Tax Day Freebies!

Taxes can be a real pain in the backside, especially in the pocket where you keep your wallet. To help soothe the bumps and bruises you suffer through on April 15, several businesses are offering taxpayers a special consolation prize.

Tax bite got you down?  Sink your teeth into a free taco from Taco Del Mar on April 15 when you share your name, email, and zip code. You can opt out of getting their newsletter anytime.

Did tax preparation keep you up late?  Get a free cup of coffee to stay alert at Starbucks when you bring in your own reusable mug on April 15.

Whether or not your tax return has a sweet deduction, you can take home two free cupcake bites from Cinnabon from 6 p.m. to 8 p.m. on April 15. While supplies last.

To help put you back in the chips, select Subway restaurants are offering free cookies on April 15. Your local store and mileage may vary.

In the Southeast, select Whole Foods stores are making April 15 a tax-free shopping day. So far stores in AL, GA, NC, SC, and TN are participating. Check Whole Foods website for details on the April 15 event.

For a less taxing deal on life insurance, both this day and all year long, get a free life insurance rate quote from Efinancial.

Happy Tax Day, readers! Now enjoy your just desserts!

American Optimism Is On the Rise!

Northwestern Mutual’s Optimism Barometer Suggests Americans Have Adjusted to the Near-Term Challenges of the ‘New Normal,’ and are Increasingly Optimistic About their Long-Term Prospects

The latest results collected from Northwestern Mutual’s Optimism Barometer – an online measurement tool– indicate a distinct upward trend in positive outlooks among Americans, despite the near-term challenges of the current economic climate. Most notably, recent data has revealed a 60% year-over-year jump in people who scored at the highest end of the optimism scale.

These results suggest that Americans are, in increasing numbers, accepting the reality of the ‘New Normal’ while also being able to see beyond the immediate challenges of the current economic cycle and remain optimistic about their long-term prospects, said Northwestern Mutual. “We find it encouraging that Americans appear to be widening their time horizons and bringing a long-term approach to how they pursue their goals. It’s something at the very core of what we believe in, and aim to deliver through our process; and it’s a strategy that also has broad applications beyond finances in people’s lives.”

The Optimism Barometer consists of six short questions that take less than a minute to complete. The questions were culled from The American Reality Study, which was commissioned in 2009 by Northwestern Mutual to help provide insight into how Americans are handling the economic, political, and social changes taking place in the United States; and to gain valuable perspectives on the way people view their lives and their future.

In the first quarter of 2009, only 25 percent of Americans scored between 8-10 (out of 10) on the optimism scale. Today, nearly 40 percent (39.7%) scored between 8-10, representing a 60% year-over-year increase in people at the highest end of the scale.

Additionally, it is not only the most optimistic among us that saw increases. Optimism shifted up in all categories, leaving only 2.4 percent of total respondents in the “least optimistic” category (0-4 on the optimism scale) versus 19 percent last year.

Innovative Small Business Retirement Plans Proposed by Prudential

“Multiple Small Employer Plans” Could Provide Access to Retirement Plans for 78 Million Uncovered Workers

Nearly half of America’s workforce — some 78 million workers — lack access to a workplace-provided retirement savings plan.  Now, Prudential, recently ranked No. 2 among FORTUNE® magazine’s ‘World’s Most Admired Companies’, is recommending that Congress support a simple yet effective new solution.

According to a white paper released this week by Prudential Financial, more than 30 million of those uncovered employees work for a business that has fewer than 100 employees. Prudential is advocating a new solution, the Multiple Small Employer Plan (MSEP), to meet the retirement savings needs of these workers by enabling small employers to join together to offer a single retirement program.

“We believe that all working Americans should have the opportunity to participate in a workplace-sponsored retirement plan. MSEPs would bring additional choice to the small business end of the market, allowing small businesses to choose the option that best meets their objectives and the needs of their workforce.”

Innovative Retirement Benefits for Small Employers >>

You Don’t Have to be a Rock Star to Take Advantage of Life Insurance for Estate Planning…But it Helps!

What does former rock star Gene Simmons (of the band better known as KISS), have to do with life insurance? Here’s a clue: rock stars, like professional athletes, entertainers and other celebrities, occupy the elevated station of “high net worth individuals.”

“All of those who have worked hard to become high worth individuals want to  maximize our estates for our loved ones. It’s your responsibility to find out everything you can about your life insurance strategy,” said the lead singer.

Why is life insurance a smart strategy for the estate planning of those who want to pass their fortune onto their heirs?

Estate tax legislation is coming, said Simmons. “The president,  who I voted into power, is within a year, going to be raising estate taxes [as high as] 55%,” said Simmons.

Cool Springs Life has been created to help individuals minimize estate taxes and provide greater financial  security for their family by financing a disbursement amount secured by their insurance policy. The amount would  be sufficient to fund all their life insurance premiums and all interest payments and other costs associated with this transaction at extremely low interest rates

“Our substantially lower borrowing costs allows this crossover event and release of your collateral to occur years earlier than traditional financing plans currently offered anywhere,” offers the CoolSprings Web site at Coolsprings.com.

This could be our freshest recollection of a rock icon expressing the sentiment, “Life Insurance…You rock!”

Efinancial offers special Life Insurance Estate Planning account services in this area. Just ask us!

