Life Insurance

Term Life

Coverage for a certain period of time.  Typically 10, 20 or 30 year terms, however, there are many options available from 1 year to 40 year term plans.

Universal Life

Can be guaranteed for life.  Receives a annual credit to build cash value.  Has a minimum guaranteed interest rate.  

Indexed Universal Life

 Provides the ability to grow cash value.  Credited based on Index performance without the risk of loss due to stock market fluctuations. 

Whole Life

Guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date.  Can receive dividends to accumulate cash value or purchase additional coverage.

Survivorship

Coverage is based on two lives and only pays out the death benefit at the second death.  This can be a great option for legacy planning.

Living Benefits

Critical, Chronic and Terminal Illness benefits.  All allow an insured to receive an early payout of the death benefit.  This reduction of the death benefit can be a portion to 100% depending on the policy and an option to pay for care prior to death. 


Tax Advantages

There can be many advantages to the use of life insurance as a planning tool in addition to the death benefit.  That being said, having a sound plan requires having sound advice.  Specific rules, guidelines and policy structure must be strictly adhered to in order to receive the maximum benefit.  This can result in tax advantages being lost and additional fees or costs imposed.  Each case is different and requires a customized plan to ensure the best strategy is set in place.  The following is a list of potential benefits and not tax advice.


  • Tax Free Death Benefit
  • Tax Free growth of cash value
  • Tax free distributions
  • Tax free transfer of wealth


Business Owners

Funding the Buy/Sell Agreement

Businesses held by multiple owners can face financial difficulties due to the death of one of the owners.  Life Insurance can provide the influx of cash to buy out the family of the deceased owner.

Key Man Coverage

The loss of a key employee will typically have a financial impact to a business.  Life Insurance can provide the necessary in flow of cash to sustain a business while a replacement can be found.

Employee Recruitment and Retention

Top employees can be hard to find and costly to replace.  Funding a cash value life insurance policy can be appealing in providing "golden handcuffs" in retaining the most valuable employees.

Retirement Funding

Funding the right type of cash value life insurance policy can provide a tax free retirement income protected from the risk of stock market losses

Cash Reserve

A business owner who owns a cash value life insurance policy can borrow against the accumulated cash value for a variety of purposes, including to help the business weather uncertain economic times, pay overhead expenses, or provide supplemental cash flow

Succession Planning

Many business owners would like to pass down the business to their family.  However, everyone may not be qualified or interested in taking over the responsibility of running a business.  Life Insurance can be a way to distribute assets equally and fair to all members.