The future: full of great possibility, yet largely unknown. It’s easy to dream about, but difficult to plan for, especially financially. When you’re at the height of a great career with a thriving and healthy family, who needs to think about life insurance?
Somewhere along the way life insurance got a reputation for being reserved for those nearing retirement, old age, or simply planning for the unthinkable — and who wants to do that? Too often, life insurance doesn’t get portrayed for what it truly is: a thoughtful living asset that provides protection for the ones you love.
Let’s talk about a real life example. With a successful tech career, Carter, age 45, contacted us looking for a life insurance policy that would provide for his only son and wife in the unexpected event that something should happen to him.
With Carter’s objective in mind, we reviewed his financial picture identifying a savings account that was earning minimal interest. We set out to reallocate a portion of the saving account assets to fund a personally owned policy for Carter, structured to provide a greater rate of return and benefit his family during his income producing years, should something unexpected happen. This gave Carter peace of mind that, come what may, he had built a safety net for his family.
Let’s talk about benefits. You might think that Carter’s new life insurance policy will sit around until the unthinkable happens, but you’d be mistaken. During his lifetime, the policy is designed to provide tax-free growth on his investment, supplemental tax-free income at the time of retirement and death benefit protection. Put simply, life insurance is an incredibly powerful financial tool that’s flexible, tax-preferred, and quick and easy to obtain — especially for those already living a healthy life.
At The Lyman Group, what we talk about when we talk about life insurance isn’t just the possibility of death. It’s about truly living — always looking forward, leaving behind a meaningful legacy, and protecting all that makes life worthwhile. Download the TLG Life Insurance E-book to learn more about the benefits of life insurance and make informed decisions that will protect the future of the ones you love most.