American Benefit Corporation
July 2011 Press Release - Addressing the National Debt Through Life Insurance - American Benefit Corporation specializes in developing strategic solutions to executive benefit needs.
At American Benefit Corporation, we design, fund and manage executive non-qualified benefit plans for highly compensated corporate executives who wish to reduce current income taxes and form personal capital on a tax efficient basis. Established more than 30 years ago, we serve the unique needs of executives in numerous corporations with their personal capital formation objectives.
American Benefit Corporation News Room
American Benefit Corporation and its representatives are presently licensed to operate in particular states of jurisdiction and may operate only where licensed and, with regard to any particular product, where that product has been approved. American Benefit Corporation and/or James W. Herlihy are currently licensed to market insurance and investment products in Arizona, Connecticut, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Vermont.
The insurance and/or investment product information on this site is not intended for distribution or use in any states or jurisdictions where our company, its products, or representatives are not so licensed or approved.
Securities offered through M Holdings Securities, Inc. A Registered Broker/Dealer, member FINRA/SIPC. American Benefit Corporation is independently owned and operated.
American Benefit Corporation is a member of M Financial Group. Please go to www.mfin.com/DisclosureStatement for further details regarding this relationship.
Featured Case Study
Reduce Turnover With Corporate Match
A large east coast grocery store chain employed pharmacists in each of their stores. They were experiencing 40% turnover each year within this group and wanted a benefit plan that would increase their retention.
Press Releases
December 2011October 2011
August 2011
July 2011
June 2011
Apr 2011
Feb 2011
Jan 2011
Dec 2010
Nov 2010
October 2010
September 2010
August 2010
July 2010
Addressing the National Debt Through Life Insurance - An open letter to government leaders from James Herlihy founder of the American Benefit Corporation.
This life insurance solution has worked for over a hundred years for individuals and corporations and can also work for the U.S. Treasury. Americans will unite and advance this effort if they are only asked.
American Benefit Corporation's James Herlihy has released an open letter to government leaders on how to eliminate the National Debt for our children and grandchildren.
In finance the simplest ideas are often the most effective. The current federal debt is approximately $14 trillion. This can be eliminated in 30-35 years without the need to increase taxes or reduce spending. However, there is considerable room to reduce government spending.
Individuals and corporations buy life insurance because they wish to transfer the risk of financial loss when the insured dies to a third party - an insurance company. This concept that has successfully worked for individuals and corporations for more than 100 years can effectively be used to eliminate (not reduce) the federal debt.
The United States Treasury should acquire approximately $3 million of life insurance from a consortium of United States life insurance companies on approximately 5 million Americans who are willing to submit to an insurance physical. This will develop a total insured amount of approximately $14 trillion, which is equal to the current national debt. The United States Treasury will own and be beneficiary of each policy. If the current insurable interest rules do not accommodate this concept they should be changed in the national interest.
Ideally, the insured lives should be age 50 or older since they will reach life expectancy in 30-35 years and the national debt can be eliminated for our children and grandchildren.
The time to do this is now when the cost of capital is lower than it has been in decades. The required life insurance premium could be financed by selling debt to foreign governments. If the correct assumptions are realized the financing cost of capital may also be recovered when the insured dies. Further, participating insurance companies would have additional capital to invest in the U.S. economy.
From 1941-1945, the greatest generation put 16 million men and women in uniform, fought a war on two continents, won them both, and then rebuilt Europe. It would seem that the American boomer generation should be able to organize some insurance companies and take 5 million people to the doctor.
About Us - At American Benefit Corporation, we design, fund and manage executive non-qualified benefit plans for highly compensated corporate executives who wish to reduce current income taxes and form personal capital on a tax efficient basis. Established more than 30 years ago, we serve the unique needs of executives in numerous corporations with their personal capital formation objectives. This material is intended for informational purposes only and is not intended to replace the advice of a qualified tax advisor. Investments in securities involve risks, including the possible loss of principal. When redeemed, shares may be worth more or less than their original value. Securities offered through M Holdings Securities, Inc., a Registered Broker/Dealer, Member FINRA/SIPC. American Benefit Corporation is independently owned and operated.