Life Insurance: A Bargain Buy in 2017
Many of our clients utilize life insurance products to serve the most basic needs of creating liquidity for younger children in the event of a loss of income, all the way to the more complex reasons of funding a buy out of a partner’s interest in a business or funding an irrevocable life insurance trust to defray the cost of estate tax at death. No matter what the reason, all clients should evaluate the cost of his or her insurance plans from time to time.
Life insurance, like many other insurance products, is often something that is purchased and forgotten. However, there has been a substantial lowering in the cost of insurance products over the past four to five years which could create savings for you, your business and your family. Although we are not insurance brokers, we would be glad to connect you to an insurance specialist in the event you would like to evaluate potential savings or converting to a more favorable policy based on your current circumstances. Again, this is something many of our clients forget to do in the throws of their busy lives.
However, you may be overinsured, may be insured in the wrong places, or just may be able to lower your premiums based the on the overall lowering of the cost of insurance in the last several years.
If you have questions about life insurance and trusts, contact NM Law, APC (949-253-0000) to speak to a trust administration attorney. NM Law, APC encourages you to take advantage of our superior skill and knowledge and to speak with us today to get answers to your questions about trusts.
Disclaimer: This article is intended to provide a general summary of laws in the State of California and should not be construed as a legal opinion nor a complete legal analysis of the subject matter. Noelle Minto is an attorney at NM Law, APC in Tustin, California, a law firm specializing in Trusts & Estates and Business Transactions.
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