Life insurance is a complex financial product with many variations and uses. Designing a policy that meets your needs requires a strong knowledge across a broad range of life insurance options, advanced market concepts, carrier specific products and underwriting criteria. All these elements must come together to create an efficient and coordinated positive outcome for your intermediate and long-range planning. In most circumstances, the death benefit is received tax free to the beneficiaries.
A basic overview of how life insurance is a critical part of your financial planning:
• Provide for your loved ones – the loss of a loved one can be devastating in many ways.
• Protect your assets – avoid the unplanned, unexpected liquidation of assets providing immediate liquidity at death will help your family or business.
• Provide for unfunded family expenses – underfunded, outstanding debt or expenses can be additionally devastating to a family. A basic need for life insurance is to cover the mortgage loan, other loans (home, vehicle, credit) and college funding.
• Cover your fixed expenses such as loan debts and estate taxes.
• Provide a retirement supplement – a policy can be designed to take advantage of the tax-free growth of cash value. When properly designed and managed the policy can provide tax free supplemental retirement income of cash for other uses.
• Provide a long-term care benefit – many policies now provide a benefit that may be used for long-term care needs.
• Create a legacy your family or business will be proud of.
• CCFS only supports and recommends top quality and benefit competitive carriers with simplified underwriting and no exams in cases under $5 million.
Contact CCFS for Life Insurance