Attaining membership in MDRT is a distinguishing career milestone. It requires adherence to a strict Code of Ethics, focus on providing top-notch client service and involvement in at least one other industry association.

MDRT is The Premier Association of Financial Professionals. Founded in 1927, MDRT is an international, independent association of more than 35,000 of the world’s best life insurance and financial services professionals. With membership from more than 74 nations and territories, MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of sales excellence in the life insurance and financial services business.

“Matthew has been with MEG Financial for 2 1/2 years and after his 2nd full year he has qualified for the prestigious Million Dollar Round Table. He is an outstanding asset to the MEG Financial team. He has come in with a sincere desire to help people and to succeed in his business and professional career. I fully expect that Matthew will continue his rapid rise in the insurance and financial services arena and will qualify for the MDRT annually,” states Michael E. Gray, Jr. President and CEO of MEG Financial.

Matthew has over 10 years of sales experience and has focused in the financial services industry for the last 3 years. He currently specializes in life and disability insurance working with business owners and executives. His areas of expertise include keyman insurance, individual disability insurance and estate planning. He graduated in 2008 with a Bachelors degree in Financial Accounting from the University of West Florida and also received his Associates Degree in Business Management from Pensacola State College.

MEG Financial is a Florida based corporation that is licensed in all 50 states and the District of Columbia. MEG has been in the life and disability business for almost two decades and qualifies annually for the MDRT. MEG is currently a member of National Association of Insurance and Financial Advisors (NAIFA) as well as a member of the Better Business Bureau.

You can reach Matthew Griggs personally at (877) 583-3955 or email at matthewg(at)megfinancial(dot)com.

Achieving membership in MDRT is a distinguishing career milestone, attained only by those who have demonstrated exceptional professional knowledge, expertise and client service. The Round Table’s membership represents the top life insurance and financial service professionals worldwide.

MDRT, The Premier Association of Financial Professionals, is an international, independent association of more than 33,000, or less than 1 percent, of the world’s best life insurance and financial services professionals. With membership from 74 nations and territories, MDRT members demonstrate exceptional product knowledge, strict ethical conduct and outstanding client service. Regarded as business and community leaders, membership in MDRT is recognized internationally as the standard of sales excellence in the life insurance and financial services business.

Michael has 17 years of life and disability insurance experience and is a licensed resident life and health agent in Florida and licensed non-resident agent in 49 other states and the District of Colombia. Since graduating from the University of West Florida with a Bachelor’s Degree in Economics in 1993, he has devoted his entire career to the insurance and financial services profession with specific emphasis on life and disability insurance. Michael has assisted thousands of individuals and businesses on a nationwide basis.

MEG Financial, Inc. is a Florida based corporation that provides insurance and financial services consulting to individuals and businesses in 50 states and the District of Colombia. Primary areas of expertise include term life insurance, universal life insurance, in-force policy review, insuring tough health risk, business life insurance including key man insurance, business succession planning, disability income insurance and estate planning.

In addition to MDRT, Michael is a member of the National Association of Insurance and Financial Advisors (FL) and the Better Business Bureau of Northwest Florida, Inc.

Michael has a beautiful wife Susan and they have 5 children: Elizabeth, Katelyn, Ryan, Emmilee, and Hannah.

You can reach Michael E. Gray, Jr. personally at (877) 583-3955 or email michaelg(at)megfinancial(dot)com

Sioux Falls, SD – Exceptional performance and professionalism have helped Michael E. Gray, Jr. of MEG Financial attain exclusive club membership status with Midland National Life Insurance Company.

Midland National club membership is a long-standing tradition reserved for the top representatives of Midland National Life Insurance Company. Membership means that the agent has met high standards of production, principle, persistency and performance. But most of all, it indicates that the agent is a professional dedicated to the client.

“Qualifying for club membership is a career highlight and distinguishes Michael as a stand out among fellow agents,” says Midland National President and COO Steve Palmitier, CLU.

Midland National Life Insurance Company has been in business since 1906. As a member of the Sammons Financial Group¹, it shares resources and services with other Sammons Financial Group members to achieve optimal efficiency and growth. The Sammons Financial Group is not publicly traded. Its parent company – Sammons Enterprises Inc. of Dallas, Texas – is one of the nation’s largest privately held companies². To learn more about Midland National, visit www.mnlife.com.

