- Tax Protection: Life Insurance proceeds paid to a beneficiary are not subject to Federal or State income tax or the PA state inheritance tax. Also cash values of life insurance grow without current income tax.
- Add’l Retirement Savings: Additional place to save without income limits or restrictions
- Help pay taxes on IRAs: help offset large income tax bills to beneficiaries with insurance proceeds
- Child with special needs: ensure money is available to take care of your special needs child
- Single Premium Life: Pay a one-time premium and have growing cash value and life coverage
- College Funding: provide funds for college for children and/or grandchildren
- Long Term Care Benefits: Many newer life policies will allow you to access your insurance amount to pay for assisted living, nursing home expenses, and/ or home health care as noted in other sections of our site.
- Buy-Sell Funding: Provide funds to buy out a partner or stockholder in a closely held business
- Key Person Coverage: protect your company against the loss of a key person
- Deferred Compensation: defer comp from high income tax years to retirement years
- Equalize Inheritance: provide funds to one beneficiary if another gets business assets
- Estate Planning: provide funds to pay Federal Estate Taxes without disrupting business assets