Image: windsorsecurities.com
Initially an employee of Windsor Securities, Inc., current president and owner Steven Prusky rose through the ranks, eventually purchasing the company in 2005. Steven Prusky’s firm employs a number of strategies suited to financial products such as variable life insurance.
A variable life insurance policy is a type of permanent life insurance, as the beneficiary receives a guaranteed death benefit portion when the policyholder dies. What is unusual about this type of insurance is two fold: all or part of the premiums paid may be allocated by the owner to the insurance company’s “separate account”, which is not liable for any debts of the insurance company, and; the separate account comprises a range investment sub-accounts (mutual funds), usually several types of equity, bond, and money market types, which affect the insurance contract’s face value.
If managed well, the cash value could potentially increase, sometimes enough to reduce or (in extreme circumstances) eliminate future insurance premiums. Although investments also come with risk of loss (and higher premiums), under good circumstances this is a powerful tax-avoidance tool: the proceeds usually pass to the beneficiary tax-free.
The cash value of the insurance can also be used as collateral to acquire tax-free loans from the insurance company. Gains may also be handed down to heirs with minimal or no estate or income taxes due.
This form of life insurance is deemed an investment product by the Securities and Exchange Commission, hence the client or the insured must receive a prospectus.
Steven Prusky is President and Owner of Windsor Securities, a Registered Investment Advisor
He is also President of MFIP, Inc, a Commodity Trading Advisor and Commodity Pool Operator
Steven Prusky's Blog 
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