FIND THE RIGHT ANSWERFrequently Asked Questions

General Questions

What Industries are We Specialized In?

Integrity works with a variety of professions and industries including:

  • Event Planners
  • Realtors
  • Attorneys and Law Firms
  • Photographers
  • Behavioral Health Providers
  • Personal Care and Home Health Providers
  • Private Medical Practices
  • Construction
  • Contractors
  • Authors
  • Funeral Service Providers
  • High Net Worth Individuals

We take pride in our ability to learn the fundamentals of virtually any industry quickly.

How are you different from other firms?

We differ in many ways, but what we are most proud of is our research. We don’t just look at what you do, but at the industry as a whole. We give you the TRUTH, which is is not always easy to hear, but is a necessary step to begin your journey. We take a no-nonsense approach with our advisory services to provide you with consistent and sound information. We love what we do, and helping businesses and business owners is our greatest joy.

What is expected of me?

Honesty, cooperation, focus, determination and action. Perform the assignments and work as applicable. With Integrity you have a firm committed to guiding you to make substantial and consistent change to obtain your financial and business objectives. You are a decision maker! This is important to the journey.

What is required to get started?

The services of IFBCS are provided under a retained relationship. The retainer cost is $3,500 per 10 support hours. The advisory relationship provides for the analysis of the executive and company business and financial status to properly advise regarding structure, protection, exposure along with strategies for planning as communicated. Payment is required upon entry contracting in advance of service. Agreements are renewable. Travel and lodging (as needed) are excluded from retained hours. Time is recorded in 30 minute increments.

What are your hours of operation?

Our workday is 9:00 – 4:00 CST, Monday – Friday. Appointments are accepted and scheduled between 10 am – 3 pm, Monday – Friday.

What is your refund policy?

The payment for retained servicing is non-refundable. Once you have made the decision to hire IFBCS, we have set aside time to work with you and we may even have turn away other opportunities to provide you with the best possible experience.


Are there any age requirements for buying an annuity?

Most plans require that you be younger than 80 years old to purchase an annuity.

Is a medical exam required when I purchase an annuity?

No. Medical exams are not usually required to purchase an annuity.

How much income can I receive every month with an annuity?

The amount you will receive every month depends on a number of factors: your age, gender, state of residence, how much money you invest in the annuity and what different insurance companies are quoting for their particular annuity products. There are also factors that will determine how much income you receive include based on the type of annuity chosen or specified and the features you apply to that annuity.

What percentage of my assets should I use to buy an annuity?

This will be determined by your specific financial situation. Our general recommendation that people reserve at least 30-40% of their retirement assets for unforeseen circumstances. Be sure to consult an industry professional when you are evaluating an annuity purchase.

How are annuities different from life insurance?

Life insurance pays your beneficiaries a substantial cash benefit should you die during the term of the policy – essentially protecting them against the risk that you might die prematurely, placing them in financial jeopardy. Benefits from life insurance policies are designed to replace “lost” income; they usually provide significantly more than you’ve paid into the policy. Annuities are completely different – they are designed to provide you with guaranteed income during retirement.

If I have an emergency can I terminate the plan?

In most cases, you cannot terminate your annuity once you’ve signed up. Certain outstanding circumstances may, however, enable you to cancel and recover some of your investment (i.e. Terminal Illness).

Asset Protection

How long does Asset Protection take from start to finish?

The length of time to set up these plans largely depends on your personal circumstances and the jurisdiction you choose to execute your plan in. Domestic Asset Protection is the process of using entities and protection strategies within the United States for your Asset Protection Plan. International Asset Protection is the process of using entities and protection strategies outside of the United States for your Asset Protection Plan. Once we know more about your specific Asset Protection goals, we can give you an idea of how long your customized plan will take to execute, however International Asset Protection may vary in completion time.

Is Asset Protection only for the wealthy?

Absolutely not! It’s true that America’s wealthiest families were traditionally deep pocket defendants who were most concerned about shielding their wealth. But the rich are no longer targets for lawsuits. Anyone with assets need protection.

Does asset protection discourage lawsuits?

Yes. Plaintiffs will come after you if they think there are assets they can seize. If they cannot seize your assets, or if you make it sufficiently expensive to seize your assets, they will, often, not bother to sue you in the first place.

Is it ever too late to plan?

No, but there are exceptions. Planning must be mindful of the fraudulent transfer laws, also considerations to the practical implications of planning. Often, even if a lawsuit has been filed against you, it is not too late to plan. We will make that determination on a case by case basis.

Is asset protection expensive?

