Life Insurance Planning
Life insurance can alleviate a variety of risks/concerns relating to an individual or family’s financial situation and at Financial Balance Group, LLC we believe that an understanding of your current cash flows and overall financial position is necessary in providing recommendations relating to life insurance. Only after evaluating the rest of your finances, can you be sure that your needs and loved ones are fully protected.
The Benefits of Life Insurance
If an unexpected or premature death would cause financial suffering to someone you care for, then you likely have a need for some level of life insurance. Life insurance can also be beneficial when estate liquidity is necessary immediately following a person’s death.
There is no financial product that provides equal value and relief following a death, as life insurance can. Working with a financial professional can help ensure that you make an informed decision about life insurance for you and your family.
- Provides cash flow and flexibility to a decedent’s surviving loved ones
- Provides estate liquidity as may be needed for transfer or succession planning
- Death benefit is generally income tax free
- Tax deferred asset accumulation through cash value life insurance
Types of Life Insurance
There are two primary types of life insurance: Term and Permanent. Depending on your current financial position and the goals you have for yourself and your family, there will likely be an advantage to owning one type of coverage versus another.
- Term Life Insurance
- Permanent Life Insurance