Life Insurance

Life Insurance

Life Insurance has become a multi-purpose and multi-use financial vehicle that has helped individuals, families and business owners conquer many financial goals. Since the ancient Roman times, Life insurance is financial tool that the very wealthy used to transfer risk. Today, life insurance is used by people from all backgrounds for different purposes such as

Protect your loved ones

It’s already difficult for family and loved ones to cope with the loss of a loved one. Having a proper death benefit ensures that families have financial stability and not additional pain and uncertainty.

Accumulate Future Tax- Free Income Source

For decades, individuals have focused on growing their tax deferred retirement accounts, creating a retirement time-ticking tax bomb. The more savvy tax conscious individuals create a source of tax free income for the future through cash value life insurance.

Fund a Buy-Sell Agreement between Business Partners

Tax benefits alone isn’t the only reason why life insurance is a great tool to fund a Buy-Sell agreement, but it’s also a way of funding these legal agreements without taking lump-sum amounts from a business’ operating account. Not to mention, owners like to be able to recuperate in dollars some of the value of losing a key partner in the event of death.

Retain Talented Employees

Otherwise known as “Golden Handcuffs”, it encourages highly compensated talent to remain with your organization by deferring compensation and benefits through Cash Value Life insurance for a minimum specified period.

It is ALWAYS a good time to apply for life insurance. Every insurance company has their own underwriting guidelines, and it’s worth finding out what the insurance company is willing to offer.