A sound life insurance protection strategy addresses your coverage needs today, over your working life and even during retirement. This may involve “layering” coverage — purchasing term life insurance with varying coverage periods and a certain amount of permanent life insurance too. All or a portion of the term coverage can be converted to permanent over time, to meet your long-term protection needs. The idea is purchasing policies that, in combination, will provide an appropriate amount of life insurance protection during various stages of your life.
Whole Life Insurance as a Financial Asset
Group life insurance plans may not be adequate
Retirement Supplement
*Source: 2024 Insurance Barometer Study, Life Happens and LIMRA
Life insurance serves as an asset that provides a safety net against financial emergencies and unexpected life-changing events.
A majority of working adults (55%) say they have life insurance coverage through their employer.
Men continue to be more likely than women to report owning life insurance: 54% versus 48%.
Gen Z and Hispanic adults are the least likely to say they own life insurance.
40% of American adults believe they need more life insurance, representing close to 100 million adults.
Insufficient coverage has grave consequences for countless families.
Nearly half (47%) say they would have trouble paying living expenses within six months of their primary wage earner’s death.
40% of adults say their loved ones would be barely or not at all financially secure should the primary wage earner die unexpectedly.
Many people mistakenly believe life insurance is too costly and only necessary for the young and healthy or fully covered by employer plans.
For those working on creating wealth and gathering significant assets and investment holdings, one question often posed in the face of advancing years is “is life insurance a good investment?” This is a common question asked by those who may be leaving behind families, potential debt, or even business interests. In some cases, life insurance may be a solid way to help protect your family and business from your final expenses and remaining debt. Let’s take a closer look at when it may be a good idea, and when you should avoid it.
Depending on what type of policy you’re looking at, you might still be on the fence about whether life insurance is a good investment at this point in your life. In the face of advancing years, an important question is whether life insurance can be a good investment for those who are trying to build up their assets and investment holdings. If you still find yourself asking “is life insurance a good investment”, reach out to our team at Prevail, and talk it over with some of the best wealth management advisors in the midwest.
Bruce Gordon discusses strategies to help protect your financial future, diversify your assets by tax class, and be proud of the legacy you leave!
Life insurance is evaluated based on goals, timelines, cash flow, and existing planning gaps.
Protection, liquidity, tax coordination, and legacy planning when appropriate.
Policies are reviewed for structure, performance, costs, and alignment with objectives.
Policy selection is based on purpose, funding capacity, and long-term planning goals.
Funding levels and consistency directly impact sustainability and outcomes.
Life insurance is integrated to complement—not conflict with—tax strategies.
It can provide liquidity and structure for efficient wealth transfer.
Through proper design, ongoing reviews, and funding discipline.
Regularly, and after major financial or life changes.
Planning considers current and future insurability constraints.
Liquidity varies by structure and must be planned carefully.
Life insurance fills specific planning roles rather than competing with investments.
Funding stress, performance drift, or changes in objectives.
Prevail evaluates carriers based on financial strength and policy suitability.
When timelines are short, cash flow is constrained, or goals are unclear.
