The family Continuation Plan is highly recommend to keep the family’s finances intact.
Currently, the majority of people have not saved enough money to live comfortably during their retirement years. The situation is quite dire.
The solution? We recommend to our clients to purchase life insurance on one or more of their parents and in-laws. The life insurance purchased on a parent is 100% tax-free and there is no limit to the amount you can purchase.
Actual Case Scenario #1:
John 42 and Debra 41, have two kids, ages 10 and 14. John and Debra are doing everything then can to maintain their household. They put away money each month into their 401K plans. Trouble is, they really have no idea how much, if any, they are earning on their retirement plan. In addition, they both worry they will not have enough anyhow to provide them a decent retirement.
Solution? John and Debra are going to purchase a tax-free, guaranteed life insurance policy on each of their parents. This tax-free life insurance will guarantee John and Debra much-needed retirement income in their later years.
Actual Case Scenario #2:
Paul and Janet, no kids, ages 46 and 48, have next-to-nothing saved for retirement. Although they have solid income — $110,000 combined, they have admittedly ignored their retirement savings. Paul and Janet need some guidance and telephone our office.
Solution? Paul and Janet realized the amount of money and the time it would take to reach their retirement goals were too much to budget. Instead, Paul and Janet took out tax-free life insurance policies on their parents; one on Paul’s Dad and one on Janet’s mom. Paul and Janet will now receive tax-free income to help fund their vastly underfunded retirement program upon the passing of their parents.