How Life Insurance Can Fit Into a Broader Wealth-Building Strategy
Life insurance should not replace an entire wealth-building plan. For some households, however, permanent insurance can become one component of a larger system. Long-term wealth may come from businesses, retirement accounts, investments, real estate, cash reserves, insurance, and other assets. Certain permanent policies may provide death benefit protection, cash value, liquidity through eligible policy loans, […]
Case Study: How a Business Owner Might Plan for Succession
Imagine a company owned equally by two partners. It has employees, loans, long-term customers, and significant enterprise value. If one owner dies, several questions arise: Who owns the shares? Can the surviving partner afford to buy them? Does the family want to become involved in the company? A properly drafted buy-sell agreement can establish a […]
Case Study: Protecting a Young Family With Layered Life Insurance
Imagine a married couple in their mid-30s with two young children, a mortgage, two incomes, retirement savings, and college goals. Their largest risk is the loss of years of future income. A large term policy may efficiently protect the years until the children are independent, the mortgage is smaller, and retirement assets are larger. The […]