Summary: Life insurance is a crucial tool in wealth-building and financial planning strategies.

From Yahoo Finance: 2025-06-22 09:15:00

Summary: Building a legacy of wealth and success is achievable with the right mindset and financial planning. Life insurance can be a powerful tool in building wealth, providing protection for loved ones, and funding major goals. It’s important to incorporate estate planning and life insurance early on for long-term financial security.

Summary: Life insurance can do more than just provide a death benefit. With whole or universal life insurance policies, you can build cash value, borrow against it, and fund major goals like buying a home or covering college tuition. Proper life insurance coverage is essential for protecting businesses and ensuring continuity in the event of a major stakeholder’s passing.

Summary: Life insurance can also be used to fund buy-sell agreements for businesses, ensuring smooth ownership transitions in the event of death, disability, or an owner walking away. Incorporating life insurance into your wealth-building strategy is crucial, especially if you have dependents, a business, or are considering estate planning.

Summary: High-net-worth individuals can benefit from life insurance to cover estate taxes and ensure assets are distributed according to their wishes. Working with a financial advisor can help find the right policy to offset estate taxes and plan fairly for heirs. Life insurance is a valuable tool to consider for long-term financial security and wealth building.



Read more at Yahoo Finance: 3 Signs It’s Time To Consider Life Insurance as Part of Your Wealth-Building Strategy