Mesquite Insurance Agent discusses the benefits of Universal Life

Mesquite Insurance AgentSam Morris discusses the benefits of Survivorship Universal Life Insurance.

Survivorship universal life insurance may not be the first financial tool you think of when planning your retirement.  But in view of the current economic and political environment, you should give this product some thought.  Many people have seen a 30%-50% decrease in their retirement accounts near the end of 2008.

The reduction in investment accounts not only impacts retirement income, but also wealth transfer.  If it was your dream to leave the children with a nice nest egg, that dream may have turned into a nightmare after the drop in the markets.

Survivorship life insurance pays a specified death benefit upon death of the second of the two insureds covered by the policy.  Typically the insureds covered are spouses who want to provide an inheritance and protect heirs.  The survivorship product covers wealth transfer needs and allows retirees to use other investment tools to cover retirement income needs. 

With the political environment the way it is now, this should be a big help for retirees.  The estate tax exclusion of $3.5 million in 2009 will be repealed in 2010 and then revert back to $1 mil in 2011.
The 2011 maximum estate tax rate will be 55%, up from the 45% maximum rate in 2009.

Mesquite Insurance Agent Sam Morris has been providing long term care insurance, along with residential property coverage, auto insurance coverage, disability income coverage, and general liability coverage to clients in Garland and East Dallas since 2000. Sam is a veteran of the armed services and makes it his personal mission to make sure that you have the right coverage… not too much nor too little. Please call 972-240-8075 today for a personal consultation with Sam.