Life Insurance

Life Insurance

Life Insurance provides the help your loved ones need in the event of your death so they can continue living.  It can fund expenses while the household regains it’s strength.  Also, it can be used to pay off debts and expenses such as college tuition or a wedding.

It can take a family up to five years to find it’s financial way when a breadwinner is gone and so much can happen during that time.  It even can be used to replace anticipated retirement savings when you are not there to help.

Life Insurance will help your family meet a variety of expenses that may be associated with your passing such as funeral or memorial services, cemetery plot, estate taxes, legal fees, and probate costs. And there may be medical costs.

Also, Life Insurance helps to address other debts that your family incurred, that may compromise their financial security, such as credit card debt or loans.

Life Insurance can ensure your children’s future plans when college and weddings become a reality.

As a business tool, Life Insurance can be used as a current income tax deduction.  If you have employees they may use any cash value accumulated in the purchased products for retirement or another use.  An arrangement can be designed and structured to cover the income tax cost of the yearly bonus given to employees.

Life Insurance can help when your goals turn from building and protecting your assets to transferring them to your heirs, your favorite charity or organization.  More importantly, Life Insurance can be used to pay estate costs, such as taxes.

In a business situation, a Buy-Sell arrangement can be done in which you can provide for the sale of your business to a co-owner, employee or family member or other interested party.  It will create a ready market for your business and can establish the method for valuing the business at the time of sale.

Life Insurance is a valuable asset but over time, your policy may no longer fit your situation.  Did you know you can sell part or all of y our life insurance when you can no longer afford it?  It is called Life Settlement which is a hidden value.