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Life Insurance

Life Insurance is Meant for the Living

If you’re waiting until you die to use life insurance, you’re doing it wrong. After all, it’s called life insurance—not death insurance. But there are a lot of options out there. So which policy can help you the most in retirement? Well, this depends on your strategy.

Live Your Life (Insurance) to its Fullest

What kind of life insurance should you have? Well, what kind of life do you plan to have in retirement?

Term Life Insurance

Basically you're renting coverage - you never own anything. Do you want to rent all your life or would you rather own? This type of coverage is straightforward and a popular choice for younger people who need a death benefit, but in reality this can be the most expensive type of life insurance you'll have the option to purchase over your lifetime.

Universal/Variable Life Insurance

For the risk tolerant individual, these types of insurance allow investing your premiums into financial products like mutual funds. But as the name entails, the product is variable. Five Pathways looks to always put our client in the best situation possible, so although we believe there's a place for every product, we will never sell these products due to their variability and continual increase of their underlying cost.

Indexed Universal Life Insurance

Although a relatively newer product, this was the insurance industry's answer to market enthusiasts. With the potential for higher returns based on market performance and a floor to protect your money from loss, this product has its place in certain strategies; however, it does have a rising cost of insurance component which needs to be addressed.

Whole Life Insurance

This product has stood the test of time, going back over 200 years. There's a reason why the super rich utilize whole life insurance more than any other group of people: it can be modified to accomplish multiple strategies at once and create a zero-tax legacy if used correctly. There are new strategies out there that make whole life worth looking at again if it's been a while. Remember, if you're using it as death insurance, you're not using it correctly.

Work with us and learn how to use your policy strategically alongside your other assets.

Review Your Assets

Strategically consider your options. Get the right combo of cash and coverage.

Review Your Goals

Are you trying to leave a tax-free estate or eliminate Uncle Sam? Is your goal to convert your qualified accounts to Roth or are you looking for long term care coverage?

Nail the Timing

Know how and when to utilize the appropriate policy.

Win at Life

Don’t get sold. Get informed.