Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - August 23, 2020

August 23, 2020
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News. Insights. Analysis. Inspiration.

 

Today's Key Question:

Have you heard of Leveraged Split Dollar? It's a great life insurance funding tool, especially in a low interest rate environment.

See the article below from JD Supra.

 

"How To Get Started In E-Commerce: A Procrastinator’s Guide"

From Forbes:

* Pofeldt: How can an entrepreneur in an existing brick-and-mortar business tell if there is any potential to pivot or expand into doing business online? 

Huang:  If you want to test going into e-commerce, I would say first check to see if there is demand for your product online on relevant sites. If you are in fashion or apparel, for instance, certain websites, such as Etsy, are very good for that, especially if you have unique and one-of-a-kind products.

 

"7 Affordable Ways to Conduct Market Research Online"

From American Express:

* In the wake of disruption and uncertainty, it has become more critical than ever for business owners to truly ‘know their customers’ — to understand how their needs, expectations, and behaviors are changing so they can best pivot their products and services to meet them. One way business owners can familiarize themselves with these changes is by mining customer insights through data-driven online research.

There are many cost-effective ways that you can conduct market research. From internet polling and survey tools to cloud apps and online services that provide essential insights, numerous strategies and solutions make it possible to surface actionable data in minutes. Below you’ll find seven ways to gain access to the information you’re seeking with a minimum of time, effort and expense.

 

"Doctors, not bureaucrats, must make triage decisions"

From Washington Examiner:

* Doctors practice personal medicine for individual patients, not “population medicine.” Crisis standards of care are intended to “prioritize survival of the group over survival of an individual patient during disasters,” such as the current pandemic.

As an emergency physician in Denver said, "Normally, we operate with the individual patient's best interest at heart.” But during this pandemic, "You're looking for the most good for the greatest number — it really is a shift."

It is a shift — a shift we should not accept. A Colorado physician staring at 10 COVID-19 patients in respiratory failure and only eight ventilators is responsible for each of those 10 persons, not the other 600,148 residents of Denver.

Morally and legally, doctors practice personal medicine on individual patients, not population care.

  

"Mad Dogs and Panameños"

From JD Supra:

* Using the Leveraged Split Dollar Rollout (LSD Rollout) to Terminate Loan Regime Split Dollar Plans. Leveraged Split Dollar - low interest rate loans, tax advantage build up of life insurance policy, and a great technique to heavily discount the amount of money paid back to the lender.

 

Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here