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Want to leave a larger legacy to your church, favorite charity, school, family member or other beneficiaries? Wealth Transfer is life insurance designed specifically for seniors and planned giving. Why use wealth transfer? --The size of your gift can be instantly increased by 50-100%. --Beneficiaries receive a 100% tax free payout. --The money avoids probate, no fees are deducted and payout is immediate. --Simplified underwriting to age 90. --Premium is 100% refundable upon request. |
| Leaving a Legacy |
| Want to leave more to your heirs and less to the government in taxes? Mary's story: At age 82 Mary has diabetes controlled by oral medication. (not insulin controlled.) She would like to increase the legacy that she is leaving for her family. She uses an IRA distribution of 30,000 a year to purchase a life insurance policy with an immediate death benefit of $390,000. Ralph's story: Ralph's estate exceeds the amount that you can pass to your heirs tax free by $350,000. Ralph purchases a single premium life insurance policy for $350,000 with a benefit of $450,000. He is 79, in fair health. This reduces his estate down to tax free levels. Ralph passes away: His heirs receive $450,000 instead of $350,000. They receive the money quickly. The money passes outside of his estate. The money avoids the delay and expense of probate and estate taxes. |
Vital Plan, Inc.
Leaving a Legacy
| Want to leave a larger legacy to your church, favorite charity, school, family member or other beneficiaries? Wealth Transfer is life insurance designed specifically for seniors and planned giving. Why use wealth transfer? --The size of your gift can be instantly increased by 50-100%. --Beneficiaries receive a 100% tax free payout. --The money avoids probate, no fees are deducted and payout is immediate. --Simplified underwriting to age 90. --Premium is 100% refundable upon request. |
Example:
Betty and her husband John have $50,000 ear marked to give their church.
They are keeping it in a CD that is receiving a small amount of interest. They
are 77 and 79. They have other funds set aside for income and to leave their
family. Betty and John work purchase a wealth transfer policy to benefit their
church. Since Betty is in good health, the policy is purchased in her name
using the funds in the CD. Betty & John's $50,000 purchased a policy that
provides a death benefit of $75,000, naming their church as the
beneficiary.
The amount going to their church is increased by $25,000
immediately!
Question: What if Betty becomes ill and uses up all her other funds, and
needs the $50,000 back?
Answer: The $50,000 premium is refundable anytime.
Question: Do the funds have to go through the lengthy and expensive
probate process?
Answer: No, the funds are paid directly to the beneficiary without delay.
Question: How old can you be and still be allowed to purchase a policy?
Answer: Policies can be written on those up to age 90 in reasonable health
Betty and her husband John have $50,000 ear marked to give their church.
They are keeping it in a CD that is receiving a small amount of interest. They
are 77 and 79. They have other funds set aside for income and to leave their
family. Betty and John work purchase a wealth transfer policy to benefit their
church. Since Betty is in good health, the policy is purchased in her name
using the funds in the CD. Betty & John's $50,000 purchased a policy that
provides a death benefit of $75,000, naming their church as the
beneficiary.
The amount going to their church is increased by $25,000
immediately!
Question: What if Betty becomes ill and uses up all her other funds, and
needs the $50,000 back?
Answer: The $50,000 premium is refundable anytime.
Question: Do the funds have to go through the lengthy and expensive
probate process?
Answer: No, the funds are paid directly to the beneficiary without delay.
Question: How old can you be and still be allowed to purchase a policy?
Answer: Policies can be written on those up to age 90 in reasonable health
The above is not intended as legal or financial advice. Please contact an advisor for guidance for your personal situation.
Contents subject to change. Every attempt has been made for accuracy, however, we are not responsible for errors in text.
Contents subject to change. Every attempt has been made for accuracy, however, we are not responsible for errors in text.
Shelly Ballard, CSA
Tarkenton Financial Representative
St. Petersburg, FL
Cell: 727-417-6107
shelly@vitalplan.com
Tarkenton Financial Representative
St. Petersburg, FL
Cell: 727-417-6107
shelly@vitalplan.com
Copyright 2008, Vital Plan, Inc. All Rights Reserved
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| What is your favorite charity? Do you want to leave them more? |
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