Life Insurance Needs Analysis

April 9, 2010 06:36 AM
The potential devastation from untimely death is not worth the risk. This threat can be financially devastating to even the most sound operation. Planning for sudden contingencies is critical to agribusiness financial health, employee peace of mind and your family's financial security. Life insurance is designed to provide money at the very time it is needed most.
Final Expenses
Outstanding Debts
Specific Needs
Educational funds
Income Replacement
Operation Overhead Fund
Estate Tax and Transfer Obligations
Administrative Expenses / Probate Fees
Equitable Transfer Fund
Total Life Insurance Required
Less: Current Life Insurance
< $                            >
Life Insurance Needed

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Spell Check

8/29/2010 12:42 PM

  Our son is intending to own our farm. Could it be advantageous to him to buy a new whole life policy and pay the premiums on his 69 yr old father as a means to provide an inheritance for his siblings? He, of course, would deduct the policy's face amt from what he would owe us for the farm. I'm wondering if this would be a means to sell him the far m at a cost which he could afford. Would this cause adverse liablity to his parents?


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