Life Insurance
A short story about cash value accumulation
A Closing Note from Charley


Life Insurance

As part of the baby boomer generation, we are raising, or have raised our children, and many of them now have families of their own. Hopefully, they are enjoying success in their lives and careers.

Some of us have grandchildren, whom we expect will do great things with their lives. What most parents and grandparents never stop to consider is the purchase of life insurance to secure the financial wellbeing of children and grandchildren.

In the past, this was considered primarily for the needs of the family if the primary income earner passed away. Today, while this is still a primary reason for its purchase, there are several other benefits provided by permanent insurance. In my experience, many people are unaware of some of the most important benefits of permanent life insurance.

You can also give your children and grandchildren a significant head start by purchasing life insurance for them while they are still young. Some of the advantages are:

  1. The younger the policyholder, the lower the premiums.
  2. By starting early, the policyholder will always have some life insurance in place assuming premiums are paid.
  3. The cash value accumulates over time.
  4. Funds for college may be available.
  5. Funds for cars, homes, or other significant events may be available (see story).
  6. The policy can leave a legacy for a family as well as for heirs.
  7. The cash value accumulation may allow them to become their own banker later in life (see story).
  8. The policy may provide supplemental retirement income.

Permanent Life Insurance is a lasting gift you can give your loved ones! By applying for coverage and qualifying for the policy, you can rest assured that your loved ones will be provided for when it is most needed. The best part is that a life insurance policy need not cost a fortune. Even if you did not acquire a policy at an early age, there still are many affordable opportunities available for older people.

It will always be my wish that you and your family will never have to deal with some of the challenging life events that crossed my path. I will be happy to talk to you if you would like to review your current life insurance and annuity program or to discuss the opportunities which have been discussed here.

A short story about cash value accumulation: Be your own banker in later life.

Several years ago, an agent I know had a client who was married and owned a very promising business.

His problem was that his wife had sued him for divorce and he was unable to raise the necessary finances for the divorce and for related attorney's expenses.

His agent reminded him that he had a cash value life policy which he did not remember having and the agent advised him of the amount available. The insured was able to utilize the cash value to pay for the divorce and other related expenses.

He was able to use the cash value in his policy to be his own banker, and went on to retain and grow the business.

In other examples, the cash value might be used for major purchases instead of utilizing credit sources. In this case, you simply borrow from the policy and make payments back to the policy, thus paying the 'interest' to yourself.

Start a conversation with Charles Stokoe


There are several financial products which are designed for use in retirement programs.  Mutual funds, Stocks or Stock funds, ETF’s, CD’s, Life insurance policies as well as Annuities.

Each of these have their place in one’s retirement programs.  One product which can be beneficial as an income source, as well as an accumulation source, is Annuities.

There are many different annuities in today’s marketplace.  Some of these may provide a Guaranteed Lifetime Income benefit stream  which is a payment stream that lasts until the owner, or the annuitant, of the policy passes away.  It may, or may not, have a death benefit at the time of death.

A Closing Note from Charley

There are many issues that cross our paths during life. Some are tragic, most are wonderful.  The issues presented in this website are here to help you get a sense of some of the challenges people face along the way; to help you think about some issues that we don’t usually spend much time dealing with; to encourage you to take some action in some areas to help you improve the financial future of yourself as well as your families.

I have tried to present these issues which have crossed my life’s path, not with the intent to evoke sympathy, but to enable you to more effectively deal with similar issues should these occur in your personal life.

I Welcome The Opportunity To Start A Discussion With You