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Don’t let debt be your legacy.

How do you manage some of life’s most common and significant financial commitments? The purchase of a home or car, college tuition, weddings and vacation are just a few of the things that can place a strain on your finances.  So you plan.  You save and perhaps take out loans as necessary.

For many Americans, debt is a natural part of living.  Unfortunately, it can also be a significant part of dying.  Final expenses, which can include funeral services and burial, as well as outstanding loans and medical bills, can leave loved ones burdened with unexpected and substantial debt.

You can help your loved ones avoid this burden by providing and protecting your final expense resources.  A strategy incorporating life insurance within a properly structured funeral trust can help you achieve this security easily and efficiently.  Don’t worry – trusts don’t’ have to be complex, and they are not just for the wealthy.  A trust can be an effective planning tool for just about anyone, and life insurance provides a cost-effective funding option.

 

Trust in your plan – a spend-down strategy that keeps up with objectives

This strategy not only helps to provide your loved ones relief from your final expenses at death, it also offers you a planning tool in life.  Assets in this strategy will typically be inaccessible to creditors such as hospitals and nursing homes and excluded from Medicaid limits.*

Forethought TrustGuard is a whole life insurance policy designed to be combined with a Forethought® Trust PlanSM to provide you with a comprehensive solution for your end-of-life needs.  Forethought TrustGuard offers lower face amount limits than most permanent life insurance products, plus there are no additional fees for trust setup and maintenance.  By irrevocably assigning ownership of the policy to a Forethought Trust Plan, you typically get the extra protection that comes with creating a funeral trust.  The assets may:

  • Not be countable toward asset limits when applying for Medicaid.*
  • Not be accessible for creditors.
  • Avoid probate delays when used for funeral expenses

Final expense planning helps you ensure that loved ones are not given a financial burden to bear along with an emotional one at their time of grief.  You can rest easy, knowing that you have created a legacy of love, not debt.

For more information on protecting your assets with Forethought TrustGuard, please contact ask.us@forethought.com.

*Medicaid rules vary by state.  You should always consult an elder-law attorney on your state’s specific rules pertaining to funeral trusts.  The ability to qualify for a state and/or federal public assistance program is NOT guaranteed.  The applicant’s individual circumstances at the time of application for government assistance will, in part, determine whether or not the policy will count as a resource.  The judgment of the case worker handling the application will also be a factor.

 
 

Life insurance and annuity products are issued by Forethought Life Insurance Company.

Products are subject to state availability.

Texas consumers visit www.prepaidfunerals.texas.gov for more information.