Here’s an under-the-radar investment strategy those in the know take full advantage of.
Yes, life insurance, that phrase you’ve heard your whole life but not might be completely familiar with is, in fact, one of the best ways to bequeath money to your family. Here’s why: You can buy as much life insurance as you want – $300,000, $400,000, etc. – and it will pass on to your beneficiary tax free. Amazingly, life insurance remains the only “investment” that is not taxed.
If you would like to learn more about how life insurance can work for you in a big way call our life insurance advisor specialists at 724-382-1298 or complete the meeting form to start a dialogue.
Secure Money Advisors’ View on Life Insurance
We understand the importance for some of our clients to have a legacy plan as part of their investment portfolio. For some that involves a life insurance retirement plan. Our thoughts?
- From experience, we know that many people spend a lot of effort accumulating wealth but don’t do anything to protect it
- We also know that many of our clients want to leave money for their children
- So, if that is a goal let’s do it in the most tax-efficient way we can
- Life insurance is an excellent way to accomplish this goal
- With life insurance, you can pass on your wealth to your family with no tax repercussions
Secure Money Advisors’ Life Insurance Strategy
While many financial advisors may consider life insurance as an old school legacy investment strategy, we think otherwise. For one, today’s life insurance is not the same thing your grandparents and parents bought. So, at Secure Money Advisors we show our clients new and dynamic ways to utilize life insurance as a solid legacy plan.
Our method, which differs from most financial advisors and certainly most life insurance advisors, involves:
- Creating an irrevocable life insurance trust
- Ensuring that the trust protects the estate from being taxed
- Educating our clients on the many benefits of an irrevocable life insurance trust
Frequently Asked Questions
Aren’t life insurance policies an outdated concept?
If you’re thinking of the old-school insurance policies, yes. But there are new and dynamic life insurance policies that offer considerable benefits for your legacy planning.
Why would I consider life insurance as part of a solid legacy plan?
Because if properly executed it can allow you to pass on your wealth to your children without being taxed.
What’s the best form of life insurance as part of my wealth management plan?
An irrevocable life insurance trust offers you the best non-taxable legacy plan.
An irrevocable life insurance trust sounds complicated. How will I know what to do?
At Secure Money Advisors, our financial advisors have considerable experience establishing irrevocable life insurance trusts and have witnessed first-hand many families who have benefited from this legacy plan. So we will guide you through the process step-by-step.