2008/08/14

Life Insurance & Estate Planning - What Wealthy Families Want to Know

Newport Beach, Calif. (August 12, 2008) – An estimated $41 trillion in US assets will change hands by 2052.1 Families, especially wealthy families, have specialized estate planning needs but can be confused by complex estate planning strategies full of legalese so Pacific Life Insurance Company and Pacific Life & Annuity Company now offer a kit of “plain English” materials to show how life insurance can stabilize and strengthen estate planning techniques.

Alyce Peterson, vice president of marketing services for Pacific Life, explained that using life insurance in a client’s estate plan provides a death benefit that can be used to help pay for estate taxes owed.

A life insurance policy combined with an estate planning technique can also help:

* Avoid the forced liquidation of assets
* Replenish wealth as it passes from generation to generation
* Instill positive behaviors in heirs
* Equalize inheritances between family members
* Leave a charitable legacy
* Identify which assets to retain, sell or donate.

“Many clients become overwhelmed and even wary when faced with complex planning strategies and the legal language involved,” Peterson commented. “The plain English format of our new resource guide plus the fact finders addresses this problem.”

Financial professionals can get the “What the Wealthiest Families Know” Kit by contacting their Pacific Life Insurance Company or Pacific Life & Annuity Company representative or by calling 866-722-9555.

1 “Wealth Transfer: A Digest of Opinion and Advice” The Journal of Gift Planning Vol. 10, No 2, 2nd Quarter 2006

Pacific Life Insurance Company
Founded in 1868, Pacific Life Insurance Company provides life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.2 Pacific Life counts more than half of the 100 largest U.S. companies as clients3 and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor’s, and Moody’s, visit the About Pacific Life section.

2 Product features and availability vary by state.
3 Data compiled by Pacific Life using the FORTUNE 500® list as of April 2008.

Pacific Life & Annuity Company
Pacific Life & Annuity Company offers a wide range of products, including life insurance, annuities, structured settlement annuities, and other investment products and services for individuals and businesses.4 Pacific Life & Annuity is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life & Annuity, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor’s, and Moody’s, visit the company Web site at www.PacificLifeandAnnuity.com.

1 comments:

Emma said...

Great ! I am not aware of this aspect of life insurance policy. After reading this post I am impressed and surprised to know that life insurance helps in estate planning too. Thanks for making everyone familiarize with this aspect of life policy.
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