Wealth Builders Group / MoneyMasters and myEcon Members
What you should know about Life Insurance and Trusts
Dear Wealth Builders Group and MyEcon Members,
Life Insurance to protect your family, business and philanthropic goals is something you need to have but hope never to use until YOU are ready to go to a better place.
Unfortunately, none of us are able to pick and choose when our time will come. Most individuals view the need for Life Insurance as a "necessary evil" and not for what it is intended for; financial protection for those you love. However, with the development of new insurance and annuity products coupled with innovative estate planning techniques, it is now possible to utilize these products, in later years, to assist you in your retirement needs.
The cost of these products, for most people, is viewed as expensive; it all depends on where you purchase it. The companies that do all the advertising, have a captive agency system and physical offices across the county are the most expensive. These companies also pay the insurance agent the most commissions!
There are a few financially sound insurance companies rated highly by "AM Best" (this is the leading insurance rating company that reviews all insurance companies financial ability to pay claims.) that are priced must more competitively and provide outstanding service. These companies do not advertise, offices are regionally located, products are sold by independent agents and pay far less commissions. These companies are "Lean and Mean" and have a higher "return on investment" and a lower operating cost than the "main stream" well known insurance companies.
Results, you could receive more coverage for your insurance purchase, better internal rates of return and better priced riders for your policy. These are the type of products WBG utilizes in estate planning, trust formation, charitable giving programs and personal protection for you and your financial interests.
WBG has developed a unique Charitable Endowment Program (CEP) using these cost effective insurance carriers verses the expensive insurance carriers. Our Charitable Endowment Program (CEP) makes it possible for you to be able to make a charitable gift with little or no funds out of your pocket, gain a charitable deduction and in some cases get an increase in coverage or cash back without having a taxable event! If you wish to learn more about our CEP for a church or non-profit organization, send WBG an email.
If you have questions about the different types of insurance and policy riders go to the Learning Center and find out more of what you want to know. Below is a link that discusses Long Term Care Insurance (LTCI) integrated into an insurance policy.
Also below are two links about Life Insurance Trusts and Asset Protection Trust.