Life Insurance has many unique benefits, but what you'll benefit most from depends on what exactly you're using it for.
Why Life Insurance?
Most important things in life are wrapped in potential pitfalls and hazards. We use insurance to help make sure those important things are protected. Life Insurance has many unique benefits, but what you'll benefit most from depends on what exactly you're using it for.
Tax Free Death Benefit
Death benefits are paid tax free directly to your beneficiaries, avoiding both Uncle Sam and probate attorneys.
Tax Deferred Growth
Cash values grow tax deferred. This means money that you would ordinarily pay in taxes each year continues to earn interest.
Levered Benefits
One of the biggest advantages is the ability to pay a small amount of premium for a large amount of benefit.
High Rate of Return
Building on levered benefits - Life Insurance can create a phenomenal Internal rate of return. This is what you'd have to earn investing on you own to equal the policy death benefit.
Estate Protection & Conservation
Life Insurance provides a phenomenal way to protect and conserve one's estate. The estate tax is the most cruel and unfair tax on the books, it's a tax on everything you own. Through its tax free death benefit, using life insurance can help alleviate (and sometimes eliminate) that burden. We can specifically design a plan for your estate.
Types of Life Insurance
Universal
This is the most competitive form of permanent insurance with guaranteed death benefits, cash values, and nursing home coverage riders.
Term
This is temporary coverage. Term offers higher amounts of death benefit for smaller premiums with the trade off being that it expires.
Whole Life
This is traditional permanent insurance, and today is widely used for people who cannot otherwise qualify for universal coverage. Though largely outdated, whole life still has many uses.
Survivorship
This is permanent coverage insuring two people. Death benefits are paid upon the passing of the second insured. Survivorship Insurance is commonly used in estate tax planning or charitable gifting situations.