Insurance protection — and life insurance in particular — is a cornerstone of any complete financial strategy. It rounds out other areas, like cash reserves, retirement accounts, and stocks. Life insurance can help you:
Maintain financial security and protect those most important to you. You can have the added confidence that comes from knowing that you have helped to protect your family against financial hardship if you are no longer there to help provide for them.
Transfer your money to whom you want, when you want, the way you want. Once you’ve assigned your beneficiaries, you know they’ll receive the payment.
Transfer your assets income-tax free and avoid probate. Your beneficiaries pay no income taxes and, in some cases, no estate taxes on your life insurance death benefits. Plus, many plans also let you accumulate tax-deferred dollars (assuming the policy does not lapse).
Make charitable donations to an accredited organization of your choice. You can make a contribution to a group you care about and whose mission you want to support. With policies that include A Charitable Giving Benefit, you can do so at no additional cost to you or your beneficiaries.
Preserve your wealth. Certain types of life insurance help you plan for your lifetime needs without concerns about stock market fluctuations. Such plans can help you add diversity to your financial plan and moderate your risk as an investor.
Build cash value for future use.* Some life insurance offers the opportunity to build cash value. You can use the cash value for emergencies or future goals, such as education funding and retirement income. So you have an additional source of funds when you need it most.
The information contained in this website is not to be construed as legal, investment or tax advice. If this type of information is desired, the services of a competent Attorney, Insurance Agent, Investment Advisor or CPA, licensed in good standing with the State in which you reside, should be consulted.