Individuals and families, planning for either their future retirement years or their survivor's income needs in the event that a family "bread-winner" dies prematurely, can use a GPM Life software program specially designed for family planning needs. Called Family Benefits, the program analyzes a family's current assets including Social Security Benefits, projects them into the future using client chosen assumptions, taking both inflation and taxes into account, and develops an estimate of future income at retirement.
The program also analyzes those same current assets including any life insurance benefits as well as other income sources, and projects surviving spouse and children needs by comparing them to both cash and income objectives.
GPM Life's full product line can fill needs developed by Family Benefits. Both Life Insurance and Annuities can supplement retirement needs. Life Insurance can meet the requirements developed by the Survivors Needs Analysis.
Specific needs that often are best provided for through the tax-free benefits of life insurance policies include:
- Final Expenses
- Mortgage Cancellation
- Education Expenses
- Child Care Funds
- Spouse Income
- Charitable Gifts and Bequests