Life Insurance 

 Whether you need insurance for its fundamental purpose or for more sophisticated asset allocation considerations, insurance is a financial instrument designed to assist the policy holder in accomplishing their goals.

The main purpose of life insurance is to provide the beneficiary capital after your death. The payment, or “death benefit,” is an important financial resource and it provides liquidity at the right time. Also, there is no federal income tax on life insurance proceeds. At the basic level, the death benefit can help pay the mortgage(s), household expenses, and education costs, and ensure that your dependents aren’t burdened with debt. There are also considerations beyond the basics. Life insurance is an option for more complex situations as well. It can be a great way to accomplish wealth transfer goals, if that means maximizing what goes to your family, maximizing after-tax wealth, or providing for specific charities.

There are many facets to consider when planning life insurance strategies: 

• What is the right amount? 
• What is the suitable solution? 
• What types of life insurance are available? 
• What type of insurance is best for you? 
• How do you know what to select? 
• Where should you begin?

If you are interested in life insurance and developing a sound strategy but are not sure where to begin, you first have to realize your options. There are choices in the industry that go beyond simply selling insurance products. Life insurance consulting offers a review of your financial needs to determine if, and how, insurance should be integrated into your wealth management plan. Insurance is never the only alternative. The review should consist of analyzing all relevant options. It is also important to follow a disciplined process to help make informed insurance decisions.

Essentially, life insurance is a foundation of financial security. It protects your financial resources against the uncertainties of life so you can plan for the future. Let Plante Moran Insurance Agency's consultants help you by providing expert advice toward developing your life insurance strategies.