Life insurance may be used in many personal, business and charitable contexts. Some of the most common uses are:

For the Business & Owners

• Key Employee: provide funds to aid in the search and training for a replacement in the event of the death of a key employee.
  
  
• Executive Recruitment and Retention: used to provide a variety of non-qualified benefit programs to help attract and retain key employees.
  
  
• Business Continuation: provide funds to aid in the continuation of business in the event of the death of a key revenue generator.
  
  
• Succession Planning: provides liquidity to purchase the ownership interest of a deceased owner. 

For Personal & For the Family

• Family Protection: provides a source of cash for surviving family members to use for living expenses.
  
  
• College Funding: provides a funding source for college education for children or grandchildren. 
  
  
• Wealth Creation: provides funds to leave as an inheritance or to equalize inheritances among family members.
  
  
• Estate Tax Liquidity: creates liquidity to pay estate taxes rather than requiring liquidation of existing estate assets.
  
  
• Gifting Leverage: leverages the use of the annual gift tax exclusion, the applicable exclusion, and/or Generation Skipping Transfer Tax exemption.

For Charity

• Wealth Replacement: used with many charitable gifting programs to replace the value of estate assets that were gifted to charity.
  
  
• Gift Creation: used to create a significant donation to charity at death.
  
  
• Gift Leverage: used to maximize the eventual charitable donation at the death of the insured.

Request Additional Information
Contact an Brown & Brown financial advisor at 586-977-6300 or complete the online submission form to discuss all of your options and choose the most suitable life insurance policy to meet your needs.