Let Properly Designed Life Insurance Protect Your Lifestyle
Properly designed insurance (life, disability and long-term care insurance, and annuities) can help protect your lifestyle and your business in tax-efficient and cost-effective ways. But sensible insurance planning requires knowledge of the science behind insurance. It's not rocket science, but it is a science – like risk analysis, carrier due diligence, product selection, policy design, underwriting, knowledge of the tax code, and so on – and it requires considerable expertise and experience. We can help you navigate through the process and select carriers and products that best fit your specific needs.
Protect Your Estate
Life insurance is a highly tax-efficient and cost-effective tool to provide cash to your heirs to pay estate tax. This is especially true if most of your assets can't be readily converted to cash. If your estate owes tax, and there isn't enough cash to pay the tax, how will your heirs come up with cash? Well, they might end up being forced to sell your (hard-earned) assets at a deep discount. So, if you are rich but cash-poor, you've got some planning to do.
Protect Your Business
As a business owner, your business is likely the most valuable asset you own and it's worth protecting it. With insurance, you can "buy time" if you or your key employee dies or becomes disabled. You can also fund a buy-sell plan, providing tax-free funds to the surviving owner(s) to buy out the deceased or disabled owner. And to attract and keep key employees, you can provide executive benefits designed especially for them.
Protect Your Family
Whether or not you'll achieve your goals and dreams is predicated largely on one thing: your ability to earn income. If you die too soon (or live too long!) or become too sick to work, your plan will likely go out the window. It's actually quite simple. No income = no plan. Fortunately, you can shift a lot of these risks to insurance companies. They are in the business to assume such risks and absorb losses for you.
What Properly Designed Life Insurance Can Do For You
Leave cash to your heirs so they can pay estate taxes
Equalize inheritance among your children
Maximize generational wealth
Provide financial security for your child with special needs
Keep costs of long-term care from depleting your assets
Get guaranteed lifetime income to plan for longevity
Bypass inherited IRA tax rules
Attract and keep your executives with a superior compensation package
Carve out a retirement plan just for your executive team
Carve out life and/or disability insurance just for your executives
Protect the value of your business so you can sell at a premium later
"Buy time" if you or your employee dies or become too sick to work
Provide cash for you to buy out your partner if they retire, die or become too sick to work
High Income Earners
Protect your family from financial ruin if you die too soon
Continue your income if you get injured or become too sick to work
Add a low-volatility, tax-efficient asset class without market risk to your investment portfolio
Save money without being taxed on the growth
Withdraw money without being taxed
Save money without contribution limits, early withdrawal penalties or required minimum distributions