Term Insurance will appear to be lowest in initial cost, but one should keep in mind, Term Insurance is known to be “mathematically and actuarially designed to NOT be in force at the death of the insured party.” Harvard Mortality Tables: Male life expectancy is age 85.
Universal Life Insurance
Permanent life insurance protection. A portion of the premium is used to pay the death benefit insurance costs, the balance of the premium is applied to a capital account and free for compound interest income via carrier investments. The investment account income can be used for future premium payments or cash surrender value.
Joint and last Survivor Universal Life Policy
Primarily use in estate planning situations. The Death Benefit is paid at the time of the last survivor’s death.
As stated above, a portion of the premium s used to pay the death benefit insurance costs, the balance of the premium is applied to a capital account and free for compound interest income via carrier investments. The investment account income can be used for the future premium payments or cash surrender value.
Business Continuation Planning
Your talents together have built a successful business.
But… What happens when death suddenly breaks up this important team?
Southwest Insurance Brokers will assist in:
Setting Up the Plan Options… i.e.
Stock Redemption Purchase Plan
Buy-Sell-Agreements-Compared-Stock Redemption
Cross-purchase Plan
Executive Bonus Program
Tax Treatment Comparison
For additional information about how we can assist you with your benefits, please contact Jeff Lewis at 602-263-0777 or Request a Quote.
