Life Insurance For IndividualsAt Simon, Altman & Kabaker Financial & Insurance Services, Inc. of Encino, CA we take the mystery out of life insurance. Jerry Simon, Mike Altman and Joel Kabaker utilize a wide range of life insurance tools to accomplish our clients’ objectives, whatever they may be.
FURTHERING WEALTH STRATEGIESOur clients’ professional estate planners often employ our life insurance tactics to achieve the larger purpose of the overall wealth strategy.
FACILITATING RETIREMENT PLANSFrequently we consult with our clients’ retirement planning experts to design a life insurance strategy to provide the financial stability necessary to implement the retirement plan.
PUTTING THE ESTATE PLAN INTO OPERATIONOur ability to employ life insurance policies for the specific purposes associated with estate planning accomplishes several tasks at once. Among them is the ability to make assets available between generations while minimizing estate tax consequences. For asset planning associated with family-owned businesses, our techniques utilize various types of insurance vehicles to implement a buy-out plan in the event of one partner’s death. Such techniques also serve the purpose of maintaining harmony among family members. For more on insurance used in family business situations see Creative Uses of Second to Die Life Insurance.
INSURING THE UNINSURABLEKeeping settlements fair and preserving the estate’s valuable assets are certainly two missions of the estate plan. The challenge comes from the unpredictable variables of life—such as coping with a business where one partner is deemed uninsurable. This can scuttle a succession plan where insurance proceeds were intended to pay taxes or to make one estate/owner whole.
Our answer involves the creative use of an insurance product that’s been around for years. This strategy balances wealth distribution between the estates of businesses with multiple owners once the trustee(s) sell the company.
To find out how our Life Insurance Department can help, please contact Joel Kabaker at 818 380-1040 or email email@example.com