject | Date Asked |
| Whole life insurance. | 12/30/2009 |
| Q: If a relative living in Massachusetts has a whole life insurance policy and has to go to a nursing ... A: Chris, LTC and Medicare is a specialized area and is specific to each state. While I can address ... | |
| do I have to give my benefits to the trust? | 11/18/2009 |
| Q: My mom died 7 months ago. She changed her life insurance policy three years ago and named me the ... A: Cheryl, I'm not an attorney, so I definitely recommend that you meet with an estate and probate ... | |
| LIFE INSURANCE TESTING ONLINE | 10/29/2009 |
| Q: I WOULD LIKE TO KNOW IF THERE ARE ANY ONLINE TEST YOU CAN TAKE TO GET YOUR LIFE INSURANCE? WITHOUT ... A: Janet, Unfortunately, I'm not aware of the specific laws for a resident in the State of Alabama. ... | |
| policy | 10/16/2009 |
| Q: I was wondering if you knew what a "advanced premium deposit fund" is? My mother found an old ... A: Jackson, An advanced premium deposit fund is basically a deposit into the company's low-interest, ... | |
| Differences between an IUL and a UL | 9/30/2009 |
| Q: Leboyd, After reading some of your answers, I am quite impressed with your knowledge. I have a ... A: The only product with the guarantees that you want is WL. UL and IUL have flexible premiums and ... | |
| Differences between an IUL and a UL | 9/30/2009 |
| Q: Leboyd, After reading some of your answers, I am quite impressed with your knowledge. I have a ... A: Anthony, Thank you for your complement. Why, lots of questions there :) Let's start with some of ... | |
| change of beneficiary in california | 9/11/2009 |
| Q: My brother recently passed away. His wife is contesting the life insurance policy. About two years ... A: David, Sorry to hear about your loss. Unfortunately, this is more of a legal question than a life ... | |
| Life Insurance Policy | 9/9/2009 |
| Q: My Father passed 2 years ago. He told me approx 2 years prior to his death that he had taken an ... A: Paul, I would call the "Death Claim department" at the insurance company, give the policy number ... | |
| Long term care | 8/13/2009 |
| Q: Given the following scenario, would you advise the purchase of long term care insurance? Husband ... A: Dave, As with most insurance questions like this, the answer is not too cut-and-dried. For ... | |
| term vs universal | 8/13/2009 |
| Q: You wrote the following response to Bryan some time back and I found it very insightful. Now, could ... A: Alan, It is definitely different for 55 year olds, than for 30 year olds. The two primary ... | |
| life insurance beneficiary | 8/6/2009 |
| Q: A year ago I rescued my neglected father from Arizona and brought him to Ca. My mother (his wife) ... A: Gail, I'm sorry to hear about your loss and situation. Death certificates generally are public ... | |
| beneficiary | 8/1/2009 |
| Q: as a beneficiary to my brothers life insurance policy and he dies do I pay any of his bills he ... A: Doris, Technically, you are not responsible for any unpaid loans that were taken in your brother's ... | |
| whole life policy | 7/29/2009 |
| Q: my father bought a whole life policy in 1985 what it be worth now? thank you very much Allan A: Allan, Unfortunately, there is no way for me to answer that question. There are two values with a ... | |
| WHOLE LIFE POLICY | 7/19/2009 |
| Q: IM NOT LOOKING FOR EXACT AMOUNT OF COURSE,BUT LET SAY MY MOTHER PASSED AWAY IN 2008,AND I JUST ... A: Anthony, There are a number of variables that go into account on a situation like this. The policy ... | |
| How much is enough? | 7/10/2009 |
| Q: My wife and I are both 59. We have two boys, one age 27 and employed, the other 24 and about to ... A: Jim, The details you provide are very good. However, I do have a question. Your agent recommends a ... | |
| Cash Value Protection | 6/27/2009 |
| Q: I am very interested in the concept of taking home equity to buy an EIUL. My concern is if the ... A: Darren, Doug Andrews concept of using the equity in your home to invest and to make more money on ... | |
| Cash Value Protection | 6/26/2009 |
| Q: I am very interested in the concept of taking home equity to buy an EIUL. My concern is if the ... A: Darren, I am unaware of anyone who has actually lost any death benefit or cash value because of a ... | |
