Uncovering Life & LTC Insurance Needs through Form 1040

Tax returns can offer insight into clients’ financial planning needs, including life insurance and long-term care

In general, tax returns show gross income, adjusted gross income, and taxable income. However, a detailed review of a tax return can lead to important and powerful conversations about: 

• Income replacement
• Retirement savings
• Estate and legacy planning
• Intergenerational wealth
• Business planning needs

Additionally, comparing last year’s tax return to this year’s return can shed light on planning opportunities due to life changes.