Client Success Stories

1) In serving the financial planning needs of a married couple, we completed a debt assessment.  In reviewing their finances, we advised to consolidate higher interest debt (along with the higher interest mortgage) into one, lower rate mortgage.

In delivering our services, we met the couple at the mortgage company to assist in analyzing the best product to utilize.  (Yes, we accompanied them there!).  After all was said and done, we freed up over $920 dollars in cash flow a month, reduced 5 payments into one, reduced the rate on the original mortgage from 6.25% to 4.50% (and reduced credit card interest rates of 18% to 22% into the tax-deductible rate of 4.50%).

Also, the clients agreed to reduce the volume of credit cards they hold and are utilizing the extra cash flow to allocate to savings and to allocate to principal pay downs on the mortgage!

 

2) During our Insurance Assessment for a married couple, we reviewed their life insurance policies.  Husband had two policies and wife had 3 policies.  We leveraged our relationship with Ash Brokerage, Inc. and submitted requests from insurance companies for offers to restructure their policies by leveraging the cash value of the policies.

Once completed, we were able to consolidate the five policies into 2 (one for each client).  We were also able to eliminate any future premiums, guarantee the policies through age 120 for each person and were able to increase the death benefits.

In summary, we were able to save the clients over $30,000 in upcoming premiums AND we were able to increase their death benefits by a total of over $110,000!  Thus, bringing a total extra value to them of over $140,000!

 

3) While providing comprehensive financial planning to a client, the client shared with TKM that an insurance agent had recommended the client purchasing (using cash out of the client’s pocket) a $200,000 lump-sum long-term care strategy.
After conducting a thorough review of the client’s entire financial situation, in conjunction with establishing the client’s values and running various “what-if” scenarios, the decision was made to leverage a current asset of the client’s (a $65,000 fixed annuity via a 1035 Exchange) and add $35,000 to the strategy.  This provided the client with an instant, substantial bucket of long-term care insurance and saved the client roughly $165,000 of out-of-pocket cash!
Note that the long-term care strategy instituted has cash value, thus if no long-term care benefits are utilized, the client will receive the bulk of the $100,000 (total amount of money put into the strategy) back in the form of a death benefit.  Either way, the client WILL RECEIVE benefit for the dollars utilized for the long-term care strategy!”