Life Insurance
A popular misconception about life insurance planning, is that it’s something to do with ensuring others (your policy beneficiaries) enjoy the fruits of your insurance once you’ve passed. While that is just one aspect of planning for the inevitable, if executed properly, life insurance planning can offer multiple benefits – even as you live to enjoy them!
Why Life Insurance Planning Is Important For Individuals & Families
Death benefits pay-out for survivors is only one aspect of life insurance. If the policy holder passes, the cash value of the policy can help young families meet their financial needs, or can even help pay off a mortgage. However, there are other facets of life insurance that are equally important.
​
Most life insurance products allow policy holders to tap into funds as the value of their policy grows over time. In case you are looking for tax-deferred gains, a life insurance policy offers that too, because you are only taxed once you withdraw the money from your policy. With the right life insurance planning strategy in place, your policy can act as a great source of tax-free wealth transfer to your beneficiaries.
​
In retirement, a well-planned life insurance strategy can serve to generate additional retirement income, or it might even provide additional living health care benefits in your old age.
What We Can Do For You
Not every life insurance policy provides you all of these benefits. Our experienced Life Insurance Planning specialists will discuss your needs in detail, and then customize a life insurance plan that meets those specific goals.
​
Some of the life insurance planning tools and products available to our advisors include:
Term Life Insurance
If you need protection for a specific period, Term Life Insurance is a cost-effective choice. It's ideal for covering short to intermediate terms, such as until your children are older or to pay off an unpaid mortgage.
Permanent Life Insurance
Permanent life policies offer lifelong insurance protection and can grow in value. You can use the cash value later for needs like funding a child's education or boosting retirement income.
Participating (or Whole) Life Insurance
Based on your investment goals, our advisory team might suggest a Participating Life Insurance policy. It offers tax-advantaged growth for cash value and death benefits, and you may borrow tax-free funds against the policy’s cash value.
Universal Life Insurance
For higher savings and earnings potential, consider Universal Life Insurance. It offers flexibility with adjustable coverage and premiums, and allows you to withdraw part of the cash value.
Variable Life Insurance
If you want to leverage stock market performance through your insurance, consider Variable Life Insurance. It lets you invest your cash value in insurer-recommended stocks, bonds, and other funds. Our specialists will guide you through the risks and opportunities.