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What Legacy Will You Leave?

Life insurance has many uses; one of our favorites is to convert a taxable asset, like an IRA or a capital gain into a TAX-FREE asset, without any out of pocket costs. We believe tax rate must  rise due to our overblown federal budget and that this strategy is especially useful for retirees in a higher tax bracket. (Please click here for more details on this strategy).

Here are some other reasons you should consider life insurance:

  • Help replace your income and provide financial security for your dependents.
  • Help pay final expenses.
  • Create an inheritance for your heirs.
  • Help pay federal, state, inheritance, and estate taxes.
  • Make significant charitable contributions.

Almost all insurance companies have now updated their life expectancy tables to reflect the fact that we are now living longer. If a person has life insurance and the policy is more than 2 years old, they should absolutely have their policy reviewed by a knowledgeable insurance professional. Assuming that the applicant still has their health, there is a very good chance they may be able to dramatically increase the amount of coverage they have at no additional cost, or simply lower their cost of their current coverage.You will likely have different life insurance needs at different stages of your life. And with people working longer, customized solutions are more critical than ever.

Life Insurance is an area of expertise for RNA Financial and we can custom-tailor a plan that meets all your goals and objectives. We look forward to assisting you in leaving a legacy that you can be proud of.