Those of us in the life insurance business know that life insurance is so basic and foundational that we must never stop asking this one question. In fact, life insurance is so fundamental to our country’s economic health that the U.S. tax code encourages its purchase.
That’s a powerful endorsement of the value we bring families.
Every lawyer designing a client’s last will and testament, a family trust, a business owner’s transfer plan or a charitable giving strategy, and every CPA working on a client’s tax plan should be asking their clients the question, “Got Life?”
It is our job to make sure these advisors are asking this critical question and explain why this is such a fundamental question to begin with. We have the training and tools to do so. We’ve Got Life.
Life insurance is every family’s generator. It breathes life back into families when the future suddenly arrives. It restores financial security in the form of cash exactly when it is needed. We can’t control much that happens to us in life, but we can control the number of times we ask the question, “Got Life?”
There are many families who are happy that we did not stop asking this fundamental question.
Life insurance is the financial security we need no matter what stage of life we are in. It:
- pays a family income for a surviving spouse to keep the family hearth afire.
- provides the resources to fund an education or the care of a disabled child when the caregiver is no longer here.
- replaces for the benefit of family the gifts made to support a favorite charity.
- helps landowners preserve their land for future generations while helping the environment in the process.
- helps to fund retirement plans.
- keeps a business going when an owner or key person is no longer there to run it.
- works with different sections of the tax code to provide timely cash efficiently.
- is versatile in its applications.
Life insurance keeps dreams alive and changes the course of life by refueling families.
It can be designed to accommodate a family’s lifestyle and its changing dynamics over lifetime.
It is flexible, versatile and efficient.
It does not need to rely on market conditions to deliver its promises.
It delivers, regardless.
Yes. This is the question we must not stop asking, “Got Life?”
- “Got Life?” to pay the mortgage, family debts, or outstanding tax bills?
- “Got Life?” to keep the household income going even when you’re not around?
- “Got Life?” to pay transfer taxes or to divide up family wealth equally among children?
- “Got Life?” to exercise stock options or the gain that may accompany them?
- “Got Life?” to move the business over to the next generation without having to sell assets to do so?
- “Got Life?” to keep your family and your legacy going?
- “Got Life?” to maximize your social security income?
- “Got Life?” to minimize Medicare Part B premiums?
- “Got Life?” to pay for long-term care expenses?
There are no guarantees in life, unless you “Got Life”. That’s right. Life insurance contracts guarantee the death proceeds under certain conditions. Life insurance can be so efficient that policies may come with an appealing rate of return on the investment of your dollars– but most importantly on the investment in families.
In some cases, life insurance is a non-reportable asset for financial aid purposes. The policy may be protected from creditors in some states. The payment of life insurance proceeds is not a matter of public record. “Got Life?”
The death proceeds are tax-free and cash value policies may be tax-favored. In some cases you can get your premiums back and then some–guaranteed. “Got Life?”
Life insurance is the security blanket that does not get tattered. It keeps promises from being broken and carries on legacies quietly.
It is the foundation of financial security.
Have you asked the question of your lifetime –”Got Life?”– lately?