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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
May/June 2018
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: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.
GE 131926 (12/17)(Exp 12/19)
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Securities offered through Equitable Advisors, LLC (NY,NY (212) 314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN). Investment advisory products and services offered through Equitable Advisors, LLC, an SEC-registered investment advisor. Annuity and insurance products offered through Equitable Network, LLC, which conducts business in California as Equitable Network Insurance Agency of California, LLC; in Utah as Equitable Network Insurance Agency of Utah, LLC; and in PR as Equitable Network of Puerto Rico, Inc. Equitable Advisors and Equitable Network are affiliated companies and do not provide tax or legal advice.
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GE-4833845.1 (7/22)(Exp. 7/24)
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