Insurance agents are vital in the estate planning process. They help you and your family protect your assets and provide security in your assets for your beneficiaries after your passing. One of the most important roles of an insurance agent in an estate plan is helping families create life insurance policies.
Life insurance policies are crucial for individuals with family members. If you are a parent and spouse, a life insurance policy can essentially replace your income if you pass away. With a proper life insurance policy, you can ensure the lack of your income doesn’t devastate your family financially.
Insurance agents can also provide clients with disability insurance, long-term care insurance, and liability insurance. Each of these options provides an additional layer of security for the individual, their family, and their estate.
Business owners can utilize the expertise from an experienced insurance agent to ensure a smooth transition of the business to the new owner by providing key person insurance or buy-sell agreements designed to help fund the purchase of the business following the owner’s death.
Using an insurance agent for your estate plan can provide advice from an expert in insurance, coverage designed for the individual and their family, savings on premiums, access to multiple insurance carriers, and can work hand in hand with estate plans.
With an insurance agent working in tandem with an estate plan, policies will be designed for these plans and will grant families even more security over their assets.
Insurance agents can help each client reach their fullest potential with their estate plan. Combined with an estate planning attorney, clients can rest assured their estate plans are in the right hands.
For more information, call Ball Morse Lowe at 405.701.5355 or email clientintake@bml.law.