LIFE INSURANCE
Life insurance is essential to a comprehensive wealth plan. While most people think life insurance only provides benefits to select beneficiaries upon death, there are numerous creative ways that insurance can be used by a person during their lifetime.
We have a passion to bring these ideas and structures to our clients. We have a specialized team, both internal and external, that includes insurance advisors, tax and commercial lawyers, and actuaries.
SOME IDEAS TO CONSIDER:
Estate planning, including protecting your estate from paying tax, passing wealth to family, and charitable giving.
Making a legacy donation to a charity by way of a whole life policy during your lifetime and obtain a tax deduction.
Borrowing the full amount to pay for whole life insurance premiums, including the possibility of making the loan payments tax deductible, in order to enhance your death benefit.
Obtaining permanent/whole life insurance for your children to ensure they will be insurable and to build up cash values that will benefit them later in life (an excellent plan if you have young children or grandchildren).
Term policies to supplement your current life insurance and/or to supplement the insurance available through your group plan to ensure that you will have life insurance in the event you leave your employment.
Buy/sell insurance to cover the cost of buying out a shareholder in the event of death.
Key man insurance to protect your business in the event a key shareholder dies.
Split dollar insurance.
Critical accident insurance.