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Let Properly Designed Life Insurance Protect You

Life insurance is a unique financial instrument with features that are available only in life insurance. For example, Uncle Sam has given his full blessing to grieving family members (or a devastated business) to receive life insurance proceeds free of income tax. These unique features open up opportunities for tax-efficient and cost-effective solutions for complex financial issues. 

​But beyond its uniqueness, life insurance is also complicated. There is a science to sound insurance planning. It's not rocket science, but it is a science – like needs analysis, carrier due diligence, product selection, policy design, underwriting, knowledge of the tax code, actuarial and legal aspects of life insurance, and so on – which requires considerable expertise and experience. 

Sophisticated Strategies for Your Unique Needs

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Wealth Transfer Strategies for
​Taxable Estates

  • Provide enough cash to your heirs to pay estate taxes
  • Maximize generational estate
  • Equalize inheritance among your children
  • Provide financial security for your child with special needs
  • Protect your business value
  • Protect your assets from the costs of long-term care
Learn more
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Executive Benefits for
​Businesses and Owners

  • Benefits for key employees to help attract and keep them
  • Retirement plan just for your executive team
  • Life and/or disability insurance just for your executives 
  • "Buy time" if you or your key employee dies or is too sick to work
  • Fund your buy/sell plan to ensure smooth business continuation
Learn more
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Tax Minimization Strategies for
High Income Earners

  • Save money without being taxed on growth
  • Withdraw money without triggering income tax
  • Save money without contribution limits or distribution requirements
  • Add a low-volatility asset without stock market risk to your portfolio
  • Stretch out your IRA without being bound by IRA tax rules
Learn more

Life Insurance: Unique... and Complicated

THERE ARE FEATURES THAT ARE AVAILABLE ONLY IN LIFE INSURANCE
Life insurance* is a unique financial instrument with features that are available only in life insurance.

​For example, only annuities provide you with a guaranteed income for as long as you live. Similarly, disability insurance can assume the risk of losing your income if you're too sick to work. On top of that, Uncle Sam has given his full blessing to grieving family members (or a devastated business) to receive life insurance proceeds free of income tax.
LIFE INSURANCE IS COMPLICATED
Life insurance is also a complicated financial instrument.

​With due respect, most financial advisors (even good ones) are stumped when it comes to life insurance. It doesn't help that there's so much misinformation online about life insurance, often with little intellectual honesty or thoughtful analysis, even by otherwise credible and well-meaning folks. So is it any wonder that average folks are confused about life insurance?
THERE IS A SCIENCE TO LIFE INSURANCE
There is a science to life insurance. It's the antidote to misinformation and unfounded biases.

​Sound insurance planning involves risk/needs analysis, carrier due diligence, product selection, policy design, underwriting, knowledge of the tax code, actuarial aspects of life insurance, legal aspects of life insurance, and so on. As you might have guessed, the "science" part of life insurance requires considerable expertise and experience.
LIFE INSURANCE SHOULD MAKE SENSE IN THE CONTEXT OF YOUR OVERALL PLAN
Life insurance should make sense in the context of your overall financial plan.

There are many different reasons for getting insurance. ​You might want to be sure your family will be okay if you die. Or perhaps you want to leave enough cash behind so your heirs can pay estate tax. Maybe you're in your peak earning years and feeling vulnerable about the possibility of becoming too sick to work. Whatever your goal or concern happens to be, life insurance should always be an integral part of a sound financial plan. 
*By life insurance, we mean LIFE INSURANCE, DISABILITY INSURANCE, LONG-TERM CARE INSURANCE and ANNUITIES. 

What Life Insurance Can Do For You

Taxable Estates


​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 for your heirs

Businesses


​Protect the value of your business so you sell it at a premium later

"Buy time" if you or your employee dies or become to sick to work

Provide cash for you to buy out your partner if they retire, die or become too sick to work

Attract and keep your executives with a superior compensation package 

Carve out a retirement plan just for your executive team
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Carve out life and/or disability insurance just for your executives

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
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info@elliottbayinsurance.com
206.486.8700 ext. 702
Get started
  • About
    • Deliverables
    • Life Insurance
    • Team
  • Practice Areas
    • Taxable Estates
    • Businesses
    • High Income Earners
  • Fee-Only Advisors
  • Get Started
  • Blog