Tom and Kristin's retirement plan — summer sales ideas 2014 Blog added by Steve Savant on July 15, 2014
Steve Savant

Steve Savant

Scottsdale , AZ

Joined: January 28, 2005

My Company

Tom and Kristin Scott, age 40 and 35, have two daughters, Daisy and Jody, age 10 and 8. We analyzed how much life insurance the Scotts should acquire to take care of both girls' needs through their college years should something happen to their parents. We ended up recommending $500,000 of 15-year term insurance coverage on each parent. Tom's annual premium: $600; Kristin's annual premium: $400. But when we returned with our recommendations, we expanded the analysis further to include a retirement evaluation for Tom and Kristin through their age 100/95 using InsMark's Wealthy and Wise® planning software. We'll include the cost of the term insurance noted above in this assessment, and we'll also include funding for the actual cash flow needed for the girls' college plus other items described below. Then we'll examine cash value life insurance alternatives instead of term insurance.

In this video blog, I interview Insmark senior advisor Don Prehn to demonstrate this powerful tax advantaged idea.

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