Insurance strategies can play a central role in a comprehensive financial plan. They can offer peace of mind, but researching the number of options available to you can be a daunting task. Our advisors can guide you through this process and work with you to ensure that you find the right product to address your particular needs. Building a well-designed insurance plan and understanding how it fits together with the rest of your assets can give you the peace of mind that you and your loved ones are well taken care of.
The most obvious need for life insurance is to protect one’s family and dependents in the case of a calamity. The insurance proceeds can be used to pay outstanding mortgage balances and other debt, replace income in order to protect current lifestyle expenses, or pay taxes due upon death.
The death or illness of an active business owner or a key person can have devastating financial consequences. In fact, the business may not survive it without emergency resources. The right insurance policies can provide liquidity in the transition period after the death or extended sickness of key personnel, fund a buy-sell agreement, or cover overhead expenses.
Under the right circumstances an insurance policy can generate an after-tax rate of return that is often difficult to match in traditional investment vehicles. Whether you plan to leave an inheritance, help a charity, or create an endowment for a foundation, life insurance contracts can serve as a tool in in a wealth transfer plan.