Sudden and Unexpected

I was driving to a seminar recently when a radio report advised me that the road ahead was blocked as the result of a serious accident. I listened and felt relief that my exit would be well before the accident, it should not hold me up.

A short time later the radio voice announced that someone had driven their car into the back of stopped transport truck. Details were sketchy but it was believed the driver of the car was a man, in his thirties and he had died instantly.

My feelings changed immediately, it caught me off guard. Here was someone I probably didn’t know, now would never know. I started to think about him and the things he had done in the last 24 hours. What did he think about when he was shaving today? Did he set his PVR to tape a favourite show tonight? Who did he leave behind?

Silently I made a small wish for the well-being of who ever that was.

The irony, as I thought about it, was that I was driving to a seminar about life insurance concepts, how to use the financial tool, life insurance, to “tax effectively” transfer assets from one generation to the next.

Life insurance is an important and versatile tool for those who are planning the financial part of their lives and their family’s lives. The features such as tax shelter, immediate liquidity and creditor protection are significant and make life insurance an unmatched tool in estate planning and family wealth discussions. However we sometimes get so caught up in the intricacies and challenges of estate planning and income tax sheltering that we forge.