Insurance Strategies

Life Insurance

You may see life insurance as a necessary evil while you have young children, or you may understand, like America’s biggest banks, corporations, and wealthiest investors, that life insurance can be designed to not only avoid income and estate taxes on your death, but to also grow your money without market risk and grow and spend it without income tax.

Heafner Financial Insurance Strategies Life Long Term Care Insurance401(k)s, IRAs, and Roths have contribution limits, while life insurance has no government contribution limits. The key to understanding life insurance is to understand that it can be designed in many ways to accomplish your goals, and as long as it follows the tax code making it “life insurance,” it has tremendous tax benefits. These tax benefits give rare power in asset accumulation to create special opportunities not only for your beneficiaries, but also for you to grow tax-free income for your enjoyment.

High-net-worth families and corporate America appreciate that life insurance grows income tax-free for retirement and passes on income and estate tax-free to beneficiaries. Many people miss out on how properly structured life insurance can provide tremendous opportunities to minimize, if not eliminate, taxes.

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Long-Term Care Insurance

Long-term care insurance can play an important role in protecting money for your spouse and children, but if you buy traditional long-term care insurance, you’re taking a speculative risk. You are gambling that you will need the care, knowing that you will waste every dollar if you don’t.

We find that there are typically better choices. There are alternative plans that can provide comparable long-term care benefits that can be passed on income tax-free and savings that can be withdrawn and spent should you not need long-term care.