{"id":295681,"date":"2004-10-13T15:30:00","date_gmt":"2004-10-13T20:30:00","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/uncategorized\/transamerica-adds-estate-preservation-strategy-to-monarch-tools\/"},"modified":"2004-10-13T15:30:00","modified_gmt":"2004-10-13T20:30:00","slug":"transamerica-adds-estate-preservation-strategy-to-monarch-tools","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/industry-news\/transamerica-adds-estate-preservation-strategy-to-monarch-tools\/","title":{"rendered":"Transamerica adds estate preservation strategy to Monarch tools"},"content":{"rendered":"<p>Transamerica Life Canada has added an estate preservation strategy to the Monarch series of solutions, which ties life insurance strategies, products and administrative support, together with a consultative approach. <BR><BR>The series, launched in August 2004, strives to provide independent insurance advisors with tailored client solutions that are optimized throughout every stage of the client’s life.<BR><BR>\u201cThe Estate Preservation Strategy is an ideal solution for independent insurance advisors to approach their baby boomer clients, providing them with a way to protect the assets they’ve built up over their lifetime,\u201d says Joe Kordovi, avp and pricing actuary, life marketing and product development, Transamerica Life Management.<BR><BR>\u201cThe advisor might want to help clients preserve cherished assets like the family cottage, a farm, or a home,\u201d he explains, \u201cand the Estate Preservation Strategy is a sound way to show them what could happen to these assets if they were to die today, or at any point in the future without proper financial planning.\u201d<BR><BR>The estate preservation strategy assists the independent insurance advisor to concentrate client discussions around:<\/p>\n<ul>\n<li> increasing a client’s after-tax estate value for their heirs;\n<li>growing the client’s assets within a tax-sheltered investment vehicle;\n<li>avoiding probate, legal and executor fees in respect of the insurance proceeds;\n<li> potentially protecting assets within an insurance policy from creditors; and\n<li>reducing the cost of a couple’s life insurance protection through a joint life policy.<\/ul>\n<p>According to Transamerica Life Canada, the client best suited for the estate preservation strategy has a need to protect the proceeds of his or her estate from taxation when they can’t be rolled over to a spouse or infirm dependent, explains Mitchell Singer, avp tax and estate planning. \u201cThey are 50 years of age or older with sizeable personally-owned assets such as stocks funds, and real estate as well as a large RRSP. Most will have assets that hold sentimental value to heirs, like a family cottage, that they would not want to be liquidated or mortgaged to pay any taxes triggered.\u201d<BR><BR>The estate preservation strategy incorporates tools such as a worksheet to record an estimate of taxes and charges, and illustration software, which gives clients a potentially startling look at the realities of taxation while illustrating the best solution.<BR><BR>The strategy is realized through Transamerica Life Canada’s enhanced universal life insurance plan, or alternatively through, a permanent life insurance plan. Both products were re-priced in May 2004.<BR><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Transamerica Life Canada has added an estate preservation strategy to the Monarch series of solutions, which ties life insurance strategies, products and administrative support, together with a consultative approach. The series, launched in August 2004, strives to provide independent insurance advisors with tailored client solutions that are optimized throughout every stage of the client’s life.\u201cThe […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2318],"tags":[],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/295681"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=295681"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/295681\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=295681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=295681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=295681"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=295681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}