Annuities - Life Insurance - Long Term Care - Medicare Supplements - Risk Management

While the most popular use for life insurance is for burial/final expenses, life insurance can actually be used in a vast number of applications.

Personal Protection

It’s 4pm.  There’s a knock on the door.  It’s the police.  They’re at your door to tell your spouse you’ve died in an accident.  Will your family be prepared to live without you?  Will they survive financially?  Will your kids go to college?  The last thing you want to do is leave your family to struggle because you didn’t want to plan.  According to LIMRA, 44% of US households either don’t own life insurance and believe they should, or own life insurance and believe they need more.  Moreover people feel they don’t have a plan in place to provide a decent standard of living for their family if they died tomorrow.  Don’t be left in this situation – there are many affordable ways to protect you and your family from ever having to deal with this scenario.  Ask us how, we’d be glad to help.

Wealth Transfer

One of the best ways to transfer your wealth is through the use of life insurance.  Using a vehicle like life insurance in conjunction with other planning techniques is a way of ensuring that a person’s estate is passed onto their beneficiaries in the most financially efficient and tax effective way possible.  In most states life insurance will bypass the probate process and go directly to the beneficiaries to avoid and unwanted hassles.  The aims of such techniques go towards avoiding the likelihood of any next of kin from suffering, minimizing the risk of family squabbles, and keeping the true value of your estate for your children instead of it going to the government.

Business Solutions

Are you tired of the fact that you can’t single people out with your qualified plan at work?  Know this: 72% of Fortune 500 companies run a life insurance benefit program – and you should be too.  If you are a business owner, then most likely you are interested in the “4 R’s”.  Recruiting Quality.  Retaining Employees.  Rewarding Employees/yourself.  Retirement/Retirement Equity.  The Legacy Wealth Management team will take the time to understand your culture…and help you realize what you are trying to accomplish with a corporate life insurance plan.  If the focus is on tax deductions…we can show you how to accomplish that.  And while deductions won’t make anyone wealthy, we can also show you how to use Cash Flow Leverage to create a more efficient use of your capital.  Call us today and allow us to show you how to implement a corporate life insurance program to benefit your business.

For more information on Life Insurance please contact the Legacy Wealth Management Group.