Leave a legacy

Leave a legacy

Everyone has a legacy — people we love, causes we care about, and goals we want to make sure are achieved, even if we're not there to take care of them.

Part of your financial plan may also include building up assets that you want to pass on to others. The challenge is that those assets can be eaten away by taxes, inflation, and the risings costs of health- and long-term care in retirement.

How can life insurance help?

With a bit of planning, preserving and enhancing your legacy may be simpler than you might think.

Life insurance is a tax-advantaged financial tool that uses a portion of your assets to pay premiums today to help ensure your legacy goals are accomplished in the future.

Upon death, the proceeds the policy pays to your beneficiaries are generally income tax-free.

That money can then be used to help accomplish the goals that were important to you.

Life insurance can help you to:

Protect your legacy

Secure the lifestyle and resources you want to provide for your family.

Make things easier for beneficiaries

Get resources to them quickly by avoiding probate and minimizing or eliminating tax burdens.

Support important causes

When a qualifying charity owns your policy, your policy premiums may be tax deductible.

Four estate planning steps

Planning for loved ones with special needs

Charitable giving though life insurance

A bit of guidance can help

Everyone’s picture of an ideal legacy is unique, and there may be options you haven’t considered that will enhance what you can achieve.

To customize a legacy plan, you and your financial professional will weigh important factors like:

  • The goals you have for your legacy plan – including the “who, what, when, where, why and how”
  • Your current assets, including insurance you already have in place
  • The current pieces of your plan, including wills and trusts
  • Your current health and insurability
  • Your current tax circumstances, and the likely tax circumstances for your beneficiaries

Together, you can find a plan that fits your needs and budget, and provides financial resources for the people and causes you care about.

Want to learn more about solutions from Ohio National?

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Products issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Registered products distributed by Ohio National Equities, Inc., Member FINRA. Product, product features and rider availability vary by state. Guarantees are based upon the claims-paying ability of the issuer. Issuers not licensed to conduct business in New York. Disability income insurance is not available in CA. Withdrawals and loans may reduce the death benefit, cash surrender value and any living benefit amount.

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