Later-Life Insurance Rules – Wall Street Journal – 10/06/12




The Wall Street Journal

Weekend Investor –  Conquering Retirement – October 6, 2012

Later-Life Insurance Rules

By Ellen E. Schultz

With an uncertain economy and the erosion of many retirement plans, people nearing—or in—retirement are seeking ways to build savings and protect their spouses.

Granted, life insurance can be a critical tool in an estate-planning or charitable-giving strategy for wealthy investors. For example, death benefits can be used to pay estate taxes that otherwise would have to be paid by selling investments or illiquid assets at a discount.

Comments October 6, 2012
Whole Life Insurance can be a very costly form of permanent life insurance due to the timing of premiums designed to build cash value. On the other hand, Guaranteed Universal Life Insurance (GULI) is much less expensive since policies are not designed to build cash value. Rather, they are a form of permanent life insurance designed to leave the greatest death benefit for the lowest premium.

For example, a parent or grandparent may purchase a GULI policy so they can leave a legacy for their family. With a $5,000 annual premium they could purchase a $500,000 death benefit. Even if they paid a total of $100,000 over 20 years, they would still leave a legacy five times larger than the premiums they paid.

Let us research the market and design a life insurance solution to meet your needs and budget at:

Aaron Skloff, AIF, CFA, MBA
CEO – Skloff Financial Group

Aaron Skloff, Accredited Investment Fiduciary (AIF), Chartered Financial Analyst (CFA), Master of Business Administration (MBA), is the Chief Executive Officer of Skloff Financial Group, a Registered Investment Advisory firm. The firm specializes in financial planning and investment management services for high net worth individuals and benefits for small to middle sized companies.  He can be contacted at or 908-464-3060.

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