Insurability – The Most Important Retirement Asset?
Few American publishers have had or will ever approach the influence of Henry Luce in his heyday.
Through the middle half of the 20th century, Luce founded and successfully grew a family of magazines whose content was a major factor in shaping the thought and activity of American society.
He named them after the three things he thought most important; Life, Time and Fortune.
We have only to look to our retirement planning to appreciate the accuracy his conclusion.
Consider this:
The purpose of a program of systematic savings during our employment years is to accumulate the Fortune necessary to provide for the Life to which we have grown accustomed hoping we have enough Time to achieve that goal.
Traditional qualified retirement plans can prove insufficient toward that end for wealthier clients. Limits on contributions as well as an inadequate period for saving, especially in the event of premature death, can leave a retiree short of funds necessary to maintain his or her lifestyle. Other initiatives must be taken.
A time-tested vehicle to provide supplemental retirement income is an over-funded universal life insurance policy.
Not only does the contract allow for additional income with many advantages similar to qualified arrangements, but the death benefit feature offers a “self-completion” aspect for the fund in the event of premature death.
Contact us today for a complete discussion of this planning concept.