Building a Financial Safety Net for Life’s Unexpected Moments
In my last article, I mentioned my friend, John, whose brain cancer came back with a vengeance in 2024 after 9 years in remission. Sadly, we just attended his memorial service a month ago. We miss him dearly and are still dealing with our grief. There’s currently a GoFundMe for his 11-year-old son, and the last time I checked, they raised only a few thousand dollars. GoFundMe is not enough to provide long-term security and financial protection for you and your family. You are also dependent on the generosity of those you may or may not know.
Are you in your 20s and wise enough to start saving for your future now? Are you married, or getting married? Do you have children? Do you own your house? Are you going through major life changes like divorce, death of a loved one? Are you planning for your child’s future education fund? Are you nearing retirement and need long-term care? If your answer to any of these questions is yes, please give me a call.
There’s a saying that 2 things are certain in life: death and taxes. Life Insurance protects you in both of these certainties in life. The question is, do you want to be taxed now, later, or do you want to take advantage of the IRS tax code 7702?
IRS Section 7702 is the primary tax code that defines a legal life insurance contract and provides for tax-advantaged status, ensuring that cash value growth is tax-deferred and death benefits are generally tax-free. Policies must meet strict, ongoing tests (Cash Value Accumulation Test or Guideline Premium and Corridor Test) to maintain this status.
My name is Patty Campbell (Lic# 0G35070), your local Life Insurance and Financial Fitness Coach with FinFit Life. We reward our clients for living a healthy lifestyle by earning points. FinFit Life’s motto is “Financial Fitness with the Life to enjoy it!” Our Vitality Program offers a range of benefits, including gift cards, discounts on monthly premiums, pre-cancer screenings, Prenuvo body scans, Apple Watches, and Fitbits to help you track your health and daily steps.
Can you imagine using your health savings card at the grocery store and paying only $20 on a $60 grocery bill? Ask me how!
I am here to assist with all your life insurance needs. When you think of protecting you and your family with Life Insurance, think of me. I would be happy to offer a free consultation. Just call 415-377-1107. I look forward to connecting with you soon.
