What is an irrevocable life insurance trust?
These legal entities contain one or more life insurance policies and are used when estate planning. Primarily used for high-net-worth individuals, they are designed to pass along wealth to future generations.
Who should consider an irrevocable life insurance trust?
While not for everyone, there are a number of situations where using an irrevocable life insurance trust can be beneficial.
- Net worth of 12M+
- 50% or more of net worth is business interests
- 50% of more of net worth is real estate holdings
- Stock portfolio that has significant unrealized gains
- Passing down illiquid assets to future generations
- Exhausted lifetime gifting exclusions
- Net worth that is growing throughout retirement
Benefits of an irrevocable life insurance trust
Paying estate/death taxes with insurance proceeds can reduce the need for heirs to sell illiquid assets.
Pass wealth to the next generation while maintaining some control over access to those assets.
Paying insurance premiums for a death benefit keeps cash in your control.
Why Blue Herring?
We expect more from the life and disability insurance industry. So should you. Our fiduciary- and attorney-preferred independent underwriting model gives businesses the transparency and leverage they need to get the right policies for their key person insurance plans, at significantly lower prices.
- We comparison-shop real prices for your company’s key person insurance policies — not quotes based on incomplete information.
- We tell you everything you need to make the best decision, and we’ll share industry secrets you should know before you buy.
- We operate as a team with companies looking for the best key person insurance policies at the best price.
Meet your match.
Our extensive network of small, large, mutual, and public carriers positions us to find the best policy at the best price.
How to get started
Blue Herring is revolutionizing insurance sales with an unbiased, independent underwriting model that saves your company money.
Don’t take our word for it
Hear from the clients who’ve experienced the Blue Herring difference.