You work a lifetime to build an estate that you expect, upon your death, will be distributed to your heirs as you have planned. Unfortunately, federal estate taxes, settlement costs, administration fees and other expenses associated with your death may deplete your assets and put your estate in jeopardy.

Life Insurance is Key to Preserving Estate Assets
“Life insurance can provide many benefits in estate planning,“ says Joshua Klein, Director of the Life Insurance Division of The NIA Group and Kornreich-NIA. “With the proper life insurance policy in place, surviving family members can prevent liquidation of their assets to pay for hefty estate taxes, which are due within nine months of an insured’s death.”

How It Works
Life insurance policies include a death benefit that is payable immediately to families. The death benefit can be used to pay off an insured’s outstanding debts, burial and administration expenses and other settlement fees. It is especially useful because investments, such as securities and real estate, are not readily available, and the hasty sale of such assets could deplete an estate even more than the actual amount of cash needed. In addition, estates are often composed of nonliquid property, such as fine jewelry, artwork, and other sentimental valuables, that families may not want to sell in order to pay off expenses. The death benefit can help prevent this outcome.

“Life insurance helps families solve many critical issues associated with estate planning and can help ease fears before and after an insured’s death,” says Klein. “A NIA specialist can help individuals determine which planning techniques are most appropriate to preserve and enhance the value of their estate.”

For more information on life insurance or creating your estate plan, contact your NIA or Kornreich-NIA insurance broker or Josh Klein at (212) 867-0070; jklein.kornreich@niagroup.com.