The Need For Lifelong Coverage

Permanent life insurance, which includes Term to 100, whole life and universal life insurance, provides coverage that lasts for life. At its most basic, permanent insurance covers the funeral and other final expenses. Larger policies, however, can meet a variety of estate planning needs.

Creating an estate.
Beneficiaries receive tax-free insurance proceeds outside of the estate, avoiding any delays in estate administration.

Equalizing an estate.
If one sibling will receive the family business, vacation property or other asset, you can name the other sibling as beneficiary of a life insurance policy.

Offsetting tax.
Insurance proceeds can be used to offset tax payable by the estate on income and capital gains.

Caring for a child.
Life insurance proceeds can fund a trust for the care of an adult child with a disability or special needs.

Planned giving. As a charitable gift, life insurance offers the potential to leave a larger gift than otherwise possible and flexibility in how you or the estate uses the tax deduction.

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