Broker Check

Minneapolis Office

150 South 5th Street, Suite 3300

Minneapolis, MN 55402


With access to over 30 of the strongest life insurance companies in the world, we can provide competitive rates in the industry. Life insurance policies should be reviewed just like any other financial asset. 
Have the Reynolds Woog Team check the performance. 

Request a Quote or a Policy Review


Life Insurance Review 
Eight Common Errors


1 | OWNERSHIP DESIGNATIONS: Life insurance death benefits are taxable to the estate without proper planning. Under the existing estate tax laws, up to 47% of life insurance death benefits may be lost.

2 | INSURED DESIGNATIONS: Single life policies are suitable for family protection and funding buy-sell agreements, while second to die policies are more efficient designations for family wealth transfer.

3 | POLICY REVIEW: Certain policy benefits are subject to interest rate variations while other policy benefits are subject to performance of equity based sub-accounts.Timely policy review of originally projected performance will verify historical performance and prevent lapsing of the policy benefits.

4 | CASH VALUE/DEATH BENEFIT RATIOS: Cash values of life insurance policies are generally retained by the issuing life insurance company when death benefits are paid. A 1035 Tax Free Exchange may be an effective method to increase death benefits.

5 | ADMINISTRATIVE AND MORTALITY EXPENSES: Older existing policies may reflect higher administrative and mortality expenses. Competition among life insurance companies and extended life expectancies have reduced associated costs substantially in recent years.

6 | BENEFICIARY DESIGNATIONS: Life insurance death benefits are subject to estate taxes without proper beneficiary designations. Under existing estate tax laws up to 47% tax may result from incorrect beneficiary designations.

7 | PAYMENT OF PREMIUMS: Life insurance death benefits may be subject to estate taxes if the insured is directly paying the life insurance premiums.

8 | POLICY SELECTION CRITERIA: Some life insurance policies are designed to be cost efficient for the short term to meet short term needs, while others are designed to fund long term or wealth transfer needs. Over the years clients may have realized substantial growth in net worth, and may benefit substantially from a review of their original policy design to make sure it is still meets your needs.


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