PROTECTING Your Retirement Income
Life Insurance
Life insurance is a viable solution for protecting your retirement income plan against premature death. Lack of, or an unsufficient amount of, life insurance can severely reduce the longevity of, and potentially prematurely deplete, investment assets otherwise intended to be used for retirement.
Advantages of Life Insurance
Life insurance plays an integral role in the vast majority of retirement income plans. Some of the advantages life insurance provides are as follows:
- A death benefit that's free from income tax and is usually significantly greater than the amount paid in premiums
- Cash value with permanent life insurance policies that can be tapped during your lifetime if the need arises
- Immediate inheritance to heirs since life insurance proceeds aren't subject to probate
- No public record of policy payment or beneficiaries
- Policy value often protected from creditors
- Proceeds exempt from estate taxes with proper planning
Life Insurance Services
Life insurance is complex. At Retirement Income Center, we have the experience and expertise to prepare and implement a plan to help you:
- Determine your need for life insurance, including the amount required to realize your retirement income planning and other financial goals including, but not limited to: (a) providing income for surviving dependent family members, (b) paying federal and state death taxes and other estate settlement costs, (c) providing for children's education, (d) funding a business buy-sell agreement, and (e) making donations to charity.
- Determine the type of policy (e.g., term, universal, variable, etc.) that best suits your needs, and select a provider.
- Evaluate existing individual and group policies to determine how they fit into your retirement income plan.
- Design a plan for funding life insurance premium payments and potential policy loans or withdrawals that's coordinated with your retirement income plan.
- Determine the best form of policy ownership (e.g., individual, trust, etc.)
Life Insurance Carriers
Through his relationship with Crump Life Insurance Services as an independent licensed life insurance agent, Robert Klein (Ca. License #0708321) has access to a wealth of resources, including top-rated life insurance carriers. These include, but aren't limited to, the following:
| Allianz Life Insurance Co. | Lincoln Life |
| American General | Minnesota Life |
| American National | Mutual of Omaha |
| Aviva Life and Annuity Co. | Nationwide |
| AXA (Equitable) | New York Life |
| Genworth Life | North American |
| ING ReliaStar Life | Penn Mutual Life |
| John Hancock | Principal |
| Lincoln Benefit Life | Transamerica |
