Insurance strategies come in many forms, but at McDowell Financial Group, our goal is to implement and maintain a plan that addresses both fundamental needs and sophisticated wealth management objectives. A well-designed life insurance strategy considers not only death benefit protection and the tax-advantaged cash value accumulation potential of permanent life insurance, but also its role in legacy planning and multi-generational wealth preservation. With nearly 40 years of experience in the design, implementation, and monitoring of insurance plans, we bring deep expertise to every client engagement.
We routinely perform comprehensive insurance analyses as a service to our clients. This process includes reviewing your existing coverage, surveying the marketplace, and assessing adjustments that may enhance your insurance portfolio. By engaging our clients in this process, we help ensure that goals are consistently met. Modern life insurance policies are flexible, offering a powerful means to address a wide range of personal, business, and charitable objectives.
Personal Objectives
Family Coverage
Provides a source of cash for surviving family members to utilize for living expenses.
College Funding
Provides a funding source for college education of children or grandchildren.
Debt Coverage
Generates cash to pay off an existing mortgage or other personal debt.
Wealth Creation
Provides funds to leave as an inheritance or to equalize inheritances among family members.
Estate Tax Liquidity
Creates liquidity to pay estate taxes rather than requiring liquidation of existing estate assets.
Gifting Leverage
Leverages the use of the annual gift tax exclusion, the lifetime exemption, and/or Generation-Skipping Transfer Tax exemption.
Business Objectives
Key Employee
Provides funds to aid in the search for a replacement in the event of a key employee’s death.
Executive Recruitment and retention
Used in a variety of non-qualified benefit programs to help attract and retain key employees.
Business Continuation
Provides funds to aid in the continuation of business in the event of an owner’s death or disability.
Succession Planning
Provides liquidity to purchase the ownership
interest of a deceased owner.
Debt Coverage
Creates a pool of money that can be
used to pay off borrowed money.
Charity
Wealth Replacement
Used with many charitable gifting programs to replace, for heirs, the value of estate assets that were gifted to charity.
Gift Creation
Used to create a significant donation to charity at death or during life.
Gift Leverage
Used to maximize the eventual charitable donation at the death of the insured.
Although often mistakenly viewed as a price-only decision, the long-term nature of life insurance necessitates careful consideration in the selection of the insurance carrier, the product type, and the insurance professional to represent you and interact with your heirs. When purchasing life insurance, some questions to consider include:
Does the insurance professional have a business succession plan that provides for continued service after the retirement or death of the original agent?
Does the insurance professional have sufficient experience to adequately meet your needs?
Does the insurance professional have any influence with the carrier selected?
Is the carrier financially sound?
Does the carrier have a history of equitable treatment of existing policyholders?
Will the service levels provided by the carrier satisfy your requirements?
Will the product be able to adapt to changes in your personal and financial goals or situation?
Are the pricing assumptions of the product economically sound?
If a term purchase, what products may be converted?
These considerations highlight the power of M Financial Group. As a Member Firm, we are part of a community of leading life insurance professionals. This network provides access to exclusive products, enhanced pricing, and unique service considerations not available through standard channels. For clients seeking sophisticated, multi-generational insurance strategies, working with an M Member Firm like McDowell Financial Group is a prudent and strategic choice. Please go to www.mfin.com/DisclosureStatement.htm for further details regarding this relationship.