Insurance & Risk Management

Say the words “life insurance” to some people, and you’re likely to get a less than enthusiastic response. But, more and more frequently, people are discovering that life insurance can be a helpful financial planning tool.

Life insurance offers a way for you to help provide for your family, protect your business, and make charitable gifts without reducing the value of your estate.

Life Insurance Can Help with Estate Planning

A life insurance policy on your life can provide your future heirs with funds to pay the expenses of settling your estate without dipping into its assets. It can also help replace the income that your family may lose as a result of your death. A life insurance policy is one way to ensure that money will be available to your future heirs for their immediate or long-term financial needs.

If you’re the owner of a small business, life insurance proceeds can help supply the funds to pay estate taxes and administration expenses, eliminating the possibility that the business will have to be sold to meet these obligations.

You can also use life insurance to fund a buy-sell agreement for the purchase of your business interests by other stockholders, partners, or your corporation.

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