| Temporary Producer Licence | 6/23/2009 |
| Q: If something were to happen to my husband ,who is a producer, how would I get a temporary licence ? A: Angelina, This is very specific to each state, as many states are different. I recommend that you ... | |
| Redemption of life insurance policy | 4/14/2009 |
| Q: Is the surrender of a life insurance policy in exchange for the cash surrender value a capital asset ... A: Eric, No, not really. If you surrender a policy and the cash value is greater than the total ... | |
| Retirement savings & Life Insurance combined | 3/31/2009 |
| Q: I am 29 years old and bought a combined Life insurance & savings (retirement plan)this week. I was ... A: Jasmine, An IUL is some kind of a "universal life" insurance policy. It is a life insurance policy ... | |
| Life insurance | 3/30/2009 |
| Q: My grandmother is paying a life insurance for over 22 years. Recently the payment almost doubled. I ... A: Mirela, Since I can't see the policy it is possible that it is a Universal Life policy instead of a ... | |
| Life insurance | 3/29/2009 |
| Q: My grandmother is paying a life insurance for over 22 years. Recently the payment almost doubled. I ... A: Mirela, This sounds like it was a "20 Year Term" policy. This means the premiums (payments) were ... | |
| Recession and Health Industry | 3/26/2009 |
| Q: my name is Baris. Would you please tell me about the problems that health industry faces because of ... A: Baris, Of course the first problem with reducing the price is that you still have to make a profit ... | |
| Recession and Health Industry | 3/25/2009 |
| Q: my name is Baris. Would you please tell me about the problems that health industry faces because of ... A: Baris, Since I'm in the US it might be quite different than in Taiwan. In an economic crisis the ... | |
| Life Insurance | 3/21/2009 |
| Q: I am a healthy 64 yr. old male. I have good blood pressure, colestral, weight 163 lbs and at the ... A: Bob, Your mother's death due to rheumatic fever should not be an issue. They won't even ask about ... | |
| has life insurance paid | 3/14/2009 |
| Q: My brother recently died of lung disease. My sister was listed as the beneficiary on his $10,000 ... A: Nancy, Sorry to hear about your loss. Many life insurance policies have a 2 year contestability ... | |
| Nonprofit - donations - paying for medical bills? | 3/6/2009 |
| Q: My nephew was just diagnosed with a genetic/incurable disease and we are trying to raise money or ... A: Bonnie, This isn't exactly a Life Insurance question :) Sorry to hear about your nephew. There ... | |
| Life insurance for terminally ill | 3/1/2009 |
| Q: My sister in law has two kids and her ex husband is dying of lung cancer. She had a life insurance ... A: Kendahl, Sorry to hear about your situation. If "several months ago" was more than 2 months, it's ... | |
| life insurance policy | 2/10/2009 |
| Q: My question is... My mother in law had an insurance policy that she paid into for her whole career. ... A: Amy, Unfortunately, there may not be much that can be done. If it was a group term policy, then if ... | |
| life insurance | 2/8/2009 |
| Q: I am 58, a non-smoker, I weigh 250 lbs. and am 6 feet tall. My wife is 57, a non-smoker and in good ... A: James, I'm not a big ban of "return of premium" policies because mathematically, it is typically ... | |
| Taxation on Transfer / Surrender of a Single Premium Whole Life Policy issued in August 1987 | 1/29/2009 |
| Q: Good Morning, I sincerely appreciate you taking the time to possibly address a complicated ... A: Brett, I could go into all the details, but I'm guessing this is a small policy with less than $10k ... | |
| old policy | 1/26/2009 |
| Q: I found an old life insurance policy my parents took out on me in 1955. Is it still good? Can I cash ... A: Vivian, First, I can't tell you whether the policy is still in force or not. If it is, then you ... | |
| health insurance | 1/4/2009 |
| Q: we live in florida and have our own business. my husband and i both work there but missed an open ... A: Marion, I'm sorry to hear about your situation. Unfortunately, insurance is expensive when you ... | |
