Check out this life insurance guest article that has been added to the About Personal Insurance Site. A.M. Hyers, who owns and operates the Ohio Insurance Plan website has contributed the article Transferring Wealth with Life Insurance.
Learn the advantages of using single premium life insurance to transfer wealth along with policy options, investment options, choices for the elderly and tax advantages. This is a must read life insurance article for baby boomers and the elderly.
This is a good start. The article leaves out the uses of the Irrevocable Life Insurance Trust (ILIT), the use of survivorship life
insurance as one of the leading tools for estate transfer and the unique uses of charitable trusts to pass wealth tax free and help one’s favorite charities at the same time.