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Is Your Life Insurance Outdated? (Fall 2006) << Back
by George Y. Hirano, CLU
Benjamin Franklin said, “There are only two things for certain: death and taxes”.  What he didn’t know is that our life span would increase 2 ½ times since his day.  Since 1941, life insurance Mortality Tables have changed to reflect our longer life span on four separate occasions.  Longer life span = lower Mortality Tables, which = lower life insurance premiums.  Life insurance policies are purchased at premiums based upon the tables in effect at the time of purchase.  Thus, policies purchased years ago are not competitive when compared to premiums based upon current Mortality Tables.
What can you do to capture lower premiums for comparable coverage?  AHTKY has helped hundreds of policy holders, regardless of the life insurance company with which you are currently insured, to move to currently available Mortality Tables with its resultant savings through the use of IRS Section 1035.  Section 1035 allows gains (cash values less premiums) involved in exchanges of life insurance policies to be deferred and death proceeds shall continue to be non-taxable as income.  Call your agent at AHTKY for a professional study of your individual situation.
The Planning Tool
How devastating can the loss of one’s life partner be to the survivor?  Life insurance is not the psychological answer, but it is the planning tool to offset the financial chaos which follows the death of the family’s breadwinner.  Who will pay for the mortgage, ongoing living expenses, college tuition for the children, cars when needed, and the myriad number of other expenses which are part of everyone’s life?  Even wealthy clients use life insurance to offset the inroads of Estate Taxes levied against the savings, home, retirement plans and other assets which have been accumulated over a lifetime.  It is a belief at AHTKY that where there is love, you will find life insurance.
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AHTKY Insurance Agency, LLC
1451 W. Artesia Blvd, Suite A, Gardena, California 90248
CA License: 0C46036