Some advisors may wonder what value life insurance can offer high net worth individuals, considering people in that income bracket already have accumulated significant wealth.
But although they might have more wealth, they typically have more debt and more expenses and owe more in taxes. They also may expect or desire to pay for their children’s or grandchildren’s educations, for their children’s or grandchildren’s weddings, or a charitable legacy. Life insurance can help build multigenerational wealth while ensuring that a person’s or couple’s hard-earned money passes to future generations in the most tax-efficient way possible. More>>