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Title: New Life Insurance Investment Advisor: Achieving Financial Security for You and your Family Through Today's Insurance Products by Ben Baldwin ISBN: 0-07-136364-5 Publisher: McGraw-Hill Trade Pub. Date: 25 July, 2001 Format: Hardcover Volumes: 1 List Price(USD): $29.95 |
Average Customer Rating: 4.08 (13 reviews)
Rating: 5
Summary: Great book for industry professionals as well as investors
Comment: This book is a must own for any financial services professional as well as any investor. Ben Baldwin takes the new investor through the basics of financial planning, teaches about mutual funds, life insurance, annuities in an easy to understand way pointing out the pros and cons of each product. Originally one of the fiercest detractors of variable products, Ben Baldwin was open minded enough to take a serious look and study variable products. His volte-face is as impressive as his credentials. To those who keep claiming that variable products are expensive, fee ridden products, maybe you should really open your mind and study these products. You might even change your mind and realize maybe is knows something you don't, that VUL might actually be the swiss army knife of financial planning.
Rating: 2
Summary: It's like an insurance salesman in your living room.
Comment: 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.
Rating: 2
Summary: Decent
Comment: 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!
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Title: Guaranteed Income for Life: How Variable Annuities can Cut Your Taxes, Pay You Every Year of Your Life, and Bring You Financial Peace of Mind by Michael Lane, Michael F. Lane ISBN: 0070382972 Publisher: McGraw-Hill Trade Pub. Date: 01 August, 1998 List Price(USD): $22.95 |
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Title: The Complete Idiot's Guide to Buying Insurance and Annuities by Brian H. Breuel, Brian Breuel ISBN: 0028611136 Publisher: Alpha Books Pub. Date: 23 August, 1996 List Price(USD): $16.95 |
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Title: Getting Started in Annuities (Getting Started In.....) by Gordon K. Williamson ISBN: 0471283037 Publisher: Wiley Pub. Date: 23 October, 1998 List Price(USD): $19.95 |
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Title: Insurance for Dummies by Jack Hungelmann ISBN: 0764552945 Publisher: For Dummies Pub. Date: 22 January, 2001 List Price(USD): $21.99 |
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Title: Million Dollar Prospecting Techniques (MILLION DOLLAR ROUND TABLE) by Million Dollar Round Table Center for Productivity ISBN: 0471325503 Publisher: Wiley Pub. Date: 10 September, 1999 List Price(USD): $19.95 |
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