Up until recent years, Life Insurance has actually just been DEATH INSURANCE, meaning it only works after you are gone. That's great for your beneficiaries but what about an instrument that you can use and enjoy while you are alive?
More and more Financial Professionals are incorporating Life Insurance Policies into their overall financial outlooks and portfolios.
There are multiple strains of Life Insurance