Steve Marcangelo
Life Insurance & Annuity Expert
I help clients who've been sold the wrong policy by commission-focused agents—and those buying coverage for the first time who want it done right from the start.
What's Inside
Everything You Need to Know
The Reality
Problems We See Every Day
These are the issues I encounter constantly when reviewing policies written by inexperienced or commission-driven agents.
Minimum-Funded IUL Policies
Agents structure IUL policies with minimum premiums to maximize their commission. This starves the policy of cash value and often causes it to lapse later.
Wrong Product for the Goal
Selling whole life when term would suffice. Pushing annuities on people who need liquidity. The product should match your need—not the agent's commission.
Unrealistic Illustrations
Showing projections at maximum rates that never materialize. When real returns come in lower, clients feel deceived. Honest agents show conservative numbers.
Policies Destined to Lapse
Structuring that looks fine initially but is designed to fail. The policy works for 10-15 years then suddenly requires huge premium increases or lapses entirely.
No Ongoing Relationship
The agent makes the sale and disappears. No check-ins, no policy reviews, no adjustments as your life changes. A good policy requires ongoing attention.
Single-Carrier Tunnel Vision
Captive agents can only sell one company's products. Even if a competitor offers something better for your situation, they can't recommend it.
The Good News
Many of these problems can be fixed. Through policy reviews, restructuring, and sometimes strategic replacements, we can often improve your situation significantly—even with existing policies.
Life Insurance
Most Common Products
Life insurance isn't one-size-fits-all. Each product type serves different needs. Here's what you need to know.
Term Life Insurance
Temporary protection at the lowest cost
Term life provides pure death benefit protection for a specific period—typically 10, 20, or 30 years. It's the most affordable type of life insurance because it has no cash value component.
Best For
- Income replacement
- Mortgage protection
- Children until independence
- Maximum coverage on budget
Whole Life Insurance
Guaranteed protection with guaranteed growth
Whole life provides lifetime coverage with guaranteed premiums, guaranteed death benefit, and guaranteed cash value growth. It's the most predictable form of permanent life insurance.
Best For
- Estate planning
- Wealth transfer
- Conservative savers
- Infinite banking
Indexed Universal Life (IUL)
Market-linked growth with downside protection
IUL offers flexible premiums with cash value growth linked to market index performance (like the S&P 500). You participate in gains up to a cap while being protected from losses with a floor (typically 0%).
Best For
- Tax-free retirement income
- Cash accumulation
- Market participation without risk
Final Expense Insurance
Simplified coverage for end-of-life costs
Final expense is simplified whole life with smaller face amounts ($5,000-$50,000) designed to cover funeral costs, medical bills, and small debts. Easier qualification makes it accessible for those with health issues.
Best For
- Funeral/burial costs
- Seniors with health issues
- Leaving no burden to family
| Feature | Term | Whole Life | IUL |
|---|---|---|---|
| Coverage Period | 10-30 years | Lifetime | Lifetime |
| Premiums | Lowest | Highest | Flexible |
| Cash Value | None | Guaranteed | Index-Linked |
| Growth Potential | N/A | Conservative | Moderate |
| Best Use | Temporary need | Legacy/Banking | Accumulation |
Advanced Planning
Life Insurance Strategies
Life insurance isn't just about death benefits. Properly structured policies can serve multiple financial goals.
Max-Funded IUL for Tax-Free Retirement
Instead of minimum-funding an IUL (which benefits the agent), we structure policies to maximize premium contributions. This builds substantial cash value for tax-free retirement income.
How It Works
- Contribute maximum premiums under IRS guidelines
- Cash value grows tax-deferred with downside protection
- Access funds via tax-free policy loans in retirement
Infinite Banking Concept
Use dividend-paying whole life insurance as your own private banking system. Borrow against your policy's cash value and pay yourself back—recapturing interest.
Key Benefits
- Uninterrupted compound growth even while borrowing
- Flexible repayment terms (you set the schedule)
- No credit checks or loan applications
Estate Planning & Wealth Transfer
Life insurance proceeds pass to beneficiaries income tax-free and can be structured to avoid estate taxes. One of the most efficient wealth transfer tools available.
Common Strategies
- Irrevocable Life Insurance Trust (ILIT)
- Second-to-die policies for married couples
- Equalizing inheritance among heirs
Income Replacement Planning
The fundamental purpose of life insurance: ensuring your family maintains their standard of living. We calculate the right amount based on your actual situation.
Factors We Consider
- Current income and years until retirement
- Mortgage balance and other debts
- Children's education costs
Key Person Insurance
Protect your business against the loss of essential employees or owners. Provides funds to cover lost revenue, recruit replacements, and maintain operations.
Business Applications
- Cover revenue loss during transition
- Fund search and training for replacement
- Maintain lender and investor confidence
Buy-Sell Agreement Funding
For business partners, life insurance funds buy-sell agreements ensuring smooth ownership transition when a partner passes away.
Structure Options
- Cross-purchase: Partners own policies on each other
- Entity purchase: Business owns policies on partners
- Hybrid approaches for flexibility
The Strategy Must Fit the Goal
None of these strategies are universally right or wrong—they depend entirely on your specific situation, goals, and financial picture. The first step is always understanding what you're trying to accomplish.
Annuities
Most Common Products
Annuities provide what no other financial product can guarantee: income you cannot outlive.
