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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.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
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