My Money For Life

Leave A Legacy, Not A Mess

September 28, 2017

How many families have been caught up in this kind of battle? It is by far any parent will loathe to witness among their children whom they have raised to look after each other’s welfare.

Among the salient fears of passing on wealth to the beneficiaries while the head of the family is still alive is about losing access and control of his money. However, we can alienate this concern by careful planning and execution.

Here are a few practical tips on how investing in a life insurance policy can ease you of your worries.

Estate Planning: Be aware that the government will be on its toes to collect your estate tax before you can freely delegate and assign your properties, cash in bank, vehicles among others. In other words, all your worldly possessions which are under your name are subject to estate tax. All of these will be FROZEN. This will be an added burden to your family apart from grieving for their loved one.


Delegating an insurance policy to serve as funding for your estate taxes is one way to ease the burden of your grieving family. Just allocate 10%-20% of your net worth to save 100% of your total assets.


Life Insurance: This is the smartest way to allocate and create another cash asset while maintaining full control of your money. In an insurance policy, you are creating another CASH ASSET that can possibly be tax-free. Here, you can delegate and divide your assets accordingly. Invest in an insurance policy and delegate each of your heirs as the sole beneficiary of the proceeds of the policy.


You as a Policy Owner and Insured
You have full control, access and power over the nitty-gritty details of the insurance policy. For a VUL plan, you have the sole access to withdraw or deposit to the fund value or the cash fund inside the policy.


You as the Policy Owner and Your Children as the Beneficiaries/Heirs
As a policy owner, you have the full ownership of your policy inclusive of the access and power over your insurance policy. The beneficiaries become the rightful policy owners upon death of the policy owner. This ensures the smooth transition of your wealth, access and power of the policy to your children, TAX-FREE.


A life insurance policy is the only product that is triggered by death. It comes at the right time, when your family needs it the most. It will never be enough to replace you as person but it will make sure that they have the capacity to go on living, continue with dreams and aspirations and make sure the children will have a bright future ahead.


Cheers to a life well lived! Plan ahead and create a lasting legacy for your family.


Let Sun Life protect you and your family today.

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