Ask Alfie- Life Insurance


Alfie let’s talk about life insurance it
can be confusing you hear about whole life term insurance Universal there’s a
lot of the differences yeah you have you know insurance when I first got in the
business Craig 1983 you know that’s how I started my career was in the health
insurance and life insurance business but it’s changed a whole lot since then
so life insurance is really an asset class of its own right now so you can
use life insurance as just what it is a death benefit to replace income a
pension you know to pay a state taxes a lot of people that have large large
estates it’s a cheapest way to buy insurance to pay the taxes for for their
heirs cheapest way to do it but it’s not always used for just a death benefit a
lot of times it’s used the new you know really the newer policies are used to
use to get some tax-free money down the road so you can use it as an investment
Craig that you can put money in it each and every month or year however you want
to do it and then down the road take that money out tax-free there’s a way to
take it out tax-free which if you think about taxes and you know we go back to
when I went to West Point last year and the general said you know what what’s
five years in the future what does it look like for your clients and the thing
about it five years in the future I feel like taxes are going to go up I don’t
know if you do or not but I I think we’re at the lowest tax bracket that
we’ve been in many many years and it’s probably going to go up so you think
about what you want to do is you want to invest in things that can give you tax
shelter tax-free so if rates do go up it does not affect your style of living
your standard of living that you’re accustomed to so I would I would look
into things like that they have long-term care benefits in them now so
you know this is not something you put all your money in a course but this
could be one of the pieces of the puzzle that’s part of your your plan so the
whole idea of have to die to get paid from your life
insurance there’s much more to it than that much more to it than that these
days a lot of good information about insurance Alfie thank you very much if
you have questions on this topic give Alfie a call

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