THE $99 LEGACY

Grandparents, Paul and Anne, have one grandchild and are reviewing their financial priorities.

Just $99 per month can leave a lasting financial legacy for children and grandchildren

Parents and grandparents have the opportunity to leave a legacy to their children or grandchildren by providing one of the greatest gifts – life insurance.

A permanent life insurance policy can help provide a lifetime of financial protection for children or grandchildren while funding other goals, including college, a home down payment or supplemental retirement income. By purchasing a life insurance policy while children and grandchildren are young and in good health, parents and grandparents can protect a lifetime of dreams at a minimal cost, while locking in insurability.

Background

For Paul and Anne, family is their world. So it was no surprise that during their annual review with their financial professional, much of their conversation revolved around their two-year-old granddaughter, Emma. As Paul and Anne discussed their changing financial needs, it was suggested they consider buying a life insurance policy for their grandchild.

Paul and Anne were initially unsure how purchasing such a policy might impact their finances. Not only could they design an affordable policy, but purchasing a policy for Emma while she’s young would lock in insurability and likely qualify her for preferred rates.

How it works

Their financial planner shared how just $99 a month could provide security and flexibility throughout their granddaughter’s life. Before leaving the appointment, Paul and Anne purchased a permanent life insurance policy for Emma.

Emma has graduated from college and is ready to purchase her first home. Paul and Anne have diligently funded her policy with $99 each month over that time period. Imagine Emma’s reaction when her grandparents tell her she is able to withdraw $23,760 for a down payment from her life insurance policy.

At this time, Paul and Anne decide to transfer the policy’s ownership to Emma. Years pass and Emma’s cash value continues to grow. At age 70, Emma begins to take annual withdrawals of $56,588 TAX FREE INCOME!!! for the next 20 years.

Throughout the life of the insurance policy, Paul and Anne have been able to provide security through the death benefit, access to cash value when Emma was young and supplemental income during her retirement.

How many clients do you have with children or grandchildren who would be willing to protect their future for $99 a month?

courtesy: Securian Financial Group