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:
Secure the lifestyle and resources you want to provide for your family.
Get resources to them quickly by avoiding probate and minimizing or eliminating tax burdens.
When a qualifying charity owns your policy, your policy premiums may be tax deductible.
