Life Insurance
Align your Life Insurance with your Financial Objectives
Have you reviewed your Life Insurance Policies according to your current and planned financial situation?
Life Insurance is a tool that can be used for multiple purposes, if structured correctly.
The key, is to have only what is necessary and not overpay!
Term Life or Permanent Life
That is the question.
There is an ongoing debate between two main different types of life insurance. The debate is between term and permanent insurance. The question often asked is, "Which is better?".
The answer lies in a person’s situation and objectives. Unfortunately, there is not a cookie cutter answer.
The fact is, the success of your life insurance contracts will depend on one thing…what do you want it to do for you? People who buy term life insurance typically have something with a definitive time line they want to make sure is covered. Conversely, people who buy permanent life insurance typically want items covered with an indefinite time line.
IF YOU HAVE CLEAR EXPECTATIONS, LIFE INSURANCE is easy
We will help you flesh out the ideas and possibilities of the different types of Life Insurance and then find the most cost effective solutions. We will help determine the suitable amount and type depending upon your current and future financial objectives.
key questions to ask when considering life insurance
Strict time lines are, wanting to make sure a mortgage is covered throughout the life of the loan or wanting to make sure your children’s college is covered when the time comes
Many Life Insurance Policies have additional Riders for chronic illness if the need arises. This way if the policy owner is diagnosed with a life ending condition, they will be able to pull a percentage of the money for what suits them.
Some Life Insurance companies offer what is called Return of Premium or ROP. If you purchase an ROP policy and it expires, you will receive all of your premiums back. For example, if you paid $30,000 over a 30-year term policy, you would receive all $30,000 back at the end of the term.
Most of us think of estate taxes when it comes to being able to leave a legacy to our children, but many times it is the income taxes that reduce the actual money that beneficiaries receive. If estate preservation is an objective, a permanent policy is a consideration.
Some insurance policies can be structured in a way to provide future Income in the form of loans. These policies are purchased in a way to grow cash value, so in the future, you can use that Cash Value at your leisure. It is very important these are funded and established correctly or the end result could be different than what is expected.
The cost of Long-Term Care can devastate a families assets if not prepared for. Life Insurance can be used as a way to leverage your Capital if the need for Long-Term Care arises.
If you want to make sure that your Beneficiaries are established financially at any point, permanent life insurance can be a way to do this, regardless of your current financial situation.
Reviews
Investment advice offered through Strategic Financial Concepts, LLC., a registered investment advisor.
Copyright © 2025 Red Oak Financial Asset Management - All Rights Reserved.
This website uses cookies.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.