Life insurance is important for the estate plan, it provides the organization as a support in the education, coverage of expenses, in the payment of expenses, liquidity in case of death, and sometimes it helps in the retirement plans through the help of funds. The small amount of insurance that is two million dollar is required for the small estates. However, the owner of the policy must give the beneficiaries of the insurance policies to its clients. Life insurance is said to be the important components for the company with more than the 2 million dollar assets. There are two types of the insurance policy exist in the life insurance. They are first to die life insurance policy and the survivorship life insurance policy. While, estate planning is said to be the process which is used for anticipating and arranging the disposal of the real estate in the organization during the life time (Pauly et. al, 1999, 28-44).
Estate planning helps the organization in eliminating the uncertainties from the environment especially in the administration and maximizing the the estate value. This is done through the help of reducing the taxes and other expenses of the assets. Retirement planning is used for the allocation of the finances in the retirement. The most important goal of the retirement planning is that it provides the financial benefits to the employees in case of the retirement. The present study is about the Gina's insurance planning, estate planning and the retirement planning, calculation of these type of planning and the pros and cons of the types of estate planning (Pauly et. al, 1999, 28-44).
Insurance planning is said to be the part of the life insurance that is used for various purposes. The various purposes of the insurance planning are the safety of the car, home, life of human being and person's assets. Insurance planning is define as the process which is used for analyzing and examining the various types of the insurance in order to protect the person's assets and also it is the process which is used for creating the assets (Schoen and Des, 2000, 187).
Pros of the Insurance Planning
The various advantages of the Gina's insurance planning are cover of risk and cost, long term planning for life, protection of the health expenditures, safe use of long term investment, various tax benefits, loans facility to the individual and organization and the protection of life through the help of the long term savings (Schoen and Des, 2000, 187).
As today's life is full of uncertainties so therefore insurance policy is required in order to cover the safety of the life and to enjoy the quality of life through the use of safety against unforeseen environment.
The insurance policy provides the expenditure of health occurred in the overall life. The health insurance policy provides the safety to the human being from the critical diseases and from the expenses of ...