We use a range of investment strategies to help you mitigate the risk of running out of money over this long timeframe. And, since you’ll likely need the bulk of your retirement assets for your own retirement needs, life insurance plays a key role in refilling the nest egg for your child’s lifelong need.
Life insurance is the #1 tool for funding a Special Needs Trust so your child has the additional resources to fulfill their quality of life needs and wants once you are gone. But not all life insurance policies are the same. For starters, permanent life insurance is designed to outlive you—which is exactly what is needed. A Term policy is temporary, and roughly 98% of term policies benefits are never paid out. Which kind of insurance to do you have?
Even if you have a permanent policy, let me review it to ensure it is providing you with the most efficient use of your premium payments. If you are counting on a life insurance policy to provide for the long-term financial support of your child, let’s review the types and re-determine if the amount is sufficient to pay for the future expenses of your child. We may be able to get you additional benefits for the same premium payments.