For the past 16 years, MEG Financial of Pensacola, Florida, a nationally recognized life and disability insurance and estate planning brokerage firm, has worked with business owners, professionals and high net worth individuals to secure life and disability insurance to provide financial security for their companies and or families. MEG’s specialty is finding the right policy at the right price and delivering the best results every time.

Michael is also a member of the Prestigious Million Dollar Round Table, MDRT, the Premier Association of Financial Professionals.

For more information or to receive a term life insurance free quote, contact Michael E. Gray, Jr. at (877) 583-3955 or by e-mail at michaelg@megfinancial.com.

¹The Sammons Financial Group is comprised of Midland National Life Insurance Company, North American Company for Life and Health Insurance, Sammons Securities Company, and the Sammons Annuity Group.  The Sammons Annuity Group is a division of Midland National.

²Ranked No. 162 on Forbes 2009 List of America’s Largest Private Companies. The 2009 list includes 248 closely held corporations that had sales of more than $2 billion.

Key man insurance or key person insurance is coverage that will protect a company or business in the case of an untimely death or disability of a top executive or business owner. The insurance allows a business to continue operations without a major disruption in the event of a key employee’s death, providing peace of mind to owners and shareholders in the company before and if such an incident occurred.  If death or disability strikes your company, key person insurance may be the difference between the company’s demise and its ultimate success.

Key man insurance is not just life insurance. Life insurance is one of the necessary elements of a good insurance plan, however in many cases keyman disability insurance is of equally significant. The risk of disability at old age is actually higher than death at certain ages; to achieve adequate protection, most companies should secure both key man life and disability insurance for their key employees and/or executives.

How Does Keyman Life Insurance Work?

Many businesses and owners use life and disability insurance to protect themselves from the risk associated with death or disability. If you’re insured with key man life or disability, a company can cover the amount of funds needed to adequately replace a key employee in the event of their death or incident. The cost associated with securing a policy for key man insurance is very small relative to the costs and damage without it & the potential benefits a company receives if a key employee dies or is disabled.

With both key man life and disability insurance, the business secures the policy on the life of the key person. It will own the policy, pay the premiums and be the beneficiary in the event the key employee dies or is disabled.

Key person insurance policies are designed to protect the business not the key employee. If a key employee dies or is disabled, the policy proceeds can be used by the company for any purpose. Typically a businesses will use the funds received from a key man policy to cover expenses associated with finding capable replacements or to cover short term revenue deficits.

MEG Financial, a nationwide specialty life, disability and estate planning insurance agency comments on the death of George Steinbrenner and how he escaped paying federal estate taxes.

Pensacola, FL (Vocus) July 29, 2010 -

MEG Financial, a leading online provider of life insurance and estate planning emphasizes the need for high net worth individuals to plan for future estate taxes.

The recent death of New York Yankee owner and icon George Steinbrenner should be a wake up call to anyone with a significant estate value with future federal estate tax exposure. Fortunately for Mr. Steinbrenner, his death on July 13th came six months after the federal estate tax expired. Forbes magazine had previously estimated Mr. Steinbrenner’s net worth at over $1 billion. With the expiration of the federal estate tax in 2010, the timing of his death will likely save his heirs in excess of $500 million in federal estate taxes. Yes, he was ultimately successful in business and you could say from a financial point of view that he picked the right time to die.

How Will the Federal Estate Tax Affect You?

Well, if you die in 2010, you will be like Mr. Steinbrenner and avoid the punitive federal estate tax. However, the federal estate tax is coming back in January 2011 and will affect all estates over $1 million. In fact, the maximum federal estate tax rates could be 55% of your entire net worth that exceeds $1 million. Don’t get caught off guard with no plan!

MEG Financial President and CEO Michael Gray, Jr states “these days, it is not that hard to amass an estate that exceeds the $1 million exemption and at the scheduled rates for 2011 many families will be dramatically affected.”

No One Knows Where the Federal Estate Tax Rates and Exemptions Are Heading

The inactivity of Congress with respect to the federal estate tax is cause for alarm. It was widely felt among tax planners and estate planning attorneys that the federal estate tax exemption for 2011 would be set at a much higher level, say $3.5 million or even up to $5 million. But the state of the economy and the shortfall of federal revenues may mean that the exemption remains unrealistically low. According to Gray, “the key is to evaluate your net worth and estate planning concerns carefully and to plan accordingly. With the low federal estate tax exemption, you really do not have to be in the same financial league of the Steinbrenner’s of the world to be impacted by the pending federal estate tax. Be smart and plan now.”

