Any consideration of the purchase of life insurance begins with an understanding that the policy pays a benefit upon the death of the insured, whether that event happens on the day the contract is issued or fifty years later. This totally unique feature is unmatched by any other financial instrument and makes life insurance suitable for family, business and charitable purposes, where a relatively large amount of funds will be needed but there is no certainty that adequate time will be available for their accumulation. Further, cash values that grow on a tax-deferred basis, are available for a variety of personal and business objec­tives as diverse as paying a child’s college tuition or funding an employee’s supplemental retirement income.

The sheer number of manufacturers, variety of products and differences between policies of the same type, however, make giving advice in connection with the purchase of life insurance a daunting task. Yet, as with any other venture, doing one’s homework can make a great difference in the outcome.
To that end, the purpose of this website is to facilitate the process by succinctly providing information on certain legal aspects to acquiring and owning a policy, the types of contracts that are available, the means for evaluating and comparing policies and insurance companies and the tax treatment of life insurance products.

Finally, due to the complexity of the law and the transactions in which life insurance is used, advice is provided on how to recognize and avoid traps and pitfalls that might be incurred.