Today’s Smart Money Question:
Life insurance is a product we get asked about all the time as people are trying to determine if they need to hold on to an old policy or even bother getting one at all. We get this question all the time and there have been a couple different scenarios come up recently that we wanted to bring to the show. So we’ll address those and go through the reasoning behind what we’ve discussed with clients.
We break down the benefits of term policies versus permanent life insurance, such as whole life and universal life, including those with long-term care perks. Learn about the specific needs of a divorced woman when it comes to insuring an ex-spouse, the tax advantages of life insurance proceeds, and how these policies can be instrumental in estate planning and wealth preservation.
As of the end of March, we will no longer be at our current location. We are getting close to securing our new permanent location, which will hopefully be done in the next few weeks. In the interim, we’re going to be operating at 101 Lindenwood Drive in Malvern, Pennsylvania. Everything else will stay the same in terms of contacting us
Here’s some of what we discuss in this episode:
- Scenarios where single clients do need life insurance and don’t need it.
- A strategic look at the role of life insurance in income protection where age and health are key players.
- The different ways life insurance could be utilized to provide income protection.
- Tax considerations when you’re looking at survivorship planning.
- Using life insurance to transfer wealth.
If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.
