Life insurance, for those who qualify, is a powerful tool to help meet a wide range of personal and financial objectives. Most people are familiar with life insurance as a way of providing funds to replace lost income in the event the family “bread winner” passes away. It can also be used to pay off existing liabilities such as mortgages, and can provide funds for future expenses, such as college costs for children or grandchildren.
Life insurance can also play a significant role in business planning and succession. Banks and other lending institutions may require life insurance on a borrower’s life as collateral for loans. Business owners may also use it to fund buy-sell agreements or to equalize asset transfers to children who do not participate in a family business or farm.
This column is sponsored by The Thornhill Wealth Management Group. Contact us today to learn more about us, how we can partner with you and discuss how a solid plan can help to make you feel more confident about your future. G. Conley Thornhill, CFP®, CIMA®, the Senior Vice President-Wealth Management, or Eric E. Johnson, CFP®, CIMA®, Account Vice President, can be reached at (863) 298-3600 or toll free at (888) 411-5049. Email Conley at email@example.com or Eric at firstname.lastname@example.org.
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BIO: Conley works with high net worth individuals as well as institutional clients by delivering highly customized wealth management solutions. In addition, in 2010 and 2011 he was selected as one of the Barron’s Top 1,000 Advisor’s. Conley Thornhill is a CERTIFIED FINANCIAL PLANNER™ practitioner and holds the Certified Investment Management Analyst® designation.
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