For many people, hearing the words “life insurance” makes their eyes glaze over as they politely look for the nearest exit.
We get it and we want to change that perception. Rather than something you buy out of obligation from your college buddy to make him stop calling, we want you to see life insurance as an incredibly powerful tool that supports and optimizes all your other planning.
As part of a comprehensive wealth management strategy, life insurance can play an important role in solving specific objectives, including protecting families and businesses, accumulating future income and creating tax efficiency. Here’s how:
Life Insurance for Successful Individuals and Families
- Income Protection: Everyone hates thinking about their own mortality, but if something happens to you, you want your family to be taken care of. Life insurance provides the safety net that ensures your family will be okay financially should something happen to you.
- Wealth Transfer: Perhaps nowhere is life insurance more powerful than when it comes to estate planning. From providing liquidity to meet estate liabilities when needed to estate equalization (especially where a family business is passed to some, and not all, of the heirs), life insurance can help ensure the seamless transition of your legacy.
- Supplemental Income: Using the benefits of life insurance to accumulate savings and then access those funds in a tax-advantaged manner is a way to provide additional income at any stage of your life.
- Long-Term Care & Disability: 70% of adults aged 65 years and older will require long-term care at some point – and that care is expensive. Even successful individuals who have saved and planned can see their nest egg eroded by these costs. Long-Term Care and Disability Insurance can help preserve your hard-earned legacy.
- Charitable Giving: Very few know that life insurance can help make a lasting impact on your community and magnify your philanthropic impact – and can do so while providing positive tax benefits for you and your heirs.
- Private Placement Life Insurance & Annuities: For certain qualified investors who have experienced a liquidity event, these structures can create tax efficiencies.
Life Insurance For Businesses
- Succession Planning: Life insurance is a useful tool to provide liquidity at the exact moment needed to fund liabilities that arise under buy-sell arrangements.
- Key Person: Losing a vital employee can seriously impact a small business. Life insurance proceeds can provide the lifeline that helps a company navigate difficult times without having to sell assets or take other drastic measures.
- Executive Compensation & Benefits: Recruiting, rewarding and retaining top employees is increasingly important in a competitive labor market. Life insurance is able to provide funding to support benefit plans that make your company a top choice for employees and recruits.
Comprehensive Review
In addition, we offer complimentary, comprehensive independent life insurance reviews that identify how well your existing policies are performing and whether they continue to meet your needs.
Our goal is to ensure your life insurance is efficient and adapts to your life and goals.