World’s Biggest Insurance Transaction: AIG Gives Up Asia Insurance Market to Repay Bailouts

In what is the insurance industry’s biggest acquisition in history, Prudential is buying American International Assurance’s Asia organization in the deal of the decade, a bet on the soaring demand in Asia for personal financial services.

The beleaguered American International Group Inc. will give up a cornerstone of its business, the part of it that represents the whole of the Asian insurance marketplace, in a government-approved deal worth a shattering $35.5 billion. The sale could reduce by nearly one-fifth the amount of federal bailout money still invested in struggling AIG.

The cash proceeds of the sale would allow AIG to pay back nearly 20 percent of the almost $130 billion in bailout funds that are outstanding. Together with an anticipated sale of American Life Insurance Co., or Alico, to MetLife Inc., the sale could net enough to eventually cover the Federal Reserve Bank of New York’s $47.9 billion investment in AIG.

With the purchase, Prudential is giving investors a chance to profit from Asian consumers’ growing use of financial services. As the region’s economic growth continues, so will the need for Prudential’s business.

Whole Life’s New Lease: Beating Financial Crisis!

This is NOT your father’s, or your grandfather’s, Whole Life Insurance, says  The Wall Street Journal. The old gray mare of life insurance — whole-life insurance — was “a shining star during the financial crisis.”

“Thanks to conservative investments in bonds, whole life—and its cousin, universal life—delivered positive returns during the financial crisis,” reports the financial news beacon.

But before you ride off with a new policy, realize that whole life is a horse of a different oolor compared to term life insurance. Because it is a permanent, long-term, investment-oriented account,  new buyers will typically face stiff start-up costs and up-front commissions that soak up most of the first-year’s premium, well before the policy’s investment performance gets growing.

Term life is still the “default recommendation” for most consumers, particularly those on tight budgets, remarked James Hunt, an actuary with the Consumer Federation of America.

Under a whole-life or universal-life policy, the insurer deposits your premium, less insurance costs and other expenses, into a “cash value” account. Insurers typically promise minimum interest payments of 3% to 4%.

Could Whole Life Be RIght for You? Read on for more! >>>

eHealth Launches New Life Insurance Product Offering

eHealth, parent company of eHealthInsurance, an online source of health insurance for individuals, families, and small businesses, has launched a new life insurance product offering, which allows consumers to research and comparison shop for life insurance.

According to eHealth, the new offering allows consumers to conduct side-by-side comparisons of quotes and life insurance policy benefits. Through a referral partnership with Seattle-based Efinancial, the company was able to launch its life insurance offering with range of products from life insurance providers.

According to eHealth, the new offering allows consumers to conduct side-by-side comparisons of quotes and life insurance policy benefits. Through a referral partnership with Seattle-based Efinancial, the company was able to launch its life insurance offering with range of products from life insurance providers.

The new offering gives consumers access to various life insurance policies including underwritten policies, which require a medical review; guaranteed issue policies, which are available without a medical review or health questionnaire; and issue policies, which can be applied for and approved online in a single online insurance application session by answering a few basic health questions.

In addition, the company also provides phone support, with access to Efinancial’s agents to answer any life insurance policy-related questions.

Haiti’s Absence of Private Insurance, A Tragedy in Itself

Second in a Series of Posts on the Haitian Earthquake Tragedy and Insurance

The magnitude-7 earthquake that struck just outside Haiti’s capital, killing many, and causing untold  property damage will cost hundreds of millions to repair. But most private insurers will pay little in claims, because the private insurance market is almost non-existent in developing countries such as Haiti.

“Insured losses will be minimal, despite the severity of the event,” said Robert P. Hartwig, president of the Insurance Information Institute, in a Wednesday interview. “The reason is that Haiti is one of the poorest countries in the world, with very little private insurance.”

What CAN and IS being done to offset the lack of insurance >>>

Could Haiti Have Insured Against Earthquake Catastrophe? It did!

According to the World Bank’s Natural Disaster Hotspot study, Haiti is one of the countries most vulnerable to adverse natural events.  The country’s weak infrastructure, degraded environment, and history of ineffective governments with serious fiscal problems all converge to magnify the size and scope of a natural disaster.

This was clearly displayed during the 2004 hurricane season when over 5,000 Haitians lost their lives following Tropical Storm Jeanne, and in 2008 when Tropical Storm Fay and Hurricanes Gustav, Hanna and Ike inflicted damages estimated at about US$900 million, or around 15 percent of GDP.

The earthquake disaster which has struck Haiti in 2010 has dwarfed even those staggering figures.

Could Haiti have been insured against this magnitude of loss? >>>

New Investimonials Website Taps the Wisdom of the Crowd

Can the new age of social media and “crowdsourcing” ensure better investment advice? A Website that works more like Digg or StumbleUpon than MarketWatch lets the voice of the people be heard loud and clear.

At Efinancial, we know that getting only one point of view or learning about just one product or company is as limiting as “tunnel vision.”  After all, you can’t choose the right financial value if you don’t have a choice.  The same idea goes for Investimonials.  The goal of the social site is to help users cut through the “spammy” or ” scammy”  financial sites that litter the web, by offering a comprehensive hub of user reviews for each product.

The Best Investment Advice Voted on by Your Peers >>>

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