Life insurance can be a source of funds for your spouse, children, business partners or other beneficiaries during an extraordinary time of change. Some of the more common needs that life insurance can help with are:
Income Replacement: Are you the primary wage earner in your family? Final Expenses: Is your family prepared for the high expense of funeral services and final medical care? Debt Repayment: Do you have a mortgage, credit card debt or any outstanding financial obligations that your family may be burdened with? Child Care: Do you have children or dependents that would require care in your absence? College and Educational Expenses: Do your children or grandchildren have plans to attend college or seek additional career training? Charitable Contribution: Are you currently contributing to a charity, cause or organization? Have you considered leaving a final contribution? Business Continuation: Are you currently an owner of or a partner in a business? Have you considered leaving funds to help continue the business without you or giving your family the option of exiting the business comfortably? Wealth Transfer: Do you have plans in place to preserve your wealth and transfer your assets to subsequent generations? Estate Tax: Have you considered and planned for the federal tax burden your family may incur when your estate is transferred?
Income Replacement: Are you the primary wage earner in your family?
Final Expenses: Is your family prepared for the high expense of funeral services and final medical care?
Debt Repayment: Do you have a mortgage, credit card debt or any outstanding financial obligations that your family may be burdened with?
Child Care: Do you have children or dependents that would require care in your absence?
College and Educational Expenses: Do your children or grandchildren have plans to attend college or seek additional career training?
Charitable Contribution: Are you currently contributing to a charity, cause or organization? Have you considered leaving a final contribution?
Business Continuation: Are you currently an owner of or a partner in a business? Have you considered leaving funds to help continue the business without you or giving your family the option of exiting the business comfortably?
Wealth Transfer: Do you have plans in place to preserve your wealth and transfer your assets to subsequent generations?
Estate Tax: Have you considered and planned for the federal tax burden your family may incur when your estate is transferred?
NFP works with you to determine your Life Insurance needs, whether they may be Business Planning, Charitable Planning or Wealth Transfer related.