Benefits of an Irrevocable Life Insurance Trust
Choosing a beneficiary for your life insurance policy seems like a fairly straightforward task; most policyholders choose their spouse or children. But in certain cases, your family really isn’t the best choice. Sometimes, an irrevocable life insurance trust (ILIT) is the safest way to protect your family. In this article,Continue Reading
What Is the Child Protection Rider?
The child protection rider (CPR) is additional insurance added to your original whole life insurance policy that provides coverage for your child in case of death. But that’s not all it’s good for. In this article, we’ll explain the benefits of a child protection rider, costs and underwriting requirements, andContinue Reading
Understanding the Modified Endowment Contract (MEC)
A Modified Endowment Contract, also known as a MEC, could be a great way to pass on assets to your heirs. Or, it could be the worst thing to happen to your whole life insurance policy. In this article, we’ll break down the pros and cons of a Modified EndowmentContinue Reading
COVID-19 and Life Insurance
The effects of COVID-19 on life insurance companies and their policyholders is the number one question our Wealth Strategists have been addressing over the past several months. Our most common questions about COVID-19 affecting life insurance include: How does COVID-19 affect my whole life insurance policy? Do mutual life insuranceContinue Reading
Converting Military Life Insurance to Whole Life
Military life insurance is one of many benefits offered to active duty service members and veterans, but it’s not the only insurance option available. In fact, permanent life insurance policies like properly structured whole life insurance can offer more coverage and benefits than Servicemembers’ Group Life Insurance (SGLI), Family Servicemembers’Continue Reading
What Is The Guaranteed Insurability Rider?
If you knew that you were guaranteed to be eligible for life insurance, would you buy coverage? If you currently have life insurance, do you wish you had more coverage? One of the biggest reasons people don’t have adequate insurance is because their health prevents them from qualifying for lifeContinue Reading
Top 5 Common Financial Fears and How to Face Them
As adults, there isn’t a whole lot that keeps us up worrying at night, but financial fears can creep in at any time. If you’re worried about money, you’re not alone; finances are one of the most common stressors in adults of all ages. Are you ready to get overContinue Reading
How to Create a Private Family Banking System
Having a private family banking system is easier than you think. In this article, we’ll explain what family banking is, show you which financial tool to use for optimal growth and protection of your family’s wealth, and outline the benefits of having your own family banking system. Plus, we’ll explainContinue Reading
Should I Use a Policy Loan or Pay Cash?
Were you raised to believe that debt and policy loans are bad? In America, we’re often taught that a high credit score and zero debt are the ultimate financial goals. Ask anyone who has amassed a significant amount of wealth, however, and you’ll see that cash isn’t always king andContinue Reading
What Are Life Insurance Policy Riders?
“Life insurance policy riders? You mean there’s even more to consider?” You’ve done your homework. You’ve compared different types of life insurance. You’ve decided on the coverage you need at the price you can afford. But there’s another level of customization for your policy that provides you and your familyContinue Reading