In a period of economic uncertainty and continued financial market turbulence, Boston-based insurance giant Liberty Mutual has released an enhanced version of its flagship wealth transfer product, the Liberty Series Estate Maximizer, that can not only help repair and restore some of the asset value loss that investors have experienced, but also help them leave increased legacies to their families.
The product, whose target market are those aged 50 and above, is well suited for wealth transfer because its single premium immediately purchases a death benefit that is larger than the original payment, thereby resulting in an enhanced legacy that passes to beneficiaries income tax free, under current law, says Richard Hotham, VP of financial institutions for Liberty Life Assurance Company of Boston, the insurance and annuity arm of Liberty Mutual.
"Customers are steeped in responsibility and they appreciate products that can make them more responsible," he says. "Banks and financial reps also appreciate products that can help them help their clients."