If we compare it to losing all of your assets to a creditor, the answer is quite simple…NO. The costs involved in Asset Protection planning does vary, but we feel its always best to plan ahead of time. Costs and fees will also vary depending on who you retain, how aggressively the plaintiff will pursue your assets, and to what extent you want to go to protect your assets.

If I have insurance, do I need asset protection?

Yes!! The majority of our clients have insurance, yet they still need Asset Protection planning. While insurance will cover most claims, it will not cover all claims, especially if there are insufficient policy limits. We recommend the addition of umbrella insurance, however it may be very difficult to obtain coverage in excess of $4 million. There is always the possibility claims may exceed that amount.

Retirement Planning

When does the average person retire?

Generally most people retire between the ages of 62-68. However due to recent economic challenges, many retirees have returned to the workforce.

How much money do I need to retire?

The amount of money needed for retirement will be different for everybody. While some people will want to travel and spoil their grandchildren, others will not. The best rule of thumb is to add up expected retirement income sources (i.e. social security, pensions, distributions from individual retirement accounts, investments, etc.) then subtract all expected retirement expenses (i.e. housing, utilities, taxes, insurance, food, clothes, etc.). This will allow you an idea of what will be needed after retirement. The final answer, of course, will be based on anticipated life expectancy.

What happens to a retirement fund if I die before withdrawing the money?

If you are married, the money in your retirement accounts becomes the property of your spouse unless you’ve named a non-spousal beneficiary. If you are single and have named a beneficiary, the beneficiary will inherit the accounts. If you are single and have not named a beneficiary, the accounts will become part of your estate.

What if I become disabled before retirement age and have to take disability?

If you are younger than age 59 ½ and need to tap into your retirement accounts, you can do so. While the 10% penalty may be waived, you will still have to claim the distribution as income.

How will my tax bracket be affected after I retire?

Most people assume that they will be in a lower tax bracket after retirement because they will have less income. While it’s not usually the case that a person or married couple would be in a higher tax bracket after retirement, it is possible that the tax bracket would be the same as before retirement.

Is a spouse automatically the beneficiary of a retirement account owned by the other spouse?

Federal law has established that a spouse must specifically give up the right to inherit the retirement accounts of the other spouse.

Is it possible to start retirement planning too early?

ABSOLUTELY NOT! It is never too early to start planning – and saving – for retirement.

Whole Life Insurance

Why is permanent life insurance important?

Permanent life insurance is important because it allows you to set money aside for your golden years, and can provide for a generational legacy. Many people have chosen and will choose lower cost term life insurance, promising themselves they will save and invest the money they would otherwise have spent buying a whole life or universal life insurance policy. In reality, most do not actively invest money or actively manage those investments. Even if money is set aside and invested, it does not guarantee a profit due to market volatility.

How much does permanent life insurance cost?

Your permanent life insurance cost will generally depend upon the following considerations: The amount of the death benefit you choose, your age and the state of your health. Permanent life insurance premiums are less expensive to buy when you are younger and become increasingly more expensive as you age. The life insurance company determines how much your permanent life insurance premium will cost. Premiums can be “locked in” and will remain the same for the life of the policy, such as in a whole life policy. In a Universal Life Policy, premiums may be adjusted.

Is permanent life insurance taxable?

Permanent life insurance is not taxable until you withdraw funds from the cash portion of the policy. If you take out a “loan” against the policy, the amount you borrow is not taxable. Death benefits paid out to your named beneficiary are exempt from both income tax and estate taxes

Is permanent life insurance an asset?

ABSOLUTELY!! People who are evaluating life insurance policies often ask, “Is permanent life insurance a good investment?” The answer depends on an individual’s needs and goals. Some people prefer to invest in term life insurance and invest the difference they would have paid into a permanent life insurance policy in other ways.

Others like the fact that permanent life insurance is designed to be an asset that grows in value. You can use whole life or universal life insurance as a long term investment vehicle that provides continuous, stable growth along with tax advantages and a death benefit. A permanent life insurance policy provides liquidity, as you can borrow against it or withdraw funds.

Who needs life insurance?

Your need for life insurance varies with your age and responsibilities. It is a very important part of financial planning. There are several reasons to purchase life insurance. You may need to replace income that would be lost with the death of a wage earner. You may want to make sure your dependents do not incur significant debt when you die. Life insurance may allow them to keep assets versus selling them to pay outstanding obligations.

Who can take out a policy on my life?

Only someone who has an “insurable interest” can purchase an insurance policy on your life. That means a stranger cannot buy a policy to insure your life. People with an insurable interest generally include members of your immediate family. In some circumstances your employer or business partner might also have an insurable interest. Insurable interest may also be proper for institutions or people who become your major creditors.
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