Life Insurance

Many parents of baby boomers and boomers themselves have spent their lives working hard, raising children, paying down mortgages, and funding college educations. Along the way, they’ve probably been able to save some money for their retirement years and now want strategies for maximizing what they have. Quite often, the desire to pass along some of their hard-earned money to children, grandchildren, church, or charity is also part of their long-term financial goals.

Fortunately, life insurance producers can offer an ideal solution for many: life insurance. By simply allocating a portion of their invested assets to a policy, clients can:

• immediately increase their estates;
• provide beneficiaries an inheritance that’s potentially free of federal income tax;
• pass money directly to beneficiaries, avoiding probate courts;
• have a guaranteed lifetime death benefit;
• receive their death benefit while living in the event of catastrophic illness, including: terminal illness, nursing home confinement, and home health care/adult day care/other qualified care (this assumes the policy benefit is available);
• depending on policy provisions, access guaranteed cash values for financial emergencies with penalty-free withdrawals after the first policy year;
• avoid market risk; and
• pay a one-time premium with no renewal decisions to make.