Owning an estate that is mixed in assets may be a challenge to distribute equally. We offer Universal Life and Whole Life insurance plans to help you tailor solutions to grow your estate and transfer your wealth according to your wishes.
You are a successful owner of a family business. Your assets are worth $5.3 million, of which $4.0 million is in your business and $1.3 million is in cash.
You want to ensure both children receive an equal distribution of your wealth in the future. However, as your son is planning to take over your $4 million business, your daughter will only receive $1.3 million in cash.
Now you can create a larger estate to transfer to your children. Purchase an insurance plan with a premium of $1.3 million which pays out $4 million to your estate.
Your estate will be worth $8 million. You enjoy peace of mind knowing that both children are equally well taken care of.
Note: The premium used in the example is rounded to the nearest hundred thousand and could vary based on age, gender, smoking status, country of residency at inception and other loadings imposed (if any).
Besides catering to estate planning needs, this insurance plan can also be customized to meet the needs of business owners seeking insurance coverage in other areas, such as insuring against the loss of a keyman and supporting a business continuity plan.