Life Insurance Planning

Did you know, payments from your Charitable Remainder Trust (CRT) can pay for long-term care services and upon your death any remaining balance can be distributed to a charity?

Q: What is a life insurance settlement option?
A: A life insurance settlement option is a process that allows the policyholder to receive a lump sum of money from the insurance company in exchange for giving up the policy’s death benefit.

Final expense insurance, also referred to as burial or funeral insurance is typically a form of  whole life insurance policy that has been packaged, by the insurance company, in small amounts of death benefit.  

Indexed life insurance is a type of life insurance policy that offers the potential for cash value growth, based on the performance of a stock market index such as the S&P 500.

There are 2 main types of whole life insurance companies: Mutual and Stock.
Stock insurance companies - is a  corporation owned by its stockholders or shareholders, and its objective is to make a profit for them. Policyholders do not directly share in the profits or losses of the company.

Mutual insurance companies - is a mutual insurance company is an insurance company that is owned by policyholders.

You are entitled to a charitable deduction for a portion of the value of the gift. If a gift of cash, the deduction may be claimed up to 60% of your adjusted gross income. Deductions for gifts of appreciated assets may be claimed up to 30% of your adjusted gross income. Unused deductions may be carried forward for up to five additional years.

Universal life insurance also has the ability to adjust the death benefit amount and premium payments to meet your changing needs.

Mortgage life insurance is a type of life insurance policy that will pay off your mortgage in the event of your death. It works by providing a lump sum payment to your mortgage lender so that your mortgage can be paid off in full.

* 5 Year Renewal Term Insurance
* 10 Year Renewal Term Insurance
* 15 Year Renewal Term Insurance
* 20 Year Renewal Term Insurance
* 30 Year Renewal Term Insurance