Picture the scene: the pastor has finished the eulogy, and family and friends file past the casket. The CPA is there. So is their attorney. The investment broker and the property & casualty agent express their sympathy. Yet none of them can put money into the hands of the surviving spouse to keep the mortgage paid, cover tuition, or replace the lost income. Only the life insurance professional can do that. Only the life insurance professional can guarantee that the spouse and children remain in their home and that college dreams are not shattered, and that monthly bills continue to be paid. Only a life insurance professional can provide a survivor with the tax-advantaged income that prevents them from having to seek extra employment at the very moment when their world has already been turned upside down. In short, only a life insurance professional can guarantee that the surviving family can remain in the same world they knew before their loss. The Hidden Weight of Taxes Now let’s look at the other great threat to American families: taxes. Over a lifetime, most Americans will give up nearly 40% of their total earnings to taxes. Not just income taxes, but a steady stream of levies on nearly everything: Property taxes Gasoline and fuel taxes Sales taxes on food and clothing Utility taxes on electricity and heating Cell phone and internet taxes City and county taxes Marriage, penalties and more We pay taxes when we earn, when we spend, and when we save. In today’s world, you can even pay taxes when you die, through estate taxes and probate fees.
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