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Jun 6th
Everyone who cares for the financial well being of another should consider buying life insurance to ensure death won’t cause financial hardship. In some cases, for example, caring for children, the majority of the financial need may be eliminated when they grow up. So, the need may be covered with term life insurance
But what if the child has special needs and may never be totally self sufficient? Working with an attorney, you may want to set up a trust that is funded upon the death of one or both parents. Unless you knew the parent or the special needs child would die within the term policy’s term, a whole life policy would provide more assurance that the trust would be funded, as intended when the parent(s) died. Also, there would be no need to fund the trust with investments during the parent’s life, avoiding the additional cost of generating tax returns prior to the insured’s death.
Whole life insurance policies ensure one’s financial plans for the beneficiary – be it for a loved one, a favorite charity or a business partner – actually occur the way the policy owner intended it to occur. Whole life, including variants such as universal life, variable life, etc, is a very simple and tax efficient way for one to transfer one’s financial estate to others. Call us to discuss your estate plans and concerns. You’ll be surprised how whole life will allow you to do things you never thought you could do. For more information, check out our life insurance web page.
Jan 5th
Will this be the year you make more progress on those financial plans for retirement or college savings we keep asking you about? Will this be the year you get wills and other estate plans drafted or updated? You will be a year older. Will your health improve or could an unexpected medical issue appear? To work on these resolutions, check out our web site for tools to determine the right type and amount of life insurance or disability income insurance. We also have links to retirement accumulation calculators. Finally, we have the background to help you make progress in all these areas. Call us to get started on your resolutions.
INVEST Financial Corporation (INVEST), member FINRA, SIPC, a registered broker dealer and federally registered investment advisor, is not affiliated with Beacon Insurance Group, Inc.. INVEST does not provide tax or legal advice. Please consult your tax or legal adviser for guidance on your particular situation. Securities, advisory services and certain insurance products are offered through INVEST and affiliated insurance agencies. Advisory services are offered through INVEST Financial Corporation, a federally registered investment advisor.
Jun 25th
Don’t make this mistake with your life insurance policies, and retirement plans! The New York Post (January 31, 2005) reported that a Brooklyn man says he was left destitute when his late wife’s Teachers’ Retirement System pension, worth $900,862, was awarded to his sister-in-law on a technicality. The wife had never updated her beneficiaries on her pension records, even though she had been married for nearly 20 years. Review your beneficiary forms – both employer provided and individual – on your life insurance policies and retirement plans. Call us to go over these plans with you for both the right beneficiaries, and the right mix of investments for your risk tolerance.
