Hello and welcome to ScottStratton.com – I am an Independent Life Insurance Agent in Little Rock and since 2004 have helped many families obtain essential coverage to protect themselves. As a CERTIFIED FINANCIAL PLANNER professional, I believe insurance is an important piece of your overall financial security. As an independent agent, I’m not tied to any one insurance company. Instead, I can shop and compare companies to help you find the right coverage, features, and price for your needs. I work with families in Arkansas and Texas.
Life insurance provides peace of mind, protecting your family. Not everyone needs life insurance. When it is needed, though, it is vitally important to have coverage. Here are some common reasons to consider life insurance.
5 Needs for Life Insurance
- Young Families: You need life insurance to protect your family from the loss of income if something should happen to a parent. It’s unthinkable, but it does happen. If you were gone, your spouse and children would still need to pay the mortgage, living expenses, and future college costs. A Term Life policy for someone who is young and healthy may cost only a few hundred dollars a year. We can evaluate your financial need and consider a 15, 20, or 30 year Term.
- Business Partners, Buy/Sell: You have a business with two or more owners. What would happen if one partner would unexpectedly pass away? Creating a Buy/Sell agreement with Life Insurance would enable the surviving owner to buy out the family of a deceased owner. Then the family gets to cash out and the remaining owner now owns 100% of the business.
- Business Owner Liquidity: You own a business and want to have it go to one or more employees. Can they afford to buy your business? Have key employees vital to your business? Consider a life insurance policy. You can also use life insurance to create liquidity for your heirs if you have a business or real estate which you don’t want to sell or divide.
- Reduce Taxes: Do you have a large IRA or retirement account? Will you be subject to the Estate Tax and the Generation Skipping Transfer Tax? If your heirs face a large tax bill, consider Life Insurance. Insurance death benefits are tax-free to the beneficiaries. Establish an Irrevocable Life Insurance Trust (ILIT) and then the life insurance will exist outside of your taxable Estate altogether.
- Special Needs Trust: do you have a child or grandchild with special needs who will require care after you are gone? Life Insurance can be used to fund a Special Needs Trust which will be protected from creditors and may still enable a beneficiary to qualify for government assistance.
I’m Here to Help
Who can you trust for help with life insurance? Are you looking for an Independent Life Insurance Agent in Arkansas or Texas? There are a lot of insurance agents who are “captive agents” who work for one company. I’m an independent agent, and I think that is better for you. I can shop multiple companies for the right solution for you. After all, companies have different features, different costs, and different strengths.
If you’ve never owned life insurance, it can seem daunting. I am happy to take the time to educate you about your choices and the pros and cons of each type of insurance. On the other hand, if you know exactly what you want, I can shop multiple companies for the best deal. I want to make it easy for you to get the life insurance you need.
If you currently have a life insurance policy, I am happy to do a policy review. We can check if you are able to get a better rate elsewhere. In some cases, we might be able to get you more coverage or reduce your future premiums. Perhaps your needs have changed and a different solution would be a better fit today. Or, we can confirm that you have the right policy for your needs and that you should keep it.
Collaborate With Advisors, Attorneys, Accountants
A lot of financial planners do not have an insurance license today. They focus on their clients’ Planning and Investment Management. In many cases, that includes evaluating and recommending life insurance. How are you going to implement your insurance recommendations? I’d like to help your clients with their life insurance and make you look good in the process. As a CFPⓇ professional, I am a Fiduciary and welcome the opportunity to collaborate with financial advisors, insurance agents, accountants, estate attorneys, business attorneys, divorce and family attorneys. Let’s work together on your client’s needs.
Please use the Contact Me link with any questions. I’m a Little Rock-based Life Insurance Agent, but can work with clients throughout Arkansas and Texas.