Smart Business SolutionsLife Insurance Planning
When it comes to protecting your loved ones, life insurance is one of the most important things you can do. Life insurance provides financial security in the event of your death, ensuring that your family will be taken care of financially. It's a crucial part of any financial plan, and at Freedom Path Financial, we can help you find the right life insurance policy for your needs.
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There are many reasons to consider life insurance. Whether you’re looking for peace of mind, want to provide for your loved ones in the event of your death, or simply want to make sure you’re prepared for the unexpected, life insurance can be an important part of your financial security. At Freedom Path Financial, we understand the importance of life insurance and are committed to helping our customers find the right policy at a price they can afford.
Most people see life insurance as a way to protect their loved ones financially in the event of their death. And while that is certainly one of the main purposes of life insurance, it’s not the only reason to have a policy. Life insurance can also be used as a financial planning tool to help you achieve your long-term financial goals.
When it comes to life insurance, it’s important to remember that the main purpose is to replace lost income in the event of death. No one knows when their time will come, which is why it’s so important to have a plan in place. Life insurance is a contract between you and an insurance provider that outlines the amount of money your beneficiaries will receive upon your death. In exchange, you agree to pay a set premium each month. This way, if something happens to you, your loved ones will be taken care of financially. It’s important to choose a life insurance policy that fits your specific needs and budget. With so many options out there, it can be overwhelming to try and figure out what’s best for you. Thankfully, our team of experts at Freedom Path Financial can help guide you through the process and find a life insurance policy that’s right for you and your family. Give us a call today and let us help you plan for the future.
Types of life insurance
There are many different types of life insurance policies available, and choosing the right one can be confusing. That’s where we come in. Our experienced team can help you understand the different options and choose the best policy for you and your family. We’ll work with you to find a policy that fits your budget and provides the coverage you need.
There are two main types of life insurance – term life and whole life. Term life insurance provides coverage for a specific period of time, usually 10, 20, or 30 years. Whole life insurance, on the other hand, covers you for your entire life.
Both types of life insurance have their own advantages and disadvantages, so it’s important to consult with a financial advisor to determine which type is right for you. But no matter which type of policy you choose, life insurance can provide peace of mind knowing that your loved ones will be taken care of financially if something happens to you.
Don’t let your family fall apart in the event of your death. Protect them with life insurance.
PRINCIPAL USES OF LIFE INSURANCE
Broadly stated, life insurance is indicated only when there is a NEED.
The following is a list of common estate building and estate conservation needs that life insurance can satisfy:
- Provide for income needs of surviving dependent family members.
- Pay federal and state death taxes and other estate settlement costs (Estate Planning).
- Pay debts, (mortgage, car loans, other loans).
- Provide for children’s education (college planning).
- Shift wealth from one generation to another in the most cost-effective manner possible.
- Meet “special” financial demands of physically or mentally handicapped or learning-disabled children or parents or other dependents with physical or mental limitations.
- Benefit a charity, (charitable uses of life insurance)
- Relieve survivors of financial management burdens by providing an inexhaustible lifetime annuity; and
- Create an “instant estate.”
The following is a checklist of business insurance needs that life insurance can satisfy.
- Fund a buy-sell agreement.
- Finance nonqualified deferred compensation arrangements.
- Provide a basic level of financial security for the families of all employees
- Recruit, retain, retire, and reward key employees.
- Irrevocable life insurance trusts.
- Section 162 Plans.
- Pension Maximization
- 162 Bonus
- Permanent Benefit Section 79 Plan
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Before I found Freedom Path Financial, insurance was always something that felt incredibly complicated and daunting. I had the basics covered, but I knew that my portfolio was lacking in the more advanced aspects of insurance planning. That’s where Freedom Path Financial and their team stepped in, and I couldn’t be more grateful for their expertise.
Joanna Prestley
HSBC Bank
My advisor, Yasir, took the time to walk me through advanced insurance options that are often overlooked but can be life-changing in certain scenarios. We discussed everything from key-person insurance for my business to umbrella policies that provide an extra layer of liability protection. He even introduced me to some innovative financial products like indexed universal life insurance, which not only offers life insurance but also has a cash value component tied to market indexes.
Bradley Smith
Miller Automation
Their customer service was outstanding. Responses were quick, and they were always available for any follow-up questions. They have a user-friendly digital portal that makes it easy for me to upload documents and review policy details. Their ongoing monitoring and annual review service ensure that my insurance needs continue to be met, even as my life circumstances change.
Priscilla Jackson
WA Solutions
What impressed me the most was how Freedom Path Financial tailored its recommendations to my specific financial situation and life circumstances. It wasn’t just about selling me a product; it was about providing me with the best options to secure my financial future comprehensively. The detailed analysis they performed helped me see gaps in my current coverage that I was unaware of.
Collin Leblanc
McIntire Industries
Proactively envisioned multimedia based expertise and cross-media growth strategies. Seamlessly visualize quality intellectual capital without superior collaboration and idea-sharing. Holistically pontificate installed base portals.
Lilah Chang
Hotel Berg
The peace of mind I now have, knowing that I’m adequately covered in all aspects, is priceless. Yasir and the entire team at Freedom Path Financial have earned my highest recommendation. If you’re looking for advanced insurance planning that’s not only thorough but also personalized, you’d be doing yourself a favor by reaching out to them.
Justin Emerson
Applauz Startup
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From our strategic hubs in Maryland and Virginia, we fan out our exceptional services across the dynamic landscapes of New York, Texas, and West Virginia. Whether you're nestled in the Mid-Atlantic or beyond, our commitment to excellence reaches you.
Freedom Path Financial
Our Office Locations
From our strategic hubs in Maryland and Virginia, we fan out our exceptional services across the dynamic landscapes of New York, Texas, and West Virginia. Whether you're nestled in the Mid-Atlantic or beyond, our commitment to excellence reaches you.
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