Life Insurance is the core financial vehicle of any financial plan. It is one of the three protection products designed to protect the most valuable asset most clients possess - their income. It is also the most versatile of all financial instruments. It provides an immediate estate for a young person that will protect a growing family from the loss of a parent. It is a wonderful gift for a child to give them a head start with their financial planning.
It is impossible to replace a human being, but the income that is lost due to death can readily be replaced by adequate life insurance. There are high cash value policies that provide cash accumulation on a tax deferred bases. The death benefit also enables an insured person to spend the wealth they have accumulated in other investments and retirement plans, knowing that the life insurance will provide a continuation of income to a surviving spouse and an inheritance for children and grandchildren.
In a business situation, life insurance is often used to buy out the interest of a deceased business owner, to protect from the loss of key employees and to protect the company from the financial loss when a key person dies.
At Planned Futures we handle all types of Term and Permanent Life insurance using some of the highest rated insurance companies in the industry.