Tax-F
ree, Probate-Free Gifting
Most savings and investments incur loss through income taxes, capital gains taxes and estate taxes. At death, they are often further reduced by probate costs and legal fees. These assets may have already been diminished by the high costs of long term care.
A great solution is SPWL, or Single Premium Whole Life, guaranteed to age 110, and will immediately increase the size of your estate. Death benefits avoid probate and are paid directly to your heirs, tax-free! SPWL also offers immediate access to your funds.
Here's an example: A 65-year-old male non-smoker in excellent health would like to leave $100,000 to his church. If he puts $65,659 in SPWL and names his church as beneficiary, it will receive the $100,000 tax-free when he passes on, and he will still have $34,341 to gift to his heirs or another charitable organization. Click Here for a quote.
What is the purpose of your money?
If the purpose is to pass it on to your heirs, there is no better vehicle than SPWL. Earnings from bank CDs and money market accounts are not income-tax free. Stocks and mutual funds face continual market risk.
Not so with SPWL, a common estate-planning tool that maximizes the benefits of gifting to a family member, or your favorite charitable organizations, SPWL guarantees an immediate death benefit increase of up to 60%*, and may be more cost-effective than paying annual premiums like other policies.
Current tax laws allow a tax-free 1035 exchange from one life insurance policy to another. You may want to review your current policies to see if it would be advantageous to exchange them for a SPWL. Do you have another investment, which is disposable income? If the purpose of the money is to pass on to your heirs, consider cashing it in. You may have to absorb a tax burden now, but your heirs will receive it tax-free.
SPWL does have some limitations. Click Here for more information.
*Amount of increase varies with product, state, and client's age.
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