 | Life Insurance Quote Form |
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Life insurance is a unique asset which is used to solve
some of life's perplexing financial problems due to its
potential high yield and its tax-favored benefits.
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1. CREATE AN ESTATE - Where time or other circumstances have kept the estate owner from accumulating sufficient assets to care for his or her loved ones, life insurance can create an instant estate.
2. PAY DEATH TAXES - and other estate settlements costs. These costs can vary from a low of three to four percent, to over 50 percent of the estate. Federal Estate Taxes are due nine months after death.
3. FUND A BUSINESS TRANSFER - Business owners often agree to buy a deceased owner's share from his or her estate after death. Life insurance provides the ready cash to finance the transaction.
4. COLLEGE FUND FOR CHILDREN OR GRANDCHILDREN - Cash value increases in a policy on a minor's life (or the parent's life), can be used to accumulate funds for college.
5. PAY OF THE HOME MORTAGE - Many people would like to pass the family residence to their spouse or children free of any mortgage. Often a decreasing term policy is used, which decreases in face amount as the mortgage balance is paid down.
6. PROTECT A BUSINESS FROM THE LOSS OF A KEY EMPLOYEE - Key employees are difficult to attract and retain. Their untimely death may cause a sever financial strain on the business.
7. CREATE A RETIREMENT FUND - Current insurance products provide competitive returns and are a prudent way of accumulating necessary funds for retirement years.
8. REPLACE A CHARITABLE GIFT - Gifts of appreciated assets to charitable Remainder Trusts can provide income and estate tax benefits. Life insurance can be used to replace the value of the donated assets. Proceeds form life insurance policies can also be paid directly to a charity.
9. GUARANTEE LOANS - Personal or business loans can be paid off the with insurance proceeds.
10. EQUALIZE INHERITANCES - When the family business passes to children who are active in it, life insurance can give an equal amount to the other children