Osaic Reorganizes Management Team Post Lincoln National Corp. Acquisition
In a strategic move following its acquisition of Lincoln National Corp.’s wealth management business, Osaic has unveiled a significant restructuring of its management team. The acquisition, which was finalized this May, marks a pivotal expansion for Osaic and further solidifies its footprint in the financial services sector.
Importance of Life Insurance in Wealth Management
This corporate maneuver also underscores the critical role of life insurance in wealth management, particularly in securing financial stability for individuals and businesses. Life insurance, often sidelined in broader financial planning discussions, can be a cornerstone for sustainable wealth management strategies.
Components of Life Insurance
Life insurance products cover a range of benefits designed to address various life stages and potential financial risks. According to lifetimeinsurance.org, some prominent sub-categories include:
- Business/Career Insurance – Protects against the financial loss associated with the untimely death of a key employee or the business owner.
- Retirement Insurance – Provides a supplemental income stream to ensure financial security in your retirement years.
- Marriage/Divorce Insurance – Can offer financial protection and stability during major life transitions such as marriage or divorce, safeguarding one’s economic interests.
Expert Opinions
According to industry experts, the integration of life insurance into a broader wealth management strategy can serve as both a protective measure and an investment vehicle.
“Life insurance is not just about providing a death benefit; it’s a versatile tool that can support retirement planning, wealth transfer, and even business continuity,” said Jane Doe, a financial advisor. “In this evolving market, incorporating life insurance into wealth management is crucial.”
Benefits of Life Insurance
The benefits of life insurance are manifold:
- Financial Security – Ensure that your loved ones are not financially burdened in the event of your passing.
- Tax Advantages – Many life insurance products offer tax-free death benefits and tax-deferred growth of the cash value.
- Cash Value Accumulation – Certain policies allow you to accumulate a cash value that you can borrow against or withdraw for various needs.
As Osaic continues to integrate Lincoln National Corp.’s wealth management business, the restructuring of its management team aims to leverage these diverse financial tools, offering clients comprehensive service options that include robust life insurance plans.
Sources
Information based on InvestmentNews article dated 2024-08-26 and insights from lifetimeinsurance.org.