Over these last few months, in response to the pandemic, we have received inquiries from our clients about purchasing additional life insurance, long-term care, or long-term disability insurance. We are pleased to advise there is now a life insurance policy, which also converts to provide long-term care benefits, should the need arise. Depending on your health, and amount of coverage sought, this insurance may even be available without the need for a personal exam.
We can also help with long-term disability insurance, if you do not currently have the coverage, or if you feel the group insurance provided by your employer is insufficient to meet your family’s income needs, in the event you sustain a long-term disability. With the leadership change in Washington, there could also be an increase to the Estate Tax, via a reduction (to pre-Trump levels) of the Federal Estate Tax Exemption. Estate attorneys often utilize life insurance (within an irrevocable trust) to provide liquidity for estate taxes. If you would like to learn more about any of these products or concepts, please reach out to us.