This is an interesting concept that many of my clients like and surprisingly, few people know about. If you have money sitting in a bank account earmarked as a legacy for your children/grandchildren you may indeed be able to increase the amount they inherit by as much as double.

How? Rather than just having the cash in the bank where it can be subject to probate, move it into a single premium life insurance policy. Moving $25,000 from the bank may generate as much as $40-50,000 in benefit for your loved ones. And you never lose access to your funds in the event of an emergency.

You need to be relatively healthy but even people with issues like high blood pressure, diabetes and other issues can qualify. And best of all, it’s a win-win for you and your family.