In the Third Week of Planning, My Advisor Said to Me…

Life Insurance is Worth Considering

Once the initial steps for estate planning are completed, it’s time to consider life insurance as part of the plan.  There are many ways that individuals use life insurance:  as a tax-free benefit, for income protection, as a retirement alternative, and as part of their legacy planning.  We often see multiple policies implemented within one family to serve all these purposes.  The size of the policy/policies that is/are needed and the premium tolerance should be weighed as part of the estate planning process before the life insurance acquisition begins.   Then there are several funding strategies to consider that can help a client achieve their goals using life insurance coverage.  Detailed fact finding and questioning of the individual or family’s goals and objectives is imperative when developing the appropriate structure for the policy(ies).  It is essential to work with a knowledgeable team of advisors to develop a viable strategy. 

Heirmark is proud to contribute our experience when someone contemplates the appropriate components of their financial plan.  Contact us with any questions or opportunities to help your clients achieve their goals.  This is what we enjoy doing for only a select number of families, businesses, and charitable institutions each year, and we look forward to hearing from you.