Insurance is essential to both growing and protecting your money. Provide for your loved ones while still being able to invest in their future.
Our Insurance Solutions
The right insurance solution offers peace of mind, helping you take steps to avoid perils that could result in a financial downturn. That’s why prudent insurance strategies can play a key role in any comprehensive wealth management plan. Insurance solutions have very unique and specific benefits for both individuals and businesses. We are always ready to identify your options and help you select the right insurance solution for your particular situation.
How Insurance Benefits Individuals
They can offset costs incurred at death and preserve your estate by having your insurance proceeds pay them on your behalf. Taxes and other future costs can all be offset by your insurance policies and an estate plan that accounts for them.
Tax-exempt insurance policies such as universal or whole life insurance can eliminate any taxes you pay on your investment growth, as well as those payable when you pass on making them a great option to reduce your tax burden.
If you are in the early stages of wealth accumulation, insurance solutions can offer an extremely low-cost way to create a financial safety net in the event there is a loss of an income earner. This protection is key to maximizing your wealth if you pass.
Supplemental Retirement Income
Certain insurance solutions can provide a solid supplemental stream of retirement income. The income earned from this type of strategy could be significantly higher than with traditional fixed income vehicles while still maintaining a high degree of safety.
When the unexpected occurs, insurance proceeds can provide much needed funds to cover bills such as taxes, outstanding obligations and last-minute expenses. These proceeds are allowed to bypass the estate and will therefore be available much sooner.
Life insurance is a unique asset class that can add another layer of diversification to your entire asset allocation strategy. It’s an excellent way to complement the rest of your portfolio, thereby providing your overall strategy with one more layer of protection.
Disability insurance can provide funds to offset living expenses during times of sickness or accident. Ill-prepared this can mean a major loss of income for your family but with the proper disability coverage, you can eliminate that risk entirely.
How Insurance Benefits Business Owners
Funding Buyout Agreements
In the case of partnerships, the death or disability of one partner can have a devastating effect on the survival of a business. Insurance can be an excellent method of funding buyout agreements so that the remaining partner takes full control of the business and the surviving family is properly compensated.
Maximize Corporate Assets
By taking advantage of tax-deferred growth inside an insurance policy, corporate assets can avoid certain types of taxation and grow to a much larger value than if they were invested in a regular vehicle. In addition to that, most of the proceeds can be paid out of the corporation tax-free upon death.
Minimize Corporate Taxes
If corporate assets are invested in fixed income securities, then the proper insurance strategy can not only reduce its taxable income significantly but it will greatly reduce the value of the business by the amount of the investment, thereby reducing the inevitable capital gains tax liability in a major way.
The Result? The right Insurance Solution is essential for any Integrated Wealth Management Strategy that seeks to both grow and protect your money.