Fortunately, Cheryl has a rider, called a waiver of premium , attached to her life insurance policy. With this additional coverage, as long as she remains disabled, the insurance company will pick up the cost of the premiums with no repayment required. Despite her disability, Cheryl can at least rest assured her life insurance coverage won't be affected. As Your Assets Grow Ron Dillon is a successful sales manager in his early sixties. Since his wife passed away last year, Ron expects to leave his estate to his three grown children.
Life insurance offers a practical and affordable way to provide cash to help cover estate taxes.
When executed properly, the trust purchases a life insurance policy on Ron's life for an amount at least equal to the projected estate taxes. The policy premiums are paid with gifts that Ron makes to the trust. At Ron's death, the trust provides tax-free funds to help fund his estate tax liability. Regardless of your stage in life, life insurance offers a variety of ways to address your financial concerns. Insurance professionals can be of assistance in reviewing and recommending the many ways life insurance can provide the protection you need and the peace of mind you deserve.