International Wealth Mentality Month

Life Insurance Planning Timeline

January is International Wealth Mentality Month.  This month serves as a reminder to grow wealth by reviewing and adjusting one’s financial portfolio.  There are several ways in which life insurance might benefit a single individual:  estate planning, income protection, long-term care benefits, retirement planning, etc.  While it’s prudent to remember that life insurance gets more expensive and difficult to acquire as we age, not all policies need to be implemented at once if it’s too daunting of a task.  Each policy should be carefully considered as part of the overall picture and placed when the timing is right for each client.

The graphic below provides an example of financial planning using life insurance.  All the needs are addressed over a 10-year period where the policies are revisited on an annual basis to determine if any needs have yet to be met.  This approach can be tricky if the client has a change in health but can be beneficial if the client does not have the time or attention span to address of all the needs at once.

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.