How Life Insurance Helps in Estate Planning

Help from Your Experienced Jackson, MS Broker

Planning an estate is one of the most important things you can do for your family’s future. Many believe that estate planning is only for the wealthy. In reality, almost everyone can benefit from establishing a strategy for how their belongings and money will be handled after their death.

Establishing your last wishes begins with making a will. Then you might create a trust, and sometimes you might look at life insurance as an afterthought. Sure, you could consider a policy to bury you or replace your income for your spouse, but life insurance can be a linchpin in your estate planning needs. To get the best coverage to support your needs, talk to an experienced broker at Executive Planning Group. We offer both group and individual policies in Jackson, MS and surrounding areas.

Life Insurance and Estate Planning Complement Each Other

Estate planning can take different shapes. Purchasing the right policy can reinforce your wishes and make sure your family is taken care of. Here are a few reasons to consider adding life coverage in your portfolio:

  1. Estate Liquidity: If you have real estate holdings that you want to pass down to the family upon your death, cash will be needed quickly to cover mortgage payments, taxes, or any outstanding loans. Having liquidity also prevents surviving family members from forced into a rush sale during such a vulnerable time.
  2. Estate Tax Reduction Strategies: By creating an irrevocable trust for your coverage, you can transfer the plan into the trust. This can help keep the funds from being included in your taxable estate. There are a few things to keep in mind:
    • The trust cannot be revoked.
    • Someone else has to be the trustee.
    • The trust must be in existence for at least three years before your death.
  3. Tax-Free Inheritance: Probably one of the most significant benefits is that generally, the claim is paid out in a tax-free, lump sum to your beneficiaries. This helps the recipient during a time of emotional distress while they make plans to bid farewell to their loved one and continue their legacy.

Work with an Experienced Jackson, MS Brokerage Firm

Protect your family and your estate with the help of a life insurance policy. The professionals at the Executive Planning Group (EPG) are here to help you decide on the best options for your needs. We take the time to sit down with you and listen to your estate planning needs. Then we work hard to find you the best rates and coverage for your budget. Discover the value of our services today.

Give us a call at 601-982-3000 or request a quote online for group or individual life insurance in Jackson, MS.

Disclaimer: Securities Offered Through Valmark Securities, Inc. Investment Advisory Services Offered Through Valmark Advisers, Inc.

Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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