Life Insurance
If something unexpected happened tomorrow, would your family be financially secure without your income? Are you taking full advantage of how life insurance can be used to protect, grow, and transfer your business wealth?
Only 52% of the adult population owns life insurance in the United States
52%
42% of those who own insurance have sufficient coverage
42%
44% of U.S. households would feel financial hardship within six months
44%
Term Insurance
A Term Life Insurance policy is the simplest form of life insurance: You pay a premium for a period of time — typically between 10 and 30 years — and if you pass away during that time, a death benefit is paid to your beneficiary or beneficiaries. Term life is typically much more cost-effective than whole life insurance, allowing you to purchase a significant amount of coverage at relatively low rates.
Whole Life Insurance
A Whole Life Insurance policy offers three key benefits: lifelong coverage with a death benefit guaranteed to be paid to your beneficiaries; a cash value component to help you build tax-deferred wealth; and level premiums guaranteed. Whole life insurance coverage is permanent, and the death benefit is guaranteed to be paid out as long as the premiums are paid, and the policy is active.
Business Life Policies
Business owners have several life insurance options that can be integrated into their business planning and employee benefits, including Buy-Sell Agreements to protect ownership interests, Key Person Insurance to safeguard the business in the event of a key employee’s death, and Group Life Insurance to provide affordable coverage for employees. These strategies help ensure business continuity, financial stability, and competitive benefits that attract and retain top talent.
How to determine how much coverage you need?
Human Life Value formula: This formula aims to calculate your future income potential and use that as the amount of coverage you need. The formula takes many factors into account, but a shortcut is to use the guidelines in the chart that follows. For example, if you’re between 18-40, multiply your income by 30
Maximum Life Insurance
30 times income
20 times income
15 times income
10 times income
1 times net worth
1/2 times net worth
Age
18-40
41-50
51-60
61-65
66-70
71-75
Find your Human Life Value
