Steve Kobrin

LUTCF
Small Business, Insurance, Lifestage Based Planning
94%
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173
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“As an independent life insurance broker, Steve Kobrin specializes in helping people considered high risk and uninsurable.”
Firm:

The firm of Steven H. Kobrin, LUTCF

Job Title:

Owner

Biography:

I am second generation in the life insurance business, and have brought our local general agency on to the national stage.  In doing so, my team and I have created an independent brokerage with a truly unique platform of services, for both consumers and their advisors. These include:

* A policy for virtually every applicant, from preferred risk to high-risk. 

* Applications approved at the rate quoted

* Complementary policy audits for all clients to ensure optimum product performance.

When I am away from my desk, I am spending time with my family, especially my darling granddaughter. I am a serious martial arts practitioner, as well as a student of philosophy, religion, and psychology.

Education:

BA in Liberal Arts

CRD Number:

5923138

Disclaimer:

I am licensed to sell life insurance in every state except Alaska and Hawaii.

All Articles
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February 2017
    Estate Planning, Insurance, Life Insurance
March 2017
    Executive Compensation, Exit Strategy, Life Insurance
June 2017
    Insurance
April 2017
    End of Life, Insurance
last month
    Personal Finance, Small Business

All Answers
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    Debt, Insurance
How can I borrow money from my life insurance policy?
96% of people found this answer helpful

You can borrow money from life insurance, that has a cash account for use, while the insured is alive. But you need to make sure you understand how these products work so that doing so doesn't backfire on you. Here are three pitfalls to avoid when you take cash out of life insurance:

1) Don't reduce the death benefit

Remember, life insurance is first and foremost a sum of money to take care of your heirs, estate, business, favorite charity, and all others who will carry on your legacy.

Taking money out of the life insurance policy while you are alive could very well reduce the survivor benefit. You don't want to short-change the beneficiary.

2) Don't tamper with the guarantee

Permanent insurance can have the unique feature of guaranteeing your coverage for the rest of your life. These guarantees are based on certain assumptions. Chief among these are that you will stick to a premium-paying schedule, and will keep the cash accumulating at a certain level.

If you take cash out of the policy, you may deplete the cash needed in the policy to ensure the guarantee. The coverage may not last as long as you want.

3) Don't force yourself to pay additional money

Some permanent policies will even ensure the guarantee when you take out cash. But the cost of providing you that guarantee will have to be covered somehow. They very well could ask you for additional premium payments to pick up the difference.

If they do this, then you will be paying more money into the policy than expected.

The moral of the story is this: get an understanding of what you want to use life insurance for – both the living and the death benefit – and make sure you are informed about the ramifications of tinkering with that strategy.

Please feel free to reach out to me with any additional questions.

December 2016
    Life Insurance
Do beneficiaries pay taxes on life insurance?
94% of people found this answer helpful
December 2016
    Annuities
What is an annuity?
93% of people found this answer helpful
February 2017
    Life Insurance
What is a collateral assignment of life insurance?
91% of people found this answer helpful
December 2016
    Insurance
What is a convertible insurance policy?
91% of people found this answer helpful
December 2016