Life insurance is a staple in every estate plan, but it’s typically not used to its full potential as an asset for creating multigenerational benefits.
Kevin Johnson, a registered agent for New York Life Insurance Co. in Overland Park, said life insurance is typically taken out on the patriarch of the estate and used to create a death benefit that either goes into the estate or directly to a beneficiary. But Johnson is taking it one step further and selling clients policies that cover the lives…
Life insurance is a staple in every estate plan, but it’s typically not used to its full potential as an asset for creating multigenerational benefits.
Kevin Johnson, a registered agent for New York Life Insurance Co. in Overland Park, said life insurance is typically taken out on the patriarch of the estate and used to create a death benefit that either goes into the estate or directly to a beneficiary. But Johnson is taking it one step further and selling clients policies that cover the lives…