©2019 Olympic Golden Retirements LLC

This information is designed to provide general information on the subjects covered.  Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement.  Please note that Olympic Golden Retirements LLC and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney. Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer.  Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims-paying ability of the issuing company and are not offered by Olympic Golden Retirements.

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Life Insurance

 

For Protecting What You Love

As you grow older, start a family, or build a business, you realize how indispensable life insurance is to a sound financial plan.  Life insurance can give you the peace of mind knowing that there are funds available to protect your loved ones should anything happen to you.  Life insurance is helpful in a number of ways, including:

  • To pay final expenses

  • To cover child expenses

  • To pay off debts

  • To pay off estate taxes

  • To supplement loss of spousal income

  • If you're a business owner, funds can be used buy out shares in a
    business partnership

  • Can be used to cover long-term care expenses

 

There are two main types of life insurance - 

Whole Life Insurance

With whole life insurance, or senior life insurance,  premiums are generally higher than a term policy of the equal face value, but these plans are guaranteed for the duration of the owner’s life.  These plans can offer easy access to funds and tax-advantaged growth of wealth. Whole life insurance sponsors will also sometimes invest a portion of your premiums so that the annual cost won’t increase as you age.

Term Life Insurance

Term life insurance is a more stripped down model.  The premiums are always lower than whole life, but there are no guarantees beyond the duration of the term, which can range from 1 to 30 years.

 

Elements to consider when selecting a life insurance policy are present and probable future incomes; any special circumstances affecting you, your business, or your family; and your current budget for paying premiums.  Our life insurance specialists can help you navigate the process of selecting a life insurance policy fit for your needs.