Life Insurance Review and Planning
When your clients originally purchased their life insurance policy, it fit the times and met their original goals.But does that same policy meet your clients’ current needs? Is it performing according to plan? And is it right for today’s markets with its ups and downs and historically low interest rates?Evaluating and reviewing a life insurance policy can determine whether it is performing according to expectations — and meeting the original financial goals of your client
Estate Planning Life Insurance
You're clients worked hard over the years and accumulated considerable assets. Without an effective estate plan their estate could dwindle as a result of taxes and other wealth transfer costs. Although estate taxes and probate expenses are a reality, you can help your clients drastically reduce them with a well-suited estate plan. Life insurance is widely used in estate planning because "cash is king" to pay for estate taxes at death.
Buy-Sell & Key Person Insurance
The success of a busines can grow to depend on certain individuals, turning their death, disability or retirement into potentially devastating events if adequate planning is not in place. Buy-Sell Plans are agreemeents which allow for orderly transfer of ownership, and life insurance can be an ideal source of funding these important forms of planning. The loss of a key person may result in not only a loss in sales but also a potential loss of important contacts and goodwill.
In addition to providing death benefit protection to help ensure your client's family has the funds to meet their needs should anything happen, a cash value life insurance policy is flexible enough to meet a variety of needs during a lifetime. Cash value is built over time through a combination of net premium payments and interest. A portion of the premium payments on a permanent life insurance policy, such as universal life or variable universal life goes toward a cash value account. The potential cash value in the policy grows each year with interest, tax-deferred. A portion of the cash value can be withdrawn in to supplement retirement income, keeping in mind that the policy death benefit is reduced by the amount of the withdrawal.
Long Term Care Insurance
Facts You Should Know: At least 70% of people over age 65 will require long-term care services at some point in their lives.The average length of time that individuals stay in a nursing home is 876 days (2.4 years).The national average cost of one year of nursing home care is nearly $75,000 today and round-the-clock homecare can be more than that. Adding a long-term care rider to a permanent life insurance product can help protect your clients family, hard-earned assets and their future from the high costs of long-term care coverage. There are additional costs associated with such a rider and benefits are subject to exclusions and limitations.
If your client is unable to work due to a sickness or injury, disability income insurance can help them meet expenses and maintain their standard of living. It can help them pay bills like a mortgage, tuition and car payments, and help cover expenses for food, clothing and utilities. By replacing a portion of their income, disability income insurance can help provide financial security until they get back on their feet and return to work. Riders are also available on select life insurance policies so they can cover multiple needs with one contract.
Solutions to help address a wide range of your clients financial needs