August 13, 2026
The purchase of life insurance is an important decision for both you and your family. There are many reasons why life insurance policies are purchased, but these reasons should be based on your financial planning needs. Factors such as your marital status, number of dependents and cost for their support; future education needs; current and anticipated family income; and your current assets and debt obligations all play a role in determining the amount of life insurance that is right for you.
Am I Insurable?
Do I have enough life insurance to keep my family financially secure?
- If I die tomorrow?
- If I die in 10 years?
- Should my spouse carry the same amount as me?
What is the best type of life insurance to have at my age?
- Term, permanent, whole?
- What are the price variables for each?
- Should my spouse have a similar policy?
Should I focus on a policy that builds cash value or one that does not?
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Can I afford not to build cash value?
Can I cease life insurance coverage when I retire?
- Should I just lower the death benefit and, therefore, the cost?
- Are there gift tax consequences?
- Should my spouse own the policy?
Do we automatically make the children the beneficiaries of the policies?
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Should I consider putting the proceeds in a trust to protect them from taxes?
Should I consider an Irrevocable Life Insurance Trust (ILIT) for my estate plan?
- Will this shelter proceeds from estate taxes?
- Does my spouse need one as well?
- Is Second-To-Die the right choice?
How can I afford the proper amount of life insurance when most of my assets are illiquid?
- Is premium financing a viable alternative?
- Can I use my qualified retirement plan’s assets to buy life insurance?
- Is surrendering my policy my only option if I can no longer pay the premium?
What will happen to my company if I am no longer around?
- Who will run it?
- Will my family/employees be taken care of?
- Is my buy/sell agreement unfunded?
- Should I set up a sinking fund?
- What are the costs?
How can I guarantee to leave a legacy behind?
- Should I set up a foundation?
- Legacy Planning vs. Estate Planning
CRN202711-7532536