Can you actually create generational wealth with Life Insurance?
If you are looking at new ways to create wealth for future generations in your family, Life Insurance may just be the answer you were looking for.
Life Insurance helps to cover needs like debts, mortgages, funerals, and day to day living expenses if an individual were to pass away. However, it is also an interesting option for passing down generational wealth.
Some reasons you may want to look further into the option of Life Insurance for generational wealth:
- Generally, life insurance payouts aren’t taxable, making them an attractive alternative for those looking to leave their family money.
- You can apply for lump sum payouts with Life Insurance or you can apply for Life Insurance that pays out over time giving your family a lasting stream of income.
In conclusion, life insurance can in fact help you pass down generational wealth for your family, as long as your death is while your policy is active.
If you have further questions or would like to discuss how Life Insurance can help with generational wealth, please contact us.