How Can Life Insurance Help with Estate Planning?

Life insurance is a great tool to help you plan for your estate. It can help you protect your family’s lifestyle and provide money for important life events, such as college. Your Wellspring Insurance Network Inc. agent can help you choose the best options for your family and loved ones in Frederick, MD.

Maintaining Your Family’s Lifestyle

You want your family to be able to maintain their lifestyle, take care of education costs and healthcare emergencies if you pass away unexpectedly. There’s even a death benefit option to replace your earnings.

Blended Families

Life insurance for death-benefit proceeds can provide for your current spouse or children from a prior marriage. You can even provide for a former spouse if young children are involved.

Balancing Inheritances

Life insurance lets you name a specific beneficiary for death-benefit proceeds. This allows you to provide for one heir if other heirs are to receive specific assets. This can help prevent tension within the family and ensure your assets are distributed according to your wishes.

Paying Estate Settlement Costs

Life insurance death-benefit proceeds can be designated to pay for estate settlement expenses, such as administrative costs and estate taxes. This lets beneficiaries preserve inherited assets, such as property, artwork, and family heirlooms, rather than liquidating them to settle costs.

Transitioning a Business

If you own a business, it’s important to name a successor and groom them for the role. Life insurance can be used to protect your business successor and any partners you may have. This option means the estate or spouse can receive cash if the business is sold, or it can be used to ensure that your business continues.

Stop by or contact Wellspring Insurance Network Inc. to set up an appointment for a quote for life insurance in Frederick, MD.

Commercial insurance that makes sense for your small business

Small business owners in the greater Frederick, MD area need commercial insurance that makes sense for their business. The team at Wellspring Insurance Network Inc. is here to provide the knowledge and guidance necessary to choose the commercial insurance policy that best meets your needs. Our team is dedicated to providing our clients with the protection that they need for their small businesses.  We are here to provide assistance throughout the life of your commercial policy.

Commercial Insurance for Small Businesses

There are many ways that small businesses differ from their larger counterparts. And if you are a business owner, you understand how small businesses rely on hands-on leadership from their owners. You likely have to wear many different hats during your workday, and insurance procurer is one of them. When you work with a full-service insurance provider you can rest assured that you have someone in your corner. 

From helping you find an appropriate policy, to working with you during a claim process, our team makes sure that you have the assistance you need. There are a lot of different policies available to small business owners and it can be a confusing process to find the one that’s right for your company. Our team will be with you throughout the selection process and will stay by your side as your company grows. Commercial insurance is a vital part of protecting your hard work, building, inventory, and equipment and choosing your policy is a task that should be done with a lot of thought and care. 

Are you a small business owner who wants to make sure that their hard work is protected? If you are in the greater Frederick, MD area call or stop by Wellspring Insurance Network Inc. today.