INDUSTRY INSIGHT
B
LONG-TERM CARE
SPONSORED CONTENT
DON’T OVERLOOK LIFE INSURANCE
IN YOUR ESTATE PLAN
efore getting started, it’s important for you to know – I
do NOT sell life insurance. But life insurance plays an
important role in a comprehensive estate plan and is
too often overlooked. To make sure you’re giving it due
consideration, here are some of the most important uses for life
insurance in estate planning, and some of the more common
types of coverage to meet those needs.
Uses of Life Insurance in Estate Planning:
Estate Creation. For many younger clients, their most
significant asset is their future earnings because they haven’t
had time to save and invest for their future. For these clients,
life insurance can be used to replace the loss of the deceased’s
income that a spouse or child relies on. The proceeds from the
policy create an estate where there was otherwise none, to be
used for the benefit of the deceased’s family.
Estate Liquidity. Clients often don’t consider the structure of
their estate. If your estate is comprised primarily of your home
and retirement accounts, your heirs won’t have immediate access
to funds to pay your final expenses, inheritance taxes, and living
expenses in the case of clients with families. There will also be
additional tax implications if your heirs have to take wi