Personal planning
Customized strategies for families and loved ones
Every family’s plan is different. SRS helps advisors, and individuals directly, match the right life insurance to each goal: replacing income, clearing debt, covering final costs, building tax-advantaged savings and paying for college.
Our carrier partners
60+ top-rated carriers
The market knowledge to know which one fits your client.
In short: personal life insurance planning starts with one question: what would your family need if you weren’t here? The answer usually combines income replacement, debt payoff, final expenses and long-term goals like retirement or college, and the right mix of term and permanent coverage covers them efficiently.
Protect the paycheck
Income replacement
If a family depends on your income, life insurance replaces it so they can keep the home, stay on track with savings and maintain their lifestyle.
- Needs are usually calculated from income, years of support needed, debts and existing savings.
- Stay-at-home parents need coverage too; replacing their work is expensive.
- While you are alive, disability insurance protects the same paycheck.
Clear what you owe
Debt protection
Life insurance can pay off a mortgage, business loan or other debt so it does not fall on your family or partners.
- Term life matched to the length of the loan is usually the most affordable fit.
- Lenders, including many SBA lenders, may require life insurance with a collateral assignment.
- Disability coverage keeps loan payments going if you can’t work.
Cover the final costs
Final expense
Final expense insurance is a smaller whole life policy that pays for a funeral, burial and final bills, so loved ones don’t have to dip into savings.
- Simplified issue plans ask a few health questions; guaranteed issue plans ask none.
- Premiums stay level and coverage lasts for life.
Guides and case studies
Take care of heirs
Estate planning
Even modest estates benefit from a plan: a will, powers of attorney and the right beneficiary designations, with life insurance to leave a clear, fair inheritance.
- Name beneficiaries carefully; minors can’t receive proceeds directly.
- Life insurance can equalize inheritances or fund a special needs trust.
Save with tax advantages
Life insurance retirement planning
A properly funded permanent policy, such as indexed universal life or whole life, builds cash value that grows tax deferred and can be accessed through withdrawals and policy loans in retirement, while keeping a death benefit in place.
- Policies must be designed to stay under modified endowment (MEC) limits to keep tax-advantaged access.
- Loans and withdrawals reduce the death benefit, and a lapse with loans outstanding can create taxable income, so design and monitoring matter.
- Often used alongside, not instead of, 401(k)s and IRAs.
Plan for tuition
College funding
Life insurance helps with college two ways: it guarantees the plan is funded if a parent dies, and cash value can be a flexible source of tuition money.
- Cash value life insurance and annuities are generally not reported as assets on the FAFSA, which can help financial aid eligibility.
- Policy loans can pay tuition without the restrictions of a 529 plan, though they reduce cash value and death benefit if not repaid.
Guides and case studies
Is cash value life insurance right for you?
Who buys it, and who it’s not for
People rarely buy a policy for its own sake. They buy it to solve a problem they already have. These are the situations where a well-funded indexed universal life or whole life policy most often fits.
Grandparents helping grandkids
A grandparent owns and pays for a policy on a grandchild. The policy has decades to grow, the grandchild keeps lifelong coverage, and the cash value can later help with college, a first home or a business.
Parents saving for a child
Cash value can help with college, a wedding or a down payment, with no penalty if the child never goes to college (a 529 plan taxes and penalizes earnings used for other purposes). It is generally not reported as an asset on the FAFSA.
High earners with maxed-out plans
There are no IRS income limits or contribution caps like those on a Roth IRA or 401(k). Growth is tax deferred, and money can be reached through withdrawals and policy loans.
Pre-retirees worried about a market drop
An indexed policy credits interest based on a market index, with a floor that keeps credited interest from going below zero. Policy charges still apply.
Retirees watching taxes
Policy loans from a properly designed policy that stays in force are not taxable income, so they generally don’t add to the income used to tax Social Security benefits or set Medicare IRMAA premiums.
Retirees with RMDs they don’t need
Some retirees use after-tax required distributions to pay premiums, turning money they plan to leave to family into a larger, income-tax-free death benefit.
Families who want protection and savings
One policy provides a death benefit now, cash value over time, and optional riders that can advance part of the benefit if you become chronically or critically ill.
Who it’s usually not for
- Anyone who may need the money back in the first 10 to 15 years. Surrender charges and policy costs are highest early.
- Anyone who can’t fund it consistently. An underfunded policy can lapse, and a lapse with loans outstanding can create a tax bill.
- Anyone looking only for investment returns. This is life insurance first. Illustrations are not guarantees, and cap and participation rates can change.
General information, not tax or legal advice. Tax treatment depends on proper policy design and current law. Talk with your tax advisor about your situation. Financial professionals: get our free one-pager on why clients buy accumulation IUL.
Recent case results
Families we have helped
Pre-diabetes
Better-than-standard rates for a client with impaired fasting glucose.
Read the case →Parkinson’s disease
Term coverage at Standard with a Parkinson’s diagnosis.
Read the case →Case results describe past placements and are not a guarantee of future offers.
Who you’ll work with
Tim Fuller
President, SRS Inc. · Littleton, Colorado
SRS has helped advisors place life, disability, long-term care and annuity cases for more than 50 years, with a focus on impaired risk underwriting and advanced planning. When you send a case, you work directly with our team, not a call center.
Get help with a case
Two ways to start
Individuals and families can talk directly with Tim Fuller. Advisors get quotes, illustrations and underwriting help.
For advisors
Send us your case
Tell us about the client’s family, income, debts and goals. We will recommend a design and shop the carriers.
Need numbers now? Submit a life quote request or call 303-309-3471.
For individuals and families
Talk to Tim
Not sure how much coverage you need or which type fits? Tim will walk you through it and compare carriers for you. No cost, no pressure.
Or call 303-309-3471
FAQ
Personal planning questions
How much life insurance do I need?
A common starting point is enough to replace your income for the years your family would need it, plus debts, final expenses and goals like college. A needs analysis gives a more precise number.
Should I buy term or permanent life insurance?
Term is the most affordable way to cover needs that end, like a mortgage or raising children. Permanent coverage lasts for life and builds cash value, which helps with final expenses, estate planning and retirement savings. Many families use both.
Can life insurance help pay for retirement?
Yes. A properly designed permanent policy builds cash value that can be accessed through withdrawals and loans, generally without income tax if the policy is not a modified endowment contract and stays in force.
Does life insurance affect financial aid for college?
Cash value life insurance is generally not counted as an asset on the FAFSA, unlike savings and brokerage accounts.
Who is indexed universal life a good fit for?
It tends to fit people with a long time horizon, steady money to fund it, and a real need for life insurance, such as high earners who have maxed out other plans, pre-retirees who want downside protection on credited interest, and grandparents or parents saving for a child. It is usually not a fit for money you may need in the next 10 to 15 years.
Can grandparents buy life insurance on a grandchild?
Yes. In most states a grandparent can own and pay for a policy on a grandchild, usually with a parent’s signature. Carriers limit how much coverage a child can have, often based on the parents’ own coverage. Ownership can be transferred to the grandchild later, which counts as a gift, so check with a tax advisor.
This page is general information for financial professionals, not tax or legal advice. Tax treatment depends on individual facts; clients should consult their tax and legal advisors. Reviewed by Tim Fuller, President of SRS Inc.
See also: Life insurance · Business planning · Advanced planning · Personal planning · Impaired risk underwriting