Life Insurance in Financial Planning
Insurance policies provide financial security and play an essential role in your long-term wealth strategy. Life insurance can be used as a risk management tool as part of your comprehensive financial plan. Our financial advisors prioritize goals-based financial planning and are here to help you understand your options when it comes to insurance.
Insurance is a highly individualized choice with a variety of plans that cover different risks. If you’re considering life insurance, we recommend involving a financial advisor for guidance. Life insurance as a tool, such as term, whole, or universal, should be based on your specific needs and our financial advisors understand that your needs are ever-changing.
Is the insurance for you, your spouse or the next generation? Life insurance does not only have to be used for unforeseen events or death. It can also be used for philanthropic giving where a charitable organization is designated the beneficiary. We can help strategize the role it plays in your estate planning.
Our financial advisors can also provide guidance on more sophisticated options, such as irrevocable life insurance trusts or ILITs. An ILIT is a type of trust that is funded by one or more life insurance policies. We collaborate and partner with attorneys and consultants to ensure the proper plan is set in place.