Life insurance is an important financial tool for many individuals and institutions. It can provide important financial benefits when the insured individual dies. Most life insurance policies are initially obtained in order to ensure that family members and business partners are not unduly burdened upon the death of an individual.

In each case, the amount and type of life insurance an individual should purchase is different based upon the insured’s personal circumstances, financial status and fundamental goals. We believe that individuals should consult a properly licensed life insurance agent when determining what level of protection is right for their needs and what kind of life insurance policy will best provide that protection. Similarly, a charity or other institution holding one or more life insurance policies donated to them should consult a properly licensed life insurance agent before making any changes to the terms and conditions of any life insurance policy.

Once a life insurance policy has been put in place, the policyowner should regularly review and manage their life insurance policies to maximize their financial gain. Later in life, many of these policy owners may determine that they no longer need their policies, and they may choose to donate their life insurance policies to charities or other institutions so that these charities or other institutions will receive funds when the donor dies.

As part of that regular review, Living Wealth Advisors provides those charities and institutions with the tools to understand the various options they may have with respect to paying premiums for these donated policies. With this information in hand, and in consultation with their insurance agents and other professional advisors, our clients can make fully informed decisions about their insurance policies.