| low carb diet | 12/21/2008 |
| Q: My husband was fought obesity all his life. We got a life insurance policy a few years ago while he ... A: Joanne, The insurance company is not so concerned about the diet, but they are concerned about ... | |
| Beneficiary - Employer Group Life Insurance | 12/10/2008 |
| Q: I am in California. My husband passed away last month. He had Group Term Life Insurance through ... A: Pina, I don't know the laws specific to California in regards to group life insurance. I do know ... | |
| Whole life insurance | 11/11/2008 |
| Q: I currently have a term life insurance policy and am considering converting it to a whole life ... A: Jess, It's difficult to answer the question without a lot of additional information. However, ... | |
| My Gmas investment... | 11/5/2008 |
| Q: HOW DOES MY MOM CLAIM MY GRANDMAS LIFE INSURANCE? My Grandma Dorothy had invested in a life ... A: Stephanie, The first question I have is, "When you say 'invested' it sounds like you are referring ... | |
| CANT AFFORD TO PAY FATHER POLICEY | 10/22/2008 |
| Q: My dad has been paying for 4 of his kids whose age is 27-30 years of age an his grandkids life ... A: Tina, Because your dad is the policy owner, he will have to do everything. The one exception is if ... | |
| CANCER SURVIVOR AND LIFE INSURANCE | 10/20/2008 |
| Q: I am 49 years old and approx 2 years ago I was diagnosed with kidney cancer and had surgery to ... A: Gordon, The policy with your old job is probably a "group" policy and is not transferrable. If you ... | |
| universal ife | 10/20/2008 |
| Q: i currently have a 3,025,400 dollar face amount of variable life with axa...i am 57 years of age the ... A: Robert, The question of whether the premiums will increase is based on the cash value. If you ... | |
| Life Insurance after the age of 60+ | 10/17/2008 |
| Q: my question is my father is 62yrs and does not have any life insurance. I am looking into several ... A: Nathalie, The best way to choose is to visit with an experience agent that you trust. Aside from ... | |
| life insurance payout | 10/14/2008 |
| Q: I actually have three questions. Let me explain my situation. My mother in law had a 20,000.00 life ... A: Carter, The check book is like a regular bank check book and is the standard method used to pay out ... | |
| life insurance payout | 10/10/2008 |
| Q: I actually have three questions. Let me explain my situation. My mother in law had a 20,000.00 life ... A: Carter, My first recommendation is to talk to HR people at your mother-in-law's company in regards ... | |
| Life Insurance and Funeral Payment | 9/23/2008 |
| Q: Can a funeral home demand payment, from a life insurance beneficiary, for the deceased's funeral ... A: Jill, The LI company must pay the beneficiary directly, and has nothing to do with any other ... | |
| insurance policies | 9/23/2008 |
| Q: i'm an student of mba. i want to know that are there any non-life insurance policies ... A: Ekta, I will be happy to answer your question, but I'm not sure I understand it. A life insurance ... | |
| Universal vs Term life | 8/21/2008 |
| Q: My wife and I just bought a Universal life insurance policy. We each have $100,000 in coverage. ... A: Bryan, You don't mention your age, but I'm guessing it's around 30. The short answer of the ... | |
| Life Insurance | 8/11/2008 |
| Q: What is the difference between Guaranteed Cash Value and (Net) cash value of my life insurance ... A: Patti, "Guaranteed Cash Value" is the cash value you will have, guaranteed, at the specific time in ... | |
| Life Insurance | 8/8/2008 |
| Q: My father in law recently passed away. He told my husband and his other children that they were all ... A: Jennine, For the life insurance policy, a claim to the insurance company must be completed. This ... | |
| LIFE INSURANCE | 8/5/2008 |
| Q: 000 cash value I was told i could get a loan pay it Or if close it the cash value i would be taxed ... A: Carolyn, What company is it? I've never heard of a 5/10 rule and I did a quick check to see if I ... | |
| LIFE INSURANCE | 8/5/2008 |
| Q: 000 cash value I was told i could get a loan pay it Or if close it the cash value i would be taxed ... A: Carolyn, I expect that if you only have $2,000 cash value, you will not have to pay taxes. Here's ... | |
