Bill O'Quin, CLU, ChFC, RFC

Bill O'Quin, CLU, ChFC, RFC

Bill is a 40-year veteran of the insurance and financial services industry. He is publisher of The Virtual Assistant, The Virtual Library and The Field Library, the most comprehensive support tools in the industry. is a complete library of point-of-sale presentations, one-pagers, calculators, reference books and more that supports producers regardless of their practice specialty, distribution channel or career stage. He can be contacted at boquin (at) fsonline (dot) com.

March 11, 2015

Startling Facts About Long-Term Care

Medicare does not pay for long-term care services, as explained by the Social Security Administration: “Social Security pays retirement, disability, family and survivors benefits. Medicare, a separate program run by the Centers for Medicare & Medicaid Services, helps pay for inpatient hospital care, nursing care, doctors’ fees, drugs, and other medical services and supplies to people age 65 and older, as well as to people who have been receiving Social Security disability benefits for two years or more. Medicare does not pay for long-term care, so you may want to consider options for private insurance (emphasis added).”

Without proper planning, a serious accident or illness could rob you of your financial independence. Whether purchased for yourself, your spouse or for an aging parent, long-term care insurance can help protect assets accumulated over a lifetime from the ravages of long-term care costs.

Read more

January 12, 2015

The Cost of Delaying Saving for Retirement

If you saved a $100 a month, the difference in what you would have at age 65 (assuming a hypothetical 5% rate of return, which will vary over time, particularly for long-term investments) if you started at age 20 would be more than double the amount if you started 15 years later.

Read more

October 23, 2014

3 Ways to Help a Charity With a Gift of Life Insurance

Regardless of your reasons for giving, a gift of life insurance can represent a substantial future gift to a favorite charity at relatively little cost to you. There are several ways you can accomplish that:

1. Make a charity the beneficiary of an existing policy: If you have a life insurance policy you no longer need to support your partner or family, you can name a charity as the beneficiary of the policy, meaning that the charity will receive the policy’s death benefit when you die. While there are no current tax benefits to this approach, the value of the policy will be removed from your estate for federal estate tax purposes.

Read more

July 14, 2014

Here’s Why You Should Consider Long-Term Care Insurance

Without long-term care insurance to help meet the cost of needed long-term care services, you run the risk of depleting a lifetime of savings. With long-term care insurance, you’re in a better financial position to make the choice of what long-term care services you receive and where you receive them.

In addition qualified long-term care insurance receives favorable income tax treatment. The benefits from qualified long-term care insurance, for the most part, are not taxable income to the recipient, up to a daily limit ($330 for 2014).

Read more

December 9, 2013

Where Would the Money Come From to Survive a Critical Illness Financially?

Everyone knows that it’s not cheap to be sick. And for those facing a critical illness, mounting medical bills and being out of work can spell a financial crisis as well as a health crisis. It’s always best to understand beforehand where money might come from to help you and your family deal with something […]

Read more