Life Insurance
Why Life Insurance Matters?
Life insurance has many unique characteristics that may make it an appropriate solution for a variety of uses in addition to the death benefit coverage. Some of these characteristics include:
- Policy cash values accumulate on a tax-deferred basis.
- Policy death benefits are received income tax-free.
- Policy cash values, in many cases, may be accessed on a tax advantaged basis, therefore, can be used as a supplemental retirement plan not subject to the restrictions of qualified plans. Loans and partial withdrawals will decrease the death benefit and cash value and may be subject to policy limitations and income tax.
- Can allow families to spend down their retirement plans knowing that their legacy to loved ones is taken care of.
- May provide tax-favored income for children’s education.
Traditional Life Insurance
Wealthy families often possess various assets, some readily convertible to cash, while others require time to mature within their wealth-building and transfer strategies. The challenge is that the volatility of financial markets can lead to significant fluctuations in their assets.
Traditional life insurance steps in to offer a solution. It delivers attractive returns on investment and provides immediate financial support to the family upon the passing of the insured individual. This financial infusion helps stabilize the peaks and valleys in their assets, preventing the need to hastily liquidate assets to cover estate taxes in the event of the insured’s demise.
Key Purposes
- Establish a guaranteed and stable income source within your family's long-term financial plan.
- Ensure the availability of cash for estate tax payments, eliminating the urgency to sell assets.
- Safeguard other estate planning strategies that require time to yield results.
- Facilitate the provision of funds for specific gifts to family members or charitable organizations.
Services
How can we help you?
Our goal is to help you reach your lifelong objectives. We offer access to exclusive products and services tailored to the needs of affluent individuals, executives and business owners – providing value and excellence for over 20 years.