Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

May/June 2018

Doubling Up Coverage

Doubling Up Coverage

Two is better than one, at least for some consumers who need life insurance. Survivorship life insurance is joint life insurance protection on the lives of two people.

How it Works

Survivorship life insurance pays its death benefit after the second person on the policy dies. This type of life insurance is generally less expensive than buying two individual life insurance policies for the same face amount, especially when one spouse is a high underwriting risk.
When it Works

A versatile product, survivorship life insurance can help meet a number of personal income protection challenges. When a cash benefit is needed only after the second person on the policy passes on, survivorship life insurance can:
  • Provide a financial legacy to children and other loved ones;

  • Leave money to a favorite charitable organization;

  • Fund an irrevocable trust, from which beneficiaries receive distributions free of federal estate taxes; and

  • Pay for inheritance taxes outright from the cash benefit.

Business Benefits

Family businesses and other closely held companies may also benefit from the utility of survivorship life insurance. In a business setting, this life insurance can provide the cash needed to pay estate taxes while successors take over the business.


When used for business purposes, you might work with a licensed financial professional and an attorney to pair survivorship life insurance with a succession plan and a buy-sell agreement. Family business owners may also consider life insurance as a way to equalize an estate for children or grandchildren who won’t participate in the business.

Term or Perm

Once you establish the need for insurance, you’ll typically get to choose either a term or permanent life insurance policy. Term insurance premiums will rise over time and simply offer the death benefit. Permanent insurance premiums will typically remain the same, as long as you make payments on time, and this type of policy can accumulate cash value.


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox.

Please include name of person that directed you to my online newsletter so I can thank them personally.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.