Who Do You Love More?
The IRS, or Your Family?


This is a great question to ask customers. Obviously rhetorical, it’s designed to get individuals thinking about financial planning objectives. As their advisor, you already know they love their families more and therefore need a strategy to transfer as much tax free wealth to their survivors as possible.

Using life insurance to maximize taxable assets that they’re not planning to use for income can help them do just that.

Why life insurance? Any named beneficiary of a life policy — spouse, children, and other loved ones — receives death benefit proceeds generally tax free. You can also protect future income with a long-term care rider or asset based long-term care plan.

Annuities, CD’s, mutual funds, and IRA’s are subject to income taxes and estate taxes after the policy owner dies. Life insurance that appears to be properly structured is generally not. Help your clients plan to live the life they want with these options:

  1. Use an asset to purchase a paid-up guaranteed universal life policy. Leverage lump sum dollars into the largest guaranteed death benefit for their heirs. Login to get immediate quotes with AssureXpressTM, our one-click tool for rates across carriers and application materials.
  2. Use an annuity or qualified plan asset to 1035 exchange or direct transfer funds to an asset-based long-term care policy. Premiums can be paid upfront or over a 10 to 20 year period. Your client gets to protect their heirs’ inheritance, if they require long term care. The named beneficiaries also receive death benefit proceeds generally tax free and free of probate. Request a meeting with our long term care specialist to learn more.

Remember, if you’re not asking this question, someone else is. Keep your client’s assets in your financial institution. Be sure to remind clients to consult with their tax advisor.

By helping people plan to live they life they want, you’re also building your own future. Ask us about specific life policies, some with long-term care features. We can share commission options and provide product training. Call 844.CFG.PLAN (844.234.7526) and build with us.

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