Many of our clients ask us if they have adequate life insurance to take care of their family in the event of their premature death. Survivorship Needs Analysis (SNA) is a study that can be done for a modest fee and can answer this question.

The SNA process

Quantify your goals in the area of income for your wife, education for the children, pay-off of mortgage( if any) or provide funds for housing, pay-off of any other liabilities. Project these needs into the future adjusted for inflation and taxes.

Gather data on all assets including life insurance, company retirement, investments, social security benefits and apply them against the goals.

Determine the shortage (if any) and explore the methods to make up for the shortage.

Choose the best solutions and discuss trusts and proper ownership of life insurance policies along with tax-advantaged methods for accumulating funds for retirement and college education.