Some homeowners are interested in understanding how life insurance may fit within a broader conversation about family protection and mortgage obligations. If a life insurance policy remains in force and the death benefit exceeds the outstanding mortgage balance, beneficiaries may have funds available that could be used to help satisfy the mortgage or other family obligations.

Certain permanent life insurance policies may also accumulate cash value. A policyowner may choose to access available cash value through a policy loan or withdrawal. Loans and withdrawals reduce policy cash value and death benefit, accrue interest, may increase lapse risk, and may result in tax consequences.

Whether this concept is appropriate depends on individual protection needs, underwriting, affordability, policy design, policy performance, loan activity, and tax considerations. Results are not guaranteed.

The death, disability, retirement, or departure of a business owner can affect business operations, ownership, employees, and family members. Business succession planning may involve legal, tax, valuation, and insurance considerations.

Life insurance may be one tool used to help provide funding following an owner’s death or another triggering event, depending on the structure of the business and the agreements in place.

Business owners should work with their attorney, CPA, tax advisor, and valuation professionals to design and document a succession plan. We can provide general information about insurance products that may support a properly documented plan.

A buy-sell agreement is a legal agreement that helps define what happens to an ownership interest in a business upon certain events, such as death, disability, retirement, or other triggering events described in the agreement.

Life insurance may be used as a funding source for certain buy-sell arrangements. The type and amount of coverage should be based on the business structure, ownership interests, valuation, and terms of the agreement.

Legal and tax advisors should be consulted to draft and review the agreement and determine the appropriate structure. We can provide general information about insurance products that may help fund a properly documented arrangement.

Some businesses depend heavily on one or more owners or employees whose knowledge, relationships, leadership, or production is important to the company’s operations.

Key person insurance is designed to help a business manage the financial impact of losing an individual who is important to the company. Benefits may help with recruiting and training a replacement, meeting debt obligations, addressing lost revenue, or supporting business continuity, depending on the circumstances.

Coverage amounts, ownership, tax treatment, and business use should be reviewed with appropriate legal and tax advisors.

For many people, it is difficult to think about a time when routine daily activities may require substantial assistance due to injury, illness, or aging. Long-term care services can be expensive, and costs may continue to rise over time.

Long-term care insurance may help individuals prepare for potential care needs while maintaining more control over the type of care and setting they may prefer. Product availability, benefits, exclusions, limitations, and underwriting requirements vary.

Voluntary benefits may be considered by employers seeking to provide additional insurance options to eligible employees. These benefits may include life insurance products and, where available, riders that provide access to benefits for qualifying long-term care needs. Product features, rider availability, underwriting, costs, and benefits vary.

Employees can structure participation based on their goals and available resources. Employer contribution amounts, if any, vary by employer and program design.

We can provide general information about available insurance products and explain how these concepts may fit within an organization’s objectives. Employers should consult their legal and tax advisors regarding program design, eligibility, and tax treatment.

Estate planning may involve legal, tax, property, beneficiary, and insurance considerations. Life insurance may be one component of a broader estate planning discussion, depending on the individual’s needs and objectives.

We can provide general education about insurance products that may be considered in connection with estate planning. We do not draft legal documents or provide legal or tax advice.

Estate planning services are provided in conjunction with your Estate Planning Attorney, Tax Attorney, and/or CPA. Consult them for specific advice on legal and tax matters.

A disability can interrupt income and create financial pressure for individuals and families. Group disability coverage provided through an employer may not replace all income and may have benefit limits, exclusions, or tax considerations.

An individual disability income insurance policy can help supplement group coverage and may help protect a portion of income if sickness or injury prevents an individual from working. Benefits from an individually owned disability income policy may be generally tax-free when the insured pays the premiums with after-tax dollars. Tax treatment depends on individual circumstances.

Many individual disability income insurance policies offer non-cancelable and guaranteed renewable features. Specific features, premiums, exclusions, limitations, and definitions of disability vary by policy and carrier.Item description