Life insurance can be a powerful estate planning tool for nontaxable estates
Life insurance can offer significant estate planning benefits even if estate tax isn’t a concern for your family. For example, you can use life insurance to replace wealth that’s lost to long term care (LTC) expenses for you or your spouse. Although LTC insurance is available, it can be expensive, especially if you’re already beyond retirement age. For many people, a better option is to use personal savings and investments to fund LTC needs and to purchase life insurance to replace the money that’s spent on such care. Contact us for additional details.