Risk Management, Insurance
Risk products like life insurance are the foundation of a sound financial security plan. Life insurance’s primary role is clear: to protect assets and future income from catastrophe and to provide financial security at death. However, life insurance also adds value in all four cornerstones of financial security planning.
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Examples of how life insurance adds value in all four cornerstones of financial security planning:
Enhance asset allocation, diversification and risk management through tax-advantaged accumulation of cash value in permanent life insurance Protect spouse’s lifestyle Tax-effectively supplement retirement income for client, spouse and long-term or home care Fund executive benefit plans Protect income and lifestyle, keeping within budget Cover temporary needs, such as mortgage or loan For personal o business opportunities or emergencies, access tax-advantaged cash value in permanent life insurance
Protect assets and income from catastrophe Protect estate from taxes and ensure smooth Transfer of wealth Provide tax-advantaged accumulation of cash Value in permanent life insurance and tax-free Payments to beneficiaries Provide for children’s, grandchildren’s and Dependent adults’ future Protect spouse’s lifestyle Leave legacy for heirs or charity Equalize estate among heirs Fund business succession and continuation Total disability insurance benefit Premium waiver insurance benefit Disability lump sum benefit (London Life Universal life only) Advanced death benefit payment, if basic Life insured becomes terminally ill
