When it comes to leaving a lasting impact on the world, sometimes we need to think beyond our own lifetimes. One powerful way to really make an impact is by utilizing charitable life insurance.By including charities in your life insurance plans, you not only have the opportunity to make a significant philanthropic difference but also [...]
When it comes to life insurance, couples have a few different options. They can each purchase their own policy or opt for a joint life insurance policy.Both choices have pros and cons, so it’s important to weigh them carefully before making a decision.Here’s a closer look at types of joint life insurance and how it [...]
Have you ever wondered how affluent families create generational wealth? One dependable strategy involves investing in a survivorship life insurance policy.This informative guide delves into how wealthy families utilize survivorship life insurance as part of a comprehensive estate planning strategy.Quick Link NavigationWhat is survivorship life insurance?How are survivorship life insurance policies helpful in estate planning?What [...]
When setting up a life insurance policy, it is necessary to select a beneficiary to receive the proceeds upon your death.Many clients have questions about the role of a primary beneficiary and how it differs from the privileges of a contingent beneficiary. Ensure peace of mind by designating primary and contingent beneficiaries, ensuring your loved ones are [...]
For several decades now, many wealthy people have often purchased a second-to-die life insurance policy to protect the value of their estate.However, many families are no longer responsible for estate taxes because of the huge tax exemption. This has put many people with enormous estates in a state of flux with their estate planning.Of course, many [...]
Historically, affluent families primarily utilized second-to-die life insurance policies for estate tax protection.However, with changes in the estate tax laws and the substantial increase in estate tax exemptions, many wealthy households no longer face estate taxes.Despite this shift, second-to-die policies remain a valuable tool for strategic wealth transfer within families. Our comprehensive guide explores how to [...]
If you’re wondering why affluent individuals often choose to invest in life insurance retirement plans, you’ve come to the right place.Life insurance can be utilized alongside other investments for a well-rounded retirement strategy.Although not the same as 401Ks, IRAs, or Roth IRAs, many wealthy individuals have found value in purchasing these policies.LIRP insurance offers numerous [...]
Life insurance premium financing gives wealthy people greater control over their illiquid assets by using a bank loan to purchase significant death benefits.We will discuss how premium financing works, its benefits and drawbacks, and how it could fit into your financial plan.Read on to learn everything you need to know about financing life insurance premiums [...]