| Life Insurance Questions | 7/23/2008 |
| Q: I'm curious as to how life insurance companies investigate FAMILY health history when doing a life ... A: Sue, Life insurance companies don't actually investigate family health history, other than asking ... | |
| insurance | 7/13/2008 |
| Q: i have always had life insurance, but have been unclear as to how they work. If for instance i ... A: Mike, The general idea is that if the policy is still "enforce" (insurance term that means "active" ... | |
| Life Insurance Policy | 7/10/2008 |
| Q: I took out a life insurance policy with AAA three years ago, It was a much higher premium than they ... A: Patty, I've never heard of an insurance company not telling you why they lowered your rating, which ... | |
| Life Insurance Claim Delay | 7/7/2008 |
| Q: I opened a life insurance policy on my mother after finding out that she did not have any life ... A: Tina, First, sorry about your loss. You need to be very careful as you proceed. During the first ... | |
| old life insurance policy | 7/2/2008 |
| Q: My parents took out a life insurance policy on me somewhere between 1956-1965. I no longer have the ... A: Kathleen, Go to http://www.mib.com/html/lost-life-insurance.html. I think it costs about $75 to ... | |
| What life insurance company is best for me? | 6/23/2008 |
| Q: I'm looking to purchase a life insurance policy and I'm clueless as to what company I should go to. ... A: Martha, Whole life is the "best", like a Lexus is the "best" car. It is great, what everyone wants ... | |
| Life insurance beneficiary | 6/16/2008 |
| Q: My husband and i were married ten years and were divorced amicably in March 2007. He was running in ... A: Cheryl, Your best bet is to contact a life insurance trained attorney. However, as non-legal ... | |
| transfer for value? | 6/11/2008 |
| Q: how can i get the cash value from 2 existing second to die policies into a new second to die policy, ... A: Brian, That's a deep question. It depends on your state and how they handle ILITs, as well as the ... | |
| executor and beneficiary are the same. | 6/10/2008 |
| Q: Can an estate executor be named sold beneficiary on a life insurance policy where it is believed ... A: Theus, No. The beneficiary receives the death benefit personally, not as an estate asset. ... | |
| Spousal Consent? | 5/22/2008 |
| Q: Can a person take out a life insurance policy out on a spouse without their permission? My sister's ... A: Bethany, It's not a spousal consent issue, but an "insured" issue. No one can take a policy out on ... | |
| Divorce&Life Insurance | 5/18/2008 |
| Q: Recently my Ex-Husband passed away. Unknown to me, he never changed the life insurance policy we ... A: Lynn, I'm not sure about the state of Pennsylvania, but in many states a divorce stops all ties ... | |
| Life Insurance of deceased relative | 5/12/2008 |
| Q: Greetings, I have just lost an uncle that was a military veteran. He was residing in a nursing home ... A: Quintin, If you go to www.mib.com and click on "consumer" you will find a method for finding lost ... | |
| Help with 2 questions | 5/11/2008 |
| Q: I am a 32 year old male with good health. I have a wife 36 and 3 young children. I am looking to ... A: John, If you're in good health, you're probably looking at about $75/month. $1,000,000 is about ... | |
| Insurance Policy owner passed away | 4/30/2008 |
| Q: My sister just passed away and I found a life insurance policy she brought for mom. My sister is ... A: Cam, First, as long as the premiums are being paid or the cash value of the policy covers the ... | |
| life insurance | 4/4/2008 |
| Q: my aunt recently past. Her policy was 23 1/2 months old. The insurance company is contesting the ... A: Monica, Sorry for the delay in responding. The best thing to do is to gather all of the ... | |
| ssd and life insurance | 2/26/2008 |
| Q: i am collecting ssd and am 36yrs old. my husband and i both have $100,000 WHOLE LIFE INSURANCE. my ... A: Tia, Oh no, that's yours. It is a benefit you receive from the US Gov. as long as you are ... | |
| ssd and life insurance | 2/22/2008 |