Fixed Annuity
Guaranteed interest rate for a set period
Fixed annuities work like CDs but typically offer higher rates and tax-deferred growth. You receive a guaranteed interest rate for a specific term, with your principal fully protected.
Best For
- Conservative savers
- CD alternatives
- Pre-retirees seeking stability
Multi-Year Guaranteed (MYGA)
Locked-in rate for 3-10 years
MYGAs are the closest annuity equivalent to a bank CD. You lock in a guaranteed rate for a specific term (typically 3-10 years) with full principal protection.
Best For
- Replacing maturing CDs
- Defined time horizons
- Predictable growth needs
Fixed Indexed Annuity (FIA)
Market-linked growth with zero downside
FIAs offer the best of both worlds: interest linked to market index performance, but principal protected from losses. When markets rise, you gain. When markets fall, you simply earn zero.
Best For
- Pre-retirees seeking growth
- Downside protection
- IRA/401k rollovers
Immediate Annuity (SPIA)
Turn a lump sum into lifetime income now
SPIAs convert a single premium into immediate, guaranteed income payments that begin within a year. They provide the highest payout rate of any annuity type.
Best For
- Creating pension-like income
- Covering essential expenses
- Longevity protection
Deferred Income Annuity (DIA)
Guaranteed income starting at a future date
DIAs let you purchase future income at today's prices. Deposit money now, and guaranteed income begins at a chosen date in the future. The longer you wait, the higher the payout.
Best For
- Later retirement years
- Reducing sequence risk
- RMD planning
Variable Annuity
Direct market investment with optional guarantees
Variable annuities invest directly in sub-accounts similar to mutual funds. Your account value fluctuates with market performance—you can gain or lose money.
Best For
- Market exposure with tax deferral
- Investors comfortable with risk
- Long time horizons
Retirement Income
Annuity Strategies for Retirement
Smart annuity planning isn't about products—it's about solving specific retirement challenges.
Income Floor Strategy
Cover your essential expenses with guaranteed lifetime income. This creates a "floor" of protected income, so market volatility can't threaten your basic needs.
How We Build Your Floor
- Calculate essential monthly expenses
- Subtract Social Security and pension income
- Fill the gap with annuity income
Pension Maximization
If you have a pension with survivor options, life insurance can let you take the higher payment while still protecting your spouse if you pass first.
How It Works
- Take the "single life" (higher) pension option
- Use extra income to buy life insurance
- Insurance replaces pension if you die first
Annuity Laddering
Spread purchases over several years with different start dates. This provides flexibility, hedges against rate changes, and creates multiple income streams.
Laddering Benefits
- Capture different interest rate environments
- Maintain liquidity as contracts mature
- Reduce risk of committing all funds at low rate
Sequence of Returns Protection
Early losses while withdrawing can devastate a portfolio. Annuities provide guaranteed income during downturns, letting your portfolio recover.
Protection Strategies
- FIA with income rider as "buffer"
- DIA for income in later years
- Reduce withdrawals during volatility
Tax-Efficient Distribution
Where you take retirement income matters for taxes. Annuities can be part of a coordinated strategy that minimizes lifetime tax burden.
Considerations
- Non-qualified annuity exclusion ratio
- Qualified annuities and RMD rules
- QLACs to defer RMDs to age 85
Legacy Planning
Annuities aren't just for income—they can be effective wealth transfer vehicles with death benefits that pass efficiently to beneficiaries.
Legacy Features
- Enhanced death benefit riders
- Period certain options
- Return of premium guarantees
Working Together
What to Expect When We Talk
A straightforward process with no pressure, no hard sells, and no surprises.
Initial Conversation (15-30 minutes)
We'll talk about your situation, goals, and any existing coverage. This is a chance for me to understand what you're trying to accomplish. No commitment required.
Analysis & Research
If you have existing policies, I'll review them for issues. I'll research options across my carrier partners to find solutions that fit your needs—not whatever pays me most.
Recommendations Meeting
I'll present clear recommendations with full transparency on costs, benefits, and trade-offs. You'll understand everything. I'll answer every question until you're comfortable.
Your Decision
You decide what's right—on your timeline. If you move forward, I handle everything. If not, you leave with valuable information and no hard feelings.
Ongoing Relationship
I don't disappear after the sale. You get annual reviews, direct access to me, and ongoing adjustments as your life changes. This is a relationship, not a transaction.
No Obligation, No Pressure
Many people I talk to don't end up buying anything—and that's completely fine. Sometimes the best advice is "keep what you have." My job is to give you clarity, not close a sale.
Partnered with Leading Insurance Carriers
About Steve
Built on Integrity, Not Commissions
With over 20 years of executive leadership experience and deep expertise in insurance, I bring a different perspective to this industry.
1,000+ Families Helped
Personally guided over a thousand families through life insurance and annuity decisions with honest, pressure-free advice.
100,000+ Through Eterna
Partner at Eterna Insurance Solutions, a brokerage that has helped over 100,000 families nationwide.
20 Years Executive Leadership
Former VP at ArchTelecom, a $200M organization. I understand business, finance, and protecting what you've built.
Independent Access
Not captive to any single carrier. Licensed in all 50 states, shopping 10+ top-rated companies for the right fit.
Ready to Talk?
Whether you need a second opinion on an existing policy or want to explore options for the first time, I'm here—with honest guidance and zero pressure.