Equipping Points:
When you’re younger, life insurance is often thought of as an income replacement as needed. But as you get older and into retirement, you might find other uses for life insurance. When thinking ahead for your estate and how it passes to beneficiaries, life insurance can prove to be a useful tool.
Currently, the proceeds from life insurance are tax-free. How does that change how you include it in your financial plan? Eric outlines some of the options and benefits life insurance can provide.
Life insurance can be a big help in a time of crisis after someone passes away. But it can also have a number of uses right now, depending on how you choose to leverage it.
Here’s some of what we discuss in this episode:
- Life insurance for income replacement.
- You can use life insurance for estate liquidity.
- Locking in a low premium.
- Passing on generational wealth.
- Life insurance can help with business succession.
- Use it as a tax-free income.
- Long-term care coverage can be a part of it.
If you have any questions about what we discussed on the show or want to follow up with any financial planning questions of your own, get in touch with us and schedule a visit here.
Today’s Takeaway:
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