Douglas Andrew Discusses the TAMRA Law

Douglas Andrew

Douglas Andrew

Douglas Andrew has established a successful series of Missed Fortune workshops and books. The Missed Fortune principles are founded upon maximum funded tax-advantaged life insurance, but Douglas Andrew stresses these must be structured correctly. Much of this structure comes from obeying tax laws, Douglas Andrew says—primarily three major tax laws enacted in the 1980s regarding the insurance industry.

Douglas Andrew regularly fields questions about these laws. Today, he addresses questions about TAMRA—the Technical and Miscellaneous Revenue Act of 1988.

Q: Why was the TAMRA Law passed?

Douglas Andrew: In the 1980s, people were putting large sums of money into life insurance policies because they knew life insurance companies were stable. Feeling the competition, banks and institutions lobbied Congress and the result was the TAMRA Law of 1988.

Q: What is the TAMRA Law?

Douglas Andrew: In essence, with the TAMRA Law, an individual cannot put his or her money in an insurance policy all at once and maintain a tax-free environment.

Q: So someone has to slowly put money in?

Douglas Andrew: It must be deposited gradually over several years in order to comply with TAMRA.

Q: Do we have to comply with TAMRA?

Douglas Andrew: Yes, if we want our money to be tax-free when it’s taken out, it’s important to comply with all of the stipulations of TAMRA.

Q: What if someone has a policy that dates prior to TAMRA?

Douglas Andrew: If someone has a policy that was taken out prior to TEFRA, DEFRA, and TAMRA, then they don’t apply. These policies were grandfathered in because they were established prior to these laws.

Q: Why should I choose a maximum insurance tax-advantaged life insurance policy over stocks and bonds?

Douglas Andrew: Insurance companies have been around since the 1800s, weathering all the ups and downs in the market. In the economic turmoil of recent years, not a single life insurance company has gone out of business.

Q: How many banks have gone out of business?

Douglas Andrew: At last estimate, more than three hundred with the recent recession.

Q: What about fees?

Douglas Andrew: The goal is to incur the least amount of fees possible, but as I tell our Missed Fortune clients, I’d rather be paying fees to an insurance company than fork over large sums of my earnings to pay taxes.

Q: How much can a person expect to pay in fees for maximum funded life insurance?

Douglas Andrew: Using the methods outlined in Missed Fortune, someone netting eight percent would pay about one percent in fees over the life of the policy. That’s seven percent with no taxes required.

For  more information on Missed Fortune and Douglas Andrew’s advice on choosing maximum funded tax-advantaged life insurance contracts, visit http://www.missedfortune.com. Douglas Andrew has had two national bestsellers and his Missed Fortune seminars are in demand throughout the country.

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Douglas Battista Reports that Barbados Offers Much More than Beaches

Douglas Battista

Douglas Battista

Douglas Battista points out that whatever Barbados lacks in size, this beautiful Caribbean island makes up in sheer beauty and a climate that is second to none.

History of Barbados

According to Douglas Battista, the first persons to live on the tiny island of Barbados were the Arawak Indians, who left around 1200 AD. Throughout the next 600 years, Barbados was inhabited by the Portuguese and later the English. In the 1600s, the inhabitants began utilizing the country’s rich soil in the agriculture production of sugarcane. According to Douglas Battista, Barbados was a British Crown Possession and, as such, extended England’s practice of slavery to the Caribbean island. In the early 1800s, the slaves revolted and by 1834 the practice was abolished forever. After World War II, Barbados became a prime tourist attraction and is currently a democratic society, notes Douglas Battista.

Discover Barbados

The Resort Areas – While Barbados is home to numerous resorts, the main tourist attractions are located on the South and West coasts. For vacationers seeking sophistication and luxury, Douglas Battista recommends the West Coast. This area is home to numerous fine dining establishments and pristine waters. As well, Douglas Battista notes that one is likely to spot a celebrity or two. According to Douglas Battista, the South is known for its nightlife and offers those seeking lively entertainment almost unlimited options.

The Beaches – White sand, blue waters, and 3,000 hours of sunshine per year make some of the most beautiful beaches in the history of the Caribbean, says Douglas Battista. Some of the most popular beaches are found in the resort areas, including Sandy and Rockley on the South side and Payne’s Bay to the West. According to Douglas Battista there’s no shortage of activities available; swimming, jet skiing, kayaking and sailing are abundant in the serene waters of the South and West. As well, Douglas Battista says that Barbados’ beaches are perfect for just soaking in the golden rays of the unobstructed sunshine.

Bridgetown – The Nation’s capital offer shopping galore, and duty-free at that, says Douglas Battista. A quick stroll through the Trafalgar Square or a walking tour of the city enjoying the complexity its unique architecture are just some of the relaxing activities available in the commercial center of the country, adds Douglas Battista.

East Coast – For stress relief, Douglas Battista recommends staying in the West. But, for those with a little more adventure in their spirit, the untamed waters off East Atlantic Coast are a surfer’s Utopia. Douglas Battista says that this is the premier spot to grab a board and a waterproof camera because memories here deserve to be printed and shared.

According to Douglas Battista, Barbados is an open and friendly country. Battista highly recommends at least a weeklong visit for those looking to enjoy this country’s hospitality and landscape.

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