Life Insurance
64% of Americans aged 58 and older die without life insurance and plunge their families into financial catastrophe.
A solid financial plan safeguards both your income and assets. In the event of a serious illness, the financial consequences for your business and family could be severe without proper planning.
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The thought of your own death can be scary. But what’s even scarier is the thought of what would happen to your business and your family if you died or were incapacitated.
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Life is unpredictable, and none of us can escape its inevitable twists and turns. But with the right life insurance coverage, you can shield your business (employees) and loved ones from the nightmares that keep you awake at night.
What is Life Insurance?
Protect your family. Protect your business. Protect your income. Protect your future.
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Financial security starts with one truth:
If something happens to your health or ability to earn, everything else in your plan is at risk.
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At Legacy Builder Financial Services, we offer modern insurance solutions that do far more than just pay a death benefit. Today’s policies can protect your life while you’re still living — covering critical illness, chronic illness, terminal illness, and even long-term care needs.
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If you were diagnosed with a chronic, critical or terminal illness, how long would your savings last? What will happen to your business? How would you cover the costs? Would you resort to using credit cards or withdrawing from your 401k? What would happen to your plans for a comfortable retirement? Fortunately, there is a solution to this potential financial problem.
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If you had taken a business loan with your personal assets as collateral, life insurance can protect your family from losing those assets. If you name your company as the beneficiary of a term life insurance policy, for example, your business can get the necessary capital to keep it running.
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Life insurance is also important if your families rely on your income. It can provide them financial support.
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You can combine life insurance with a buy-sell agreement in partnerships. A buy-out plan. This allows surviving partners to buy out the deceased partner’s share of the business using life insurance benefits.
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Finally, you can use life insurance as “key person insurance” to provide resources for replacing an essential employee who passes on.
Two types of Life Insurance?
Why Life Insurance with Living Benefits?
Life insurance with living benefits and long-term care planning is essential for ensuring financial security throughout different stages of life. These policies provide a safety net offering access to funds when you need them most, such as during a critical illness or for long-term care needs. Properly designing a policy tailored to individual needs ensures that you are covered for specific circumstances, maximizing benefits and providing peace of mind.
By taking the time to assess your personal goals and healthcare needs, we create a plan that truly supports your future.
