There are many types of life insurance, but for each of them the bottom line is the same. Life insurance pays cash to those people and institutions important to you—whether dependents, charities, or educational institutions—after you die. Life insurance can replace an income stream and allow your financial plans to continue to work toward life’s important goals. Life insurance proceeds can cover daily living expenses, mortgage payments, outstanding loans, college tuition, and other essential wealth management needs. One valuable feature of a life insurance policy is that the death benefit proceeds are not subject to federal income taxes. In addition, through the use of an irrevocable life insurance trust, the proceeds can be removed from the decedent’s estate and avoid potential exposure to estate taxes.

In order to have lasting value, insurance solutions need to be appropriate for your unique needs today and as they change over time. Since many people tend to underestimate their own needs, close examination may determine that your present coverage is not sufficient. Another factor to consider is that existing insurance solutions implemented years ago may no longer be adequate to protect your current life situation. In recent years, major life insurance companies lowered the costs of insurance coverage by utilizing more competitive mortality tables. Also, there is now a wider array of additional benefit riders that have made insurance solutions more competitive and consumer-friendly.

How can you discover whether gaps or shortfalls exist in your insurance coverage, and what steps can you take to safeguard your future? An insurance audit is a great way to start. The first step is to request an in-force illustration on your current policies (ask your insurance advisor how to do this or call us) and deliver those along with your policies to us for review.

Through the insurance audit process, we can assess your current insurance coverage, determine your present and anticipated insurance needs, update coverage, and fill in any gaps that may exist.

Whether you are just beginning to map out your financial future, or if you already have a solid wealth management plan (investments, savings, business, education, and retirement planning), you need insurance as a risk-management solution. Insurance helps protect you from the need to make unwanted changes or compromise future plans or goals if the unexpected occurs (whether death, disability, or need for long term care). Certain types of life insurance offer the additional benefit of a built-in savings feature that can help you reach your wealth accumulation goals. If you could benefit from the potential for market appreciation, you might ask about variable life insurance policies that utilize sub-accounts as the investment platform.*

Insurance audits place your total insurance plan into a wealth management perspective. We can help you determine the appropriate strategies to protect your wealth and your dependents—today and in the future.

Call us to get started protecting what’s important to you or click here and send us your email address, we will contact you.. Call 858.752.1726.

* Variable life insurance is designed to provide a death benefit for family members or others to help meet other long-term financial objectives. It is not suitable as a short-term savings vehicle. Guarantees are based on the claims-paying ability of the underlying insurance company. A 10 percent tax penalty may apply for withdrawals prior to age 59 ½. Partial withdrawals, loans, or policy surrenders may reduce benefits or incur charges. Investors may receive less than the original invested amount. For more information on variable life insurance, including charges, risks, investment objectives, and expenses, please obtain a prospectus from your financial advisor. The prospectus contains this and other information about the variable life insurance contract and the underlying sub-accounts. Please read the prospectus carefully before you invest or send money.

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