Life Insurance: The Perfect Tool for Effective Estate Planning

It has long been know by most wealthy families that one of the best ways to pay federal estate taxes is with life insurance. In fact, it is the perfect vehicle because the timing of the payout of the life insurance proceeds corresponds directly with the federal estate tax bill.

The concept of using life insurance to pay estate taxes is relatively simple. You can set up an irrevocable life insurance trust and have the trust purchase a life insurance policy to be owned by the trust with the trust as the beneficiary. When proceeds become payable, the life insurance funds go into the trust which can then write a check to the federal government to pay the estate tax due. This allows for your estate to be passed to your heirs in whole and the life insurance proceeds cover the estate tax.

This explanation is obviously a simplification and you should always consult your tax and legal professionals. But the concept is clean and works great for estates with large real estate holdings or other non liquid assets.

For additional information on using life insurance in your estate planning or to receive a custom life insurance quote, contact MEG Financial now or visit our website http://www.megfinancial.com.

MEG Financial:
For the past 16 years, MEG Financial of Pensacola, Florida, a nationally known life insurance and estate planning brokerage firm, has worked with high net worth individuals to secure life insurance to pay estate taxes. MEG’s specialty is finding the right policy at the right price and delivering the best results every time.

MEG Financial, a nationwide specialty life and disability insurance agency announces an overlooked opportunity for unwanted or needed keyman life insurance with the emerging “secondary market” for life insurance.

Pensacola, FL (Vocus) July 13, 2010

MEG Financial, a leading provider of key man insurance online explains the potential hidden value of unneeded key man life insurance policies.

Key man insurance, commonly referred to as key person insurance, is essentially life and/or disability insurance purchased by a business on the life of a key employee or business owner to offset financial losses that would arise from his or her death or extended illness. With many companies, this protection is essential to its continuation in the event that a key person is lost.

What happens when a key man insurance policy is no longer necessary?

While key man insurance is extremely valuable, circumstances constantly change and there are situations when key man insurance is no longer important. Common reasons why key man insurance policies are no longer required include changing company objectives, the key person retires or leaves the company for greener pastures, the business is sold, a loan is paid off or simply the original intent of the coverage has been fulfilled.

MEG Financial founder and CEO Michael E. Gray, Jr. states, “in the past, cases where key person coverage was acquired but was no longer needed, the only options for the business were to let the key man policy lapse or surrender the policy for its remaining cash value. If the company chose to lapse the policy, it became null and void with no value. If the policy was surrendered for its cash value, only a fraction of the policy’s face value is returned and in many cases the value received is far less than actual premiums paid into the policy.”

Life Settlements: The Secondary Market for Life Insurance

Over the last few years, a new opportunity has evolved, called a life settlement and has created a multi-billion dollar industry known as the life insurance “secondary market”. Similar to the secondary market for mortgages, the life settlement market provides an efficient system for evaluating unwanted life insurance policies so that they can be valued for the purpose of selling them to an investor at a fair market value. These investors are typically very large and recognized institutional funders and prominent investment banks. Consequently, billions of dollars are now being poured into the life settlement industry to purchase unwanted life insurance policies.

According to Gray, “for companies owning key man insurance policies that are no longer needed, a life settlement may present a unique opportunity to receive maximum policy value for a potentially unrecognized asset. Instead of lapsing for no value or surrendering the policy for its available cash, it can be appraised to determine its potential fair market value and may then be sold in the secondary market subject to certain conditions.” Bottom line, find out more about the potential for a life settlement before any key man insurance policy is lapsed or surrendered. “You may be very surprised to learn that your key man policy is more valuable than you think!”

What’s the Catch?

Obviously, not all life insurance policies have value in the secondary market. Life settlement providers, those that purchase unwanted life policies for the purposes of reselling them to institutional investors, will competitively bid on life insurance policies based on the age of the insured, their health status and the specifics of the actual life policy being sold. Since the policies are being purchased as investments and will be kept active until the death of the insured, age requirements are at minimum individuals over 65 with some degree of health history. Additionally, if the policy is term, it must be convertible to whole life or universal life.

About MEG Financial

MEG Financial, Inc. is a Florida based corporation that provides life insurance and financial services consulting to individuals and businesses in all 50 states and the District of Columbia and representing over 80 of the nation’s highest rated and most respected life and disability insurance companies. MEG’s primary areas of expertise include life insurance, life insurance settlements, insuring tough health issues, business insurance including business succession and key man life and disability insurance, as well as estate planning.