Michael Antonello on Blogger: What is Overfunded Life Insurance?

Thursday, August 8, 2019

What is Overfunded Life Insurance?

Dollar bills on the floor

Based in Saint Paul, Minnesota, Michael J. Antonello is a professional musician and a principal with Golden Valley Financial (gvfadvisors.com), a financial services organization. In his role at Golden Valley Financial, Michael J. Antonello oversees daily operations at the company, which offers a diverse range of products and services, including estate planning services and life insurance.

An overfunded life insurance policy offers some of the greatest advantages in a life insurance product, but is often misunderstood. Differing from other types of policies, an overfunded policy has a cash value portion that lends its value as an investment and doesn’t expire. A portion of the premiums paid on an overfunded life insurance policy is directed towards the death benefit, additional expenses of the policy, and an interest earning investment. This investment enables policyholders to collect tax-free income from the overfunded policy when needed.

Overfunded life insurance offers additional valuable benefits, including enabling the completion of investment goals if you are unable to work or become disabled; the opportunity to complete the program and provide economic advantages to loved ones; and having the choice to stop the program at any time.

About Michael Antonello

Guiding Golden Valley Financial Advisors, Michael J. Antonello leads a Minneapolis, Minnesota, firm that offers client-driven insurance solutions. Focused on successful business owners and professionals, Michael J. Antonello has particular experience in continuity planning that ensures that business interests are seamlessly passed on to family members and corporate partners.

Mr. Antonello assists clients in navigating complex transfer structures that include buy-sell agreements. In situations where only one offspring is taking over the company, equity fairness is a core issue that must often be addressed. He emphasizes that, in cases of a partner or business owner passing on prematurely, life insurance can be essential in ensuring fair buy out and compensation.

With a background that includes work as a musician, Michael J. Antonello achieved distinction for performance excellence on the violin while attending Interlochen Arts Academy. He subsequently attended the world-renowned Curtis Institute of Music in Philadelphia on a full scholarship, as well as the famed Indiana University School of Music. Subsequently, he joined the prestigious Minnesota violin ensemble “The Golden Strings”. Philanthropically focused, his large financial contributions have resulted in Minneapolis’ MacPhail Center for Music naming a music hall after him and his family.