INSURANCE

We create estate plans that protect the assets you value.

• Income protection at the death of a spouse.
• Additional benefit for the your current policy premium
• Tax-free wealth transfer to heirs.
• Protection against estate depletion from catastrophic illness.
• Long Term Care coverage— with and without long term care insurance.

Click here to request a complimentary insurance analysis.

Refinance Your Life Insurance: Reduce Premiums & Increase Benefits

As independent advisors, we encourage you to periodically examine your life insurance coverage for refinancing in the same way you would your home mortgage when interest rates change.

Byron Udell, founder and CEO of AccuQuote.com, says the cost of life insurance dropped 60 percent from 1994 to 2004. This decrease is due to changes in national interest and mortality rates. As people live longer, the cost of insurance decreases for companies. With lower internal costs, companies can give higher benefits to investors.

Refinancing your policy can provide dramatic savings in your premium, or significantly increase your death benefit— sometimes by double.

To find out if your policy can be refinanced at lower rates, click_here for a fast quote.

 

Articles Of Interest:

"Get Better Rates and Coverage by Refinancing Your Life Insurance,"Bankrate.com, March 16, 2005, Jenny McCune

"Refinance Your Life Insurance," MSN.com, Liz Pulliam Weston

 

Gain Long Term Care Coverage With Your Life Insurance Policy

Over the last ten years, life insurance companies have created innovative products designed to meet the needs of a growing senior population. One of the primary financial obstacles seniors face is the cost of nursing home care.

Some seniors own nursing home or long term care insurance, however, many feel it is cost prohibitive. Subsequently, most do not have a plan in place to avoid estate depletion from catastrophic illness. According to Forbes Magazine, nursing home charges average $70,080 a year, with costs in Colorado ranging from $165-$172 per day.

At that rate, it's easy to see how a loved one's care can diminish a lifetime's worth of savings in a few short years without the proper precautions.

For seniors who don't have a long term care policy, a life insurance plan whose death benefit can be used to pay for nursing home care can be a lifesaver.

For example, a client of ours in somewhat poor health was underwritten at 82 years old for a policy that provides a $150,000 death benefit. His life insurance policy will pay for over two years of nursing home care as soon as he enters a care facility. Should he never use this nursing home coverage, his heirs will receive the tax-free life insurance benefit instead.

Many investors enjoy knowing that instead of spending money on LTC premiums for benefits they may never use, they can invest in a policy that provides a win-win scenario: nursing home coverage or death benefits for loved ones.

To obtain a list of companies that provide these policies, email IPS.

 

Use Life Insurance To Pay Estate Tax

Many wealthy families find estate taxes can consume a large portion of their inheritance at death. While the federal government may eliminate mandatory estate taxes in the next few years, individual states may implement a death tax to recoup losses from mounting budget deficits, as well as assess capital gains tax on assets at death.

Wealthy investors often use Irrevocable Life Insurance Trusts (ILIT) to create a tax-free cash benefit for their heirs to use for estate tax. Life insurance held outside the estate in an Irrevocable Trust can leverage money and allow heirs to inherit a larger portion of your estate— tax bill paid.

To receive an analysis of your estate tax liability and assess life insurance leverage for your heirs, email IPS.