If you’re a business owner, ask yourself:
“How much capital do I need to take care of my family, my estate, my charity if I die prematurely?”
If you’re a high-earning executive, ask yourself:
“Am I depending on my employer-paid group life insurance to take care of family, debts, and kids’ college if I pass away suddenly.”
Three out of four businesses in America are underinsured.1 And, more than 2.1 million highly compensated executives in America risk untold financial loss, if they can no longer earn income, whether from death or disability.
Whatever your assets, estate taxes can chew up 40 percent unless you’ve done some serious estate tax planning.
Are the remaining assets sufficient to help your spouse or partner and children enjoy an acceptable standard of living?
If you love your family, it’s time to recalibrate your income and asset protection.
Close the Gap
Average face amounts on group life may only be as high as $75,000 in death benefits. Here’s how you can fill in the gap with customized individual policies:
Temporary Term Life
Basic insurance only, term life premiums pay death benefit and income replacement at death for a specific period, say 10 or 20 years. While premiums are less expensive than permanent insurance, once the term expires, coverage ceases or premiums rise; it can be an acceptable low-cost option to fill gaps.
Permanent Cash Value
Cash value insurance is permanent life insurance because it provides coverage for the policyholder’s life. Plus, it accumulates a cash value reserve for the policy owner. If the value increases sufficiently, it could pay your premiums. Term is renting your home. Permanent is buying your home.
Ask us about Whole Life, Universal Life, Indexed Universal Life, and Variable Universal Life. Each carries distinct features, benefits, and advantages. Let us help you sort out the ideal solution with common sense education.