How much?
How did you determine how much life insurance you need? Often, we cover fixed expenses such as mortgages, funeral costs and credit cards, plus ongoing income needs. What about the future cost of college for our children? If you have not taken this into account, we can calculate current and future costs of college at public and private universities throughout the country.
Is my money in the right place?
You may already have funds set aside for your children’s college education, but is that money in the right place? Many savings vehicles are subject to reporting on the FAFSA report (used to determine eligibility for financial aid and a family’s expected contributions) and/or may be taxable to you. Cash value life insurance often solves both problems. Properly structured, tax-free loans and withdrawals will be available to pay tuition and are not countable assets on the FAFSA report.
Free money!
If you’ve been to a college planning seminar, you are already aware of strategies to move assets or overfund permanent life insurance policies for tax-free college funds. What’s better than rearranging existing dollars into better funding vehicles? How about FREE MONEY!
Some life insurance companies actually offer college scholarships to children and grandchildren of policyholders. Ask me how your children can become eligible.
Related Posts
Business Life Insurance Beneficiary Mistake #1- Avoid This Common Beneficiary Mistake – Part Two
- Avoid This Common Beneficiary Mistake – Part One
- Why you need to review your life insurance policies
- The High Deductible (Health Insurance) Survival Plan
- MYTH: “I won’t need life insurance when I retire.” – Four reasons that is BUSTED!