How to get the most value for all your family values.
Make a difference now and for generations to come.
It’s important to reassess your financial situation regularly, and in particular, upon retirement. If you have children, they’re now older, and you can focus your attention on taking care of a surviving spouse, and preserving a legacy for the next generation.
Single premium permanent life is a type of life insurance in which a lump sum is paid, in return for your named beneficiaries receiving a benefit that is:
- Federal income-tax free
- Guaranteed, regardless of what happens in the markets**
- Without the time delay and expense of probate
This form of insurance is one of the most efficient means to transfer wealth to your dependents (or a charity), and the cash value begins building immediately because the policy is fully funded. And if you ever need access to funds for emergencies, retirement, or other opportunities, you have the ability to tap into the policy’s cash value with a loan.***
Our Instant Legacy policy, for example, offers:
- Leverage for a larger legacy. Transform money that’s sitting in an FDIC-insured savings account or CD into a more generous inheritance for your beneficiaries.
- Safe, continued access to your money and a money-back guarantee.**** Should your circumstances or financial needs change, you’ll have immediate access to the policy’s cash surrender value.
- Fast and easy approval. Get pre-approved in minutes with a one-page medical questionnaire—no medical exams or blood tests required.
To get even more out of your lifetime of hard work, a joint guaranteed lifetime income annuity is a simple financial tool that can help you leave a lifelong inheritance to beloved children, grandchildren—and even your great-grandchildren, possibly more than a century into the future. With both level-payout and inflation-adjusted options, it’s a beautiful way to be remembered and appreciated for generations to come.
Finally, you might consider a planned giving strategy to provide for the charity of your choice as well as the people you love—and at the same time protect valuable assets from income and estate taxes. This may also provide you with guaranteed income for life, or the ability to continue giving to your chosen charity after you’ve passed away. Some options include:
- Charitable remainder trust. By gifting an asset (such as cash, real estate or closely held stock) to charity, you can receive income from the sale of that gift for a set amount of time—generally not to exceed 20 years. The remainder of the trust is transferred to the charity once you, the donor, have passed away.
- Charitable lead trust. The opposite of a charitable remainder trust, this provides income to the charity for a set term. When the term expires, the property passes to your named beneficiary.
- Life insurance. Donating life insurance is always welcome by charitable organizations. There are several ways to do so, each with unique tax benefits:
- Designating a charity as owner and beneficiary.
- Designating a charity as beneficiary.
- Donating an existing policy.
Want to learn more about single premium life insurance? Read on.
Want to learn more about guaranteed lifetime income annuities? Read on.
Learn why life insurance is a great gift for your kids or grandkids.
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