Life Insurance Strategies

What Life Insurance Can Do

During your working years, life insurance protects your family by paying off debt and replacing income if you were to pass away before life expectancy. Policy benefits would allow your family to pay down debt, fund college, replace your income and maintain their lifestyle. Although you are no longer present with them, you are still providing for them.

However life insurance is also very effective tool for retirement, estate and legacy planning. The leverage, tax treatment of benefits, and the tax deferred buildup of cash value in permanent policies lends life insurance to many uses such as:

  • Providing a non-reportable stream of income during retirement
  • Funding your business continuation and succession plans
  • Creating the liquidity needed to pay estate taxes
  • Equalizing the value of an estate among heirs
  • Maximizing the payout of a pension
  • Paying income tax owed on qualified assets when transferred
  • Planning for a loved one with special needs
  • Pay for qualified long-term care services provided at home or in a facility
  • Providing contractual guarantees that other investments may not offer