Life Insurance

You may already own life insurance or be aware of its primary use (providing money to your family or other beneficiaries when you are no longer here). You may also wonder if you still need life insurance at this time in your life. The value that life insurance can bring to a comprehensive, integrated estate plan goes far beyond providing cash liquidity through the payment of death benefits. Life insurance, when used strategically, can help you address your goals and take care of what’s most important to you.

Caring for your family

When you have loved ones, you want to make sure they are well taken care of. It’s important to take every possible step and measure to maximize the real value of the wealth you created.

Perhaps you even wish to assure the welfare of generations of your family into the distant future.

Life insurance, properly structured within various trust instruments, can help you achieve those important goals.

Life insurance can also help you to address a special family situation that presents particular challenges when planning for wealth transfer, such as a special needs individual who will require continual care or members of a blended family whom you want to treat individually but fairly.

Utilizing Trusts remains to be one of the most fundamental and most effective wealth structuring tools to help you address such situations. When appropriate, life insurance can be incorporated into a trust to help you accomplish your financial planning goals.

Passing on your business

When your business is your most valuable asset or represents a large portion of your estate, it may be important to you that your family members who are active in the business can successfully take over after you are gone. You may also want to ensure that you pass on an equitable inheritance among family members who will carry on the business and heirs who are not involved in the business. Life insurance can be used to help equalize your estate.

Continuing your legacy of giving

If philanthropy has been a way of life for you, you may want that legacy of giving to continue, even after your passing. Perhaps you have been devoted to supporting a particular charitable organization and want to make sure that they are able to continue their work.

Life insurance can be a potential solution to such concerns, assuring a guaranteed amount to the charity of your choice, while offering tax benefits to your estate and heirs. Life insurance can also provide a way for you to take care of the charities that matter to you without significantly reducing the amount your heirs receive, providing you with a way to potentially guarantee inheritances and replace wealth earmarked for philanthropy.

Reduce your exposure to the estate tax: With a current top rate of 40%, the estate tax can take a nasty bite out of your lifetime savings. A life insurance policy can remove assets from your estate to reduce your tax exposure. Then the proceeds from that policy pass tax-free to your heirs, creating a greater legacy than you ever thought possible.

Create estate liquidity: Why should your kids have to liquidate a real estate portfolio or an operating business to settle your estate? A life insurance policy creates a tax-free, lump sum of cash that can be used to buy time and options after your death.

Leverage the value of your retirement accounts: Life insurance can do wonders for your IRA. Do you want to avoid losing the majority of your IRA to income and estate taxes upon your death? Do you want to leverage the value of your account for future generations or the charities that you support? Life insurance can do that.

Protect those who rely on your income: Life insurance can eliminate financial stress and make sure money is available for all of your family’s long-term needs after your death.

No other vehicle offers you comparable stability and predictability. If you are interested in creating a secure and lasting legacy, let us show you how life insurance can achieve those goals.

If you already have a life insurance policy, contact us for a complimentary review to find out if your current life insurance policy is still meeting your needs or if there may be a better option available to you.

Common types of life insurance include:

Our team is always ready to help you with Life Insurance and Estate Planning.

Scroll to Top
Skip to content