Life Insurance can be a powerful asset when correctly structured. The key to successful implementation is understanding the client’s needs and understanding the insurance industry. No two clients are the same and so each insurance design must be unique as well. When structured correctly, Life insurance can provide a tax free investment, provide financial support to heirs, fund charitable organizations, or fund a business continuation plan or employee benefit plan.
If you have existing life insurance, it should be regularly reviewed to ensure it meets your changing needs and is structured to be the most effective option available to you. Unfortunately many life insurance policies are sold by agents looking to make a quick commission from a captive company with little to no attention paid to available options or real client needs.
Often Life Insurance is looked at as simple protection for the family. However, applications extend well beyond that. Life Insurance is commonly used for retirement planning, wealth transfer to future generations, enhancing gifts to charities and many other uses. As an employer, life insurance cannot only offset costs associated with employee or executive benefit plans, but can actually turn your benefit plan into a cash generating asset.
We work with the individual client to assess their real needs determine the appropriateness of existing coverage or new coverage and if necessary work to provide the best fit, best cost option to meet the stated goals.
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