Life Insurance

Life insurance isn't for those who have died—it's for those who are left behind. When shopping for life insurance, consider needs such as replacing income so your family can maintain its standard of living, as well as paying for your funeral and estate costs.
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Life Insurance

Life insurance isn’t for you — it’s for those you leave behind.

If helping loved ones maintain a standard of living and avoid financial hardships after your passing is a priority for you, life insurance products can help. A general rule is that you may want to seek coverage between five and seven times your gross annual income. As far as the various types of policies go, they can generally be placed into one of two categories: term and permanent.

Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiaries only if you die within that time period. A permanent insurance policy, also referred to as “cash value” insurance, on the other hand, will stay permanently in effect for the rest of your life, as long as premiums continue to be paid and the policy has sufficient values to cover the insurance costs.

In addition to assisting your family after you’ve died, life insurance can be used to provide tax-free retirement income. If structured properly, life insurance can also provide significant tax savings or be used as a wealth transfer vehicle. Life insurance can also be utilized to execute charitable-giving strategies.

Income-tax-free distributions are achieved by withdrawing to the cost basis (premiums paid), then using policy loans. Loans and withdrawals may generate an income tax liability, reduce available cash value, and reduce the death benefit, or cause the policy to lapse. This assumes the policy qualifies as life insurance and is not a modified endowment contract.

Our firm is not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. You should consult a legal or tax professional on any such matters.

Have Questions for Us?

It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.

At Family Focus Financial Group, we offer you the following services:

(Click the images below to learn more about each service)

Annuities

Wealth Accumulation Strategies

Asset Protection

Life Insurance

Retirement Income Strategies

Tax Efficient Strategies

Long Term Care

IRA & 401(k) Rollovers

IRA Legacy Planning

We can also refer you to professionals who provide the following services:

» Trusts » Probate » Charitable Giving » Estate Planning » Tax Planning

Get access to our helpful retirement kit which includes three guides that address topics you should consider when planning your retirement.

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We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Investment advisory services offered through AE Wealth Management, LLC (AEWM). AEWM and Family Focus Financial Group are not affiliated companies.

Legal documents and counsel as well as tax advice are available through our independent consultant, Pasquale L. Givelekian, Esq., CPA.

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.

*Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured.

The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation.

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