| Q: i am collecting ssd and am 36yrs old. my husband and i both have $100,000 WHOLE LIFE INSURANCE. my ... A: Tia, Regardless of whether your husband passes away, you should continue to receive SSD. Yes, the ... | |
| Life Insurance Beneficiary in California | 2/15/2008 |
| Q: Is it true that you must put your spouse as beneficiary on your life insurance in state of ... A: Rita, The specific difference is that this policy is provided by the company and most states have ... | |
| Hold or sell whole life policy? | 1/21/2008 |
| Q: Prudential Whole life started 1965 - $10k - $20k accidental. Many years ago, salesman talked me ... A: Jack, Actually, your current death benefit (based on how I read your initial question) is ... | |
| Hold or sell whole life policy? | 1/20/2008 |
| Q: Prudential Whole life started 1965 - $10k - $20k accidental. Many years ago, salesman talked me ... A: You probably were not snookered by the salesman. Prudential folks were generally very reputable and ... | |
| Insurance Benificiary vs Estate Executor | 1/3/2008 |
| Q: Can an estate executor have any claims to a sole benefiaries payout on a life insurance policy? The ... A: Christie, All items that have a beneficiary must be paid to that beneficiary. For example, in ... | |
| Trouble Obtaining a Death Certificate | 12/13/2007 |
| Q: My husband is trying to obtain a death certificate for his aunt who died a year ago for a life ... A: Tina, As in most states, New York (or the city of Buffalo) will provide a death certificate to ... | |
| Trouble Obtaining a Death Certificate | 12/13/2007 |
| Q: My husband is trying to obtain a death certificate for his aunt who died a year ago for a life ... A: Tina, I am not sure if I understand the question properly. The death certificate is provided by a ... | |
| life/healt insurance | 12/1/2007 |
| Q: Recently I was offered an insurance product. It was unit-linked type where it's investment and at ... A: Henry, Unfortunately, no one can answer your question without sitting down with you. There are ... | |
| Life Insurance | 11/14/2007 |
| Q: Both of my parents are over age 70.They are divorced and both live in South Carolina. I recently ... A: Jean, It would probably be expensive to purchase life insurance on them at this age, and it is ... | |
| COBRA INSURANCE | 11/6/2007 |
| Q: Greetings. My wife is pregnent now. She is due for delivery in April 2008. I am changing my ... A: Kish, Please accept my humblest apology for not responding more quickly. For some reason, I did ... | |
| COBRA INSURANCE | 11/6/2007 |
| Q: Greetings. My wife is pregnent now. She is due for delivery in April 2008. I am changing my ... A: Kish, COBRA is generally only used when you lose your job and have no other option for insurance. ... | |
| life insurance | 10/4/2007 |
| Q: 2 people own a business together and have life insurance policies where the other is the ... A: Brian, (I am assuming these are permanent policies with cash value above the paid in premiums.) ... | |
| unwanted life insurance | 10/1/2007 |
| Q: My father, who I do not have a relationship with and hate, claims he has a whole life policy on me ... A: Generally, there is nothing you can do. While I'm not aware of the specifics of Canadian law, they ... | |
| Getting Out of the Military--- How do I get insurance? | 10/1/2007 |
| Q: I am planning on getting out of the military after 7 years next year. I just got married and I have ... A: Obtaining life or medical insurance is very easy. First, generally, if you begin working for a ... | |
| unwanted life insurance | 9/30/2007 |
| Q: My father, who I do not have a relationship with and hate, claims he has a whole life policy on me ... A: Tera, Unfortunately, there is no way for you to do anything about the existing policy. However, I ... | |
| LIFE INSURANCE | 9/1/2007 |
| Q: I'M 27 YEARS MALE PERFECT HEALTH NON SMOKER I LIKE TO BUY LIFE INSURANCE BUT I DON'T KNOW WERE AND ... A: Enes, While I do not agree with much that Suzie Orman says, Select Quote is probably a good place ... | |
| Life Insc. | 8/30/2007 |
| Q: When a person dies, does their life insurance proceeds go directly to the beneficiary or is it ... A: Charles, "yes". :) Under a non-estate tax planned death, the proceeds will go directly to the ... | |
| term lfie insurance and estate planning | 8/24/2007 |
