Steve Kobrin

LUTCF
Small Business, Insurance, Lifestage Based Planning
93%
Helpful
180
Answers
25
Articles
89
Followers
“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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Most Helpful
March 2017
    Executive Compensation, Exit Strategy, Life Insurance
February 2017
    Estate Planning, Insurance, Life Insurance
April 2017
    End of Life, Retirement Living, Senior Care
April 2017
    Insurance, Life Insurance
April 2017
    End of Life, Insurance

All Answers
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    Taxes, Insurance, Life Insurance
I have two whole life insurance policies; my payments are low and a portion of the premiums are paid by returns. Should I continue making payments on the plans until I die, or should I cash out at 59.5 years old?
100% of people found this answer helpful

There's a lot going on here. Let me try to break it down according to the various concerns you might have:

Need for the benefit

Sure, you have enough invested; but how much of it is liquid? With these two policies, your beneficiary could get $100,000 within a week or so. Would that money be needed? You don't want them to have to liquidate invested assets prematurely.

Taxation

To make this decision, it would help you to know exactly how much tax would be due upon surrender. The carrier would be able to tell you the cost basis of each policy. You would then be taxed on the difference between that amount, and the cash surrender amount.

Future insurability

51 is comparatively young. Are you absolutely certain you will never need life insurance again for the future decades of your life? If you do, then the cost will certainly be much higher than what you're paying now; plus, you can't assume you will always be eligible for the lowest rate.

 

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