wealth transfer
DESCRIPTION
Learn how to pass along your assets to your children, grandchildren or charity in a tax efficient manner.TRANSCRIPT
Cincinnati, Ohio
Policy Series 0701-3030 WSA0506-320, 0506-320-U0506-100, 0506-100-U
Rider Series9401-540, 9401-581-U, 9401-670, 9401-671, 0010-620, 0010-602, 0010-675
AM002 0801Legacy Master® is issued by Western-Southern Life Assurance Company. Superior Value Life is issued by The Western and Southern Life Insurance Company. Economy Life is issued by The Western and Southern Life Insurance Company. WESTERN-SOUTHERN LIFE® Copyright January 2008.
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FITTING THE FITTING THE PIECES PIECES
TOGETHERTOGETHER
Legacy Master® is issued by Western-Southern Life Assurance Company. Superior Value Life is issued by The Western and Southern Life Insurance Company. Economy Life is issued by The Western and Southern Life Insurance Company. WESTERN-SOUTHERN LIFE® Copyright January 2008.
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Maximize and preserve assetsMaximize and preserve assets Allows for the orderly transfer of assetsAllows for the orderly transfer of assets Minimizes taxes and costsMinimizes taxes and costs
Your Legacy
WhyWhy Wealth Transfer?Wealth Transfer?
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Why use life insurance to Why use life insurance to transfer wealth?transfer wealth?
Financial AssetFinancial Asset Taxes at DeathTaxes at DeathQualified Plans Qualified Plans (401(k), IRA, etc.)(401(k), IRA, etc.)
Entire value is Entire value is taxable incometaxable income
Non-qualified Plans Non-qualified Plans (NQ annuities)(NQ annuities)
Gain is taxable Gain is taxable incomeincome
Life InsuranceLife Insurance Death benefit is not Death benefit is not taxable incometaxable income
Western & Southern Life does not give legal or tax advice. Any discussion of federal taxes in this presentation is not intended to be complete or cover all situations. The comments are general in nature and should not be considered tax advice. Your should consult counsel or other specialized advisor for more complete information.
Financial assets are not taxed the sameFinancial assets are not taxed the same
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Three major advantagesThree major advantages Tax BenefitsTax Benefits
Growth PotentialGrowth Potential
GuaranteesGuarantees
Life insurance maximizes Life insurance maximizes transfer of wealth to transfer of wealth to beneficiariesbeneficiaries
Not a deposit. Not FDIC-insured. Not insured by any federal government agency. Not guaranteed by Fort Washington Savings Company. May go down in value.
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Death benefit is paid to your beneficiary Death benefit is paid to your beneficiary income tax freeincome tax free Multiple beneficiaries are allowedMultiple beneficiaries are allowed
Your beneficiary may be a family member, Your beneficiary may be a family member, charity, close friend, or caregivercharity, close friend, or caregiver
Cash values grow income tax deferredCash values grow income tax deferred
Tax BenefitsTax Benefits
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You may access cash for emergenciesYou may access cash for emergencies
Policy loansPolicy loans
Partial surrendersPartial surrenders
Accelerated Death Benefit Rider, where Accelerated Death Benefit Rider, where approved and availableapproved and available
Waiver of surrender charges for qualifying Waiver of surrender charges for qualifying nursing home or hospital confinement where nursing home or hospital confinement where availableavailable
Cash for EmergenciesCash for Emergencies
* In most cases, this policy could be a Modified Endowment Contract, as defined by IRC 7702A. As such, loans and partial surrenders are taxable to the extent of any gain in the policy. Also, loans and full or partial surrenders before age 591/2 may be subject to a 10% penalty tax.
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Create a large, and immediate, Create a large, and immediate, income tax free death benefitincome tax free death benefit
Creating A LegacyCreating A Legacy
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The death benefit and cash values are The death benefit and cash values are guaranteed for the insured’s lifetime*guaranteed for the insured’s lifetime*
No Market Risk FluctuationsNo Market Risk Fluctuations
Life insurance proceeds are not subject to Life insurance proceeds are not subject to the cost and delays of probatethe cost and delays of probate
GuaranteesGuarantees
•*Unless the policy ends prematurely due to cash surrender or excessive policy loan.
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Single PremiumSingle Premium Legacy MasterLegacy Master®®
Periodic Premium PaymentsPeriodic Premium Payments Superior Value LifeSuperior Value Life
Economy LifeEconomy Life
Universal LifeUniversal Life
Payment OptionsPayment Options
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Gives you Gives you ControlControl and offers Peace of Mind and offers Peace of Mind
Increases the estate value Increases the estate value immediatelyimmediately
Death benefit paid to heirs is Death benefit paid to heirs is not subjectnot subject to to income taxincome tax
GuaranteedGuaranteed Death Benefit and Cash Values* Death Benefit and Cash Values*
Death Benefit is Death Benefit is not subjectnot subject to probate to probate proceedingsproceedings
Can beCan be accessed in the event of an emergency accessed in the event of an emergency
Benefits to YouBenefits to You
* Unless the policy ends prematurely due to cash surrender or excessive policy loan. 11 of 14
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Holds the following ratings awarded by three Holds the following ratings awarded by three highly respected, independent insurance-rating highly respected, independent insurance-rating firms:firms:
Standard & Poor’s AA+Standard & Poor’s AA+ for Very Strong for Very Strong financial security characteristics (second highest of 21 financial security characteristics (second highest of 21 ratings; rating held since August 2005)ratings; rating held since August 2005)
A.M. Best A++ (Superior) A.M. Best A++ (Superior) for financial strength, for financial strength, operating performance, and market profile (highest of operating performance, and market profile (highest of 16 ratings; rating held since May 1991) 16 ratings; rating held since May 1991)
Fitch AA+ Fitch AA+ for Very Strong insurer financial strength for Very Strong insurer financial strength (second highest of 21 ratings; rating held since (second highest of 21 ratings; rating held since September 2002)September 2002)
Ratings are subject to change from time to time. The ratings shown herein are correct as of 01/02/08.
Western & Southern LifeWestern & Southern Life
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Next Steps:Next Steps:
Step 1 Step 1 I gather your informationI gather your information Step 2 Step 2 I help you determine your needsI help you determine your needs Step 3 Step 3 I explore alternatives with you I explore alternatives with you
based on the information we based on the information we gatheredgathered
Step 4 Step 4 I recommend solutions to fit I recommend solutions to fit your your need need
Step 5 Step 5 I will review your plan annuallyI will review your plan annually
Western & Southern LifeWestern & Southern Life
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Western & Southern LifeWestern & Southern Life
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Let’s look at your assetsLet’s look at your assets
Step 3Step 3
Exploring alternativesExploring alternatives
based on the informationbased on the information
we gathered we gathered
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