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Experts in Longevity Analysis
- Customized Longevity
Planning Reports/CLPR
- Life Expectancy Certificates
- Senior Mortality Data
- Policy Tracking
- Custom Services
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Planning Questions
The CLPR Helps Answer
How can you use the results of your client’s longevity report to help you make a
better financial plan? There are many possible ways.
Here we list 42 planning questions the CLPR can help answer, adapted with permission
from an article by well-known financial planning and tax expert Stephan R. Leimberg,
Esq. The article, “Life Expectancy Analysis: Planning Tool of the Future Is Here
Now,” was published in the September 2008 issue of
The Estate Planning Journal. Click here to download the full article.
RETIREMENT AND FINANCIAL PLANNING:
- Will my client’s wealth last as long as my client?
- How much money will my client need at retirement?
- How long will that money have to last?
- When should my client start taking social security benefits? (Should my client start
taking social security before full retirement age?)
- Should my client be considering an annuity?
- Should my client investigate a substandard annuity, and can an LCR [longevity curve
report] help to bargain for a better rate or higher income?
- When should my client start making withdrawals from an annuity or qualified plan
or IRA?
- Should my client take a lump sum rather than annuity payments from the retirement
plan?
- Should I recommend my client retire (earlier)(later) knowing his/her life expectancy?
- Can my client afford to (afford not to) make significant charitable gifts now?
- Is the concept of “pension maximization” a viable consideration in my client’s situation?
- If my client has to go into a nursing home, what terms – based on his/her life expectancy
– are reasonable, and at what point do the economics no longer make sense?
- Should my client’s relatively short life expectancy be viewed positively as a signal
(“permission?”) to use more income/capital currently?
- Should my client’s money be invested in securities with maturities that more closely
match his/ her lifespan probabilities?
- Taking into consideration my client’s life expectancy, is his/her portfolio properly
balanced for income/growth?
- Should my client be making shorter term, higher income producing investments?
LIFE INSURANCE PLANNING
- Should my client be converting his/her term to some type of permanent coverage?
- Should the conversion be done now or at some later date?
- Should my client who has health problems purchase credit life insurance at the time
he/she is applying for a loan/mortgage?
- Should my client, who has health problems, buy all the association/group term life
coverage possible?
- Should a term policy be cancelled and a second to die policy be obtained?
- Does my client’s (short)(long) life expectancy indicate the desirability/appropriateness
of a different type of insurance policy/portfolio?
- Should my client be purchasing term or permanent coverage?
- Should my client buy the life insurance he/she is contemplating – even though he/she
will have to pay a rating?
- How should I react when my client asks me to plan for her to live to age X?
LONG-TERM CARE PLANNING
- Is there a realistic need for long-term care insurance, i.e., how likely is my client
to live to an age where protecting assets for the survivor of a couple and/or for
future generations is important?
- How much money is my client likely to need – based on his probable life expectancy?
ESTATE PLANNING
- Given my client’s (short)(long) life expectancy, how time-critical is it to draft
the documents, get them signed, and otherwise complete the contemplated plan?
- What changes should be made in the plan knowing how (short)(long) my client is likely
to live?
- How long will assets in a trust have to last to provide for an adult child? A spouse?
- Over how many years is an estate likely to appreciate during my client’s lifetime
– and how large is the estate (and estate tax burden) likely to be?
- What is the likelihood that my client will survive the term of the GRAT or QPRT
I am setting up?
- What is the viability of a SCIN or Private Annuity in light of my client’s probable
life expectancy?
- What are the economics of a life estate? Remainder interest? Annuity interest?
- Should my client accelerate a gift-giving program?
LIFE SETTLEMENT PLANNING
- Should my client “hold” (retain) or “fold” (sell) currently owned life insurance?
- What is the impact on the hold-fold decision if my client’s life expectancy is much
(shorter) (longer) than he/she thought?
- Is the life expectancy my client has been given by a company willing to buy his/her
life insurance a reasonably accurate number?
CHARITABLE PLANNING
- Does a gift annuity make economic sense for my client?
- How much payback can my client anticipate from a CRAT or CRUT?
BUY-SELL PLANNING
- How should I structure this buy-sell, and what logical assumptions about the survivorship
of the owners should I make in drafting it?
DIVORCE PLANNING
- Is the split-up of pension assets entirely unfair to one of the parties? (Is the
longevity assumed grossly misleading so that the actuarial calculations improperly
divide assets?)
Explore these topics on the CLPR
and its fit with financial planning:
CLPR introductory video by 21st Services
co-founder Paul Kirkman
CLPR introductory
message
What is a CLPR?
10 Reasons to Use the CLPR to Help You Plan
Two Financial Planning Case Studies
Sample Planning Strategies Based on the Longevity
Curve
The Experts Comment on the Longevity Curve and Financial
Planning
The Science of Life Expectancy at 21st Services
Our Medically Based
Longevity Report vs. the Free Online Calculators
Q&A
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