Insured Family Legacy

Your clients have worked a lifetime to create financial security for themselves and their family. Your clients are comfortable and have assets that they may not need to fund their retirement.

 

Their goal now is to pass their wealth on to others. A spouse is typically the first recipient. After that, children, grandchildren, and charities are usually next. Your clients want to control who will benefit from their financial success and establish the best way to transfer their wealth.

 

With proper planning it is possible for older generations to utilize assets that are not needed for everyday living expenses and make more efficient use of them for the benefit of future generations, while still maintaining control over these assets.

 

Life Insurance is a powerful tool you may utilize when planning a legacy for multiple generations. Permanent life insurance provides both death benefit and possibilities through cash value accumulation. If properly structured, it can positively meet the planning goals of multiple generations.

Key benefits include:

 

1. Income tax-free death benefit 


 

2. Tax-deferred growth of cash value 


 

3. Potential tax-free access to cash value that can be used to meet a variety of needs 


 

4. Protection from creditors (varies by state) 


 

 

How it Works 

Step One

 

Generation 1 purchases a Life Insurance Policy on the life of Generation 2.

(Generation 1 is the owner and beneficiary of the policy.)

Step Two

 

Upon the death of Generation 1, the policy is now owned by the insured

(Generation 2)

Step Three

 

Upon the death of Generation 2, the policy proceeds can provide a legacy for Generation 3.

Demographics: Parents/grandparents who want to provide a legacy for their children/grandchildren.

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