Term life is a versatile piece of the estate planning puzzle. It can provide the peace of mind you need to make sure your family’s needs are met.
For the average family estate planning something readily discussed, but should be a necessary part of family planning. When the family grows or changes, the dynamics of what will happen to the family’s assets changes, and regular reviews need to be done. Business owners take inventory and make plans for what will happen on an annual basis, why wouldn’t you do that for your family?
Most people think it’s costly or it takes too much time, or even that talking about death is upsetting, but putting off the discussion doesn’t put off the inevitable. If discussing an entire estate plan is too difficult all at once, bite off one piece at a time, and start with a Term Life Insurance Policy. Term life is a versatile piece of the estate planning puzzle. It can provide the peace of mind you need to make sure not only that your family’s needs are met, but that your assets are preserved as well.
Contact your AC Financial Adviser to talk about all of the benefits of using your Term Life Insurance Policy in estate planning, but a few of the benefits are:
- Having the funds to pay end of life bills and estate expenses so your family doesn’t have to dip into other assets.
- Funds can be used for charitable gifts or to help surviving children pay for education expenses.
- Cash can also be used to fund transfer of ownership for a farm property or small business.
Term life policies don’t accumulate cash value, but some offer a built-in conversion privilege, which allows you to to turn some or all of your coverage into permanent life insurance. With this type of policy you do accumulate cash value and earn dividends. In much the same way permanent life insurance is an asset to your estate plan, but it guarantees permanent coverage, even if you become uninsurable later in life.
Call your AC Financial Adviser at (877) 435-2283 to talk about starting your estate plan with Term Life Insurance.
