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Life Insurance
Life insurance covers many different types of needs for families and businesses. Insurance Plus has relationships with dozens of highly rated life insurance companies to ensure you have the most objective and appropriate recommendation for your specific circumstances.
For Families
There is no single product that is the best fit for every circumstance — our process focuses on your specific goals.
The most common need for life insurance is income replacement. Many families are highly leveraged and require all or most of their income to maintain their current standard of living. When a family depends on one or both spouses' incomes, it is critical to ensure life insurance coverage is in place to potentially replace the required income stream.
Government statistics suggest that 70% of those over age 65 will have a need for long-term care. With nursing homes and assisted living communities experiencing staffing shortages, having a plan has never been more important. A long-term care insurance policy can protect your investment portfolio and ease the burden on your loved ones.
For affluent families, the federal estate tax can create a major obstacle in transferring wealth. Life insurance owned inside of an Irrevocable Life Insurance Trust can provide liquidity for the estate to avoid selling assets at an unintended time or that are intended to be kept in the family.
Permanent life insurance policies are different from nearly any other type of insurance. Even with timely premium payments, policies can underperform due to over-exuberant hypothetical assumptions at inception. A proper review can potentially save you money or improve your policy.
For Businesses
Life insurance is a critical tool for business continuity and executive retention.
The most valuable assets of any company are not the buildings, land or equipment — it's the people. Nearly every privately held business has a select few people critical to ongoing success. It's imperative the company maintain protection on those individuals to hire, recruit, and train a replacement in their absence.
A Buy/Sell Agreement identifies a buyer for a business in the event of an owner's death. The agreement guarantees a market for the future sale, establishes fair market value, and when funded with life insurance, provides liquidity without borrowing funds or using working capital.
Qualified plan limitations can prevent employers from providing adequate retirement benefits for key employees. Alternative methods to reward productive and valued key executives provide flexible options beyond traditional compensation strategies.