| Q: Can term life insurance be used in place of long term care insurance? For instance, lets say a ... A: John, Generally, you would not use term life insurance as a replacement for LTCi. Here's why: ... | |
| My mothers life insurance | 7/20/2007 |
| Q: My mom told me that my sister & brother took out a life insurance policy on her without her ... A: I'm sorry to hear about your mother. She may have misunderstood what your sister and brother were ... | |
| Life Insurance Policy | 7/6/2007 |
| Q: Leboyd: Me and a close friend of mine were going to open up our own engineering company. Due to the ... A: Robert, I'm very sorry to here about your partner. When a life insurance policy is written, and ... | |
| Globe Life Insurance | 6/29/2007 |
| Q: My father has a policy on me from 1984 til current 2007. The company told him that at the age of 25 ... A: Unfortunately, the name of the policy is not necessarily a good indicator of how well it will ... | |
| Globe Life Insurance | 6/28/2007 |
| Q: My father has a policy on me from 1984 til current 2007. The company told him that at the age of 25 ... A: Jemita, Without looking at the policy, it is difficult to say whether there is cash value or not. ... | |
| Lower premiums-higher deductible long-term policy? | 4/26/2007 |
| Q: Are there long-term (nursing home) policies that have deductibles? If my wife or I needed long-term ... A: Steve, I don't know your age, but the $50,000 that you have set aside for care would typically buy ... | |
| Life Insurance | 3/23/2007 |
| Q: I have surrendered a life insurance policy with cash value of approx 20,000.00 It has been three ... A: Pat, Generally, each state will have it's own laws, if any. The first thing I would recommend is ... | |
| Father-in-law's death | 3/19/2007 |
| Q: Yesterday my father-in-law passed away. He was a truck driver and he was in Salt Lake City, Utah. ... A: Laura, Sorry about the passing of your father-in-law. Unfortunately, trying to find out about life ... | |
| drawing down cash value of Universal Life | 3/11/2007 |
| Q: My folks have a universal life insurance policy on my 82 year old grandma. The current cash value ... A: Riley, First, let me apologize for being late in responding. For some reason the message went to ... | |
| Life Insurance | 2/5/2007 |
| Q: The owner/beneficiary(aunt)lives in Oregon. The insured (nephew)lives across the river in ... A: Dale, The best thing to do is to get with an experienced life insurance person in Oregon. I know ... | |
| Life Insurance | 2/5/2007 |
| Q: So how does the insured claim the ownership of the policy if it (with a large cash value) is left in ... A: Dale, As a follow up to your closing remarks, you might be pleasantly surprised about what an agent ... | |
| Life Insurance | 2/4/2007 |
| Q: If the owner/beneficiary of a life policy dies, what does the insured need to do to claim the ... A: This question is more complicated than you might initial think. If I assume that the policy is a ... | |
| Life Insurance Policy on my elderly Mother | 1/21/2007 |
| Q: My Father passed away 30 years ago. He was very wise in setting up finances to care for my now ... A: The first place I would start is the the consumer help 800 number with your state. Some states can ... | |
Life & Health Insurance
Answers by Expert:
leboyd
Top Expert on this page
Expertise
I can answer questions relating to life insurance, estate planning, business succession/continuity planning and tax-effecient retirement planning. I have advised clients for many years on these areas, and how they relate to life insurance. Likewise, I have worked with many on Long-Term Care needs.
Experience
I have been a top producer for the past 5 years. Prior to that I was the CEO of an international company, having the concerns from a clients perspective (now having been a client of NYL for more than 15 years)
Organizations
Society of Financial Services Professional
Million Dollar Round Table
Education/Credentials
In addition to an BBA and an MBA from a top-10 school. I have earned the LUTCF, NASD Series 6, 7, 63 and 66 licenses.
Awards and Honors
Top Life Producer
Top Long-Term Care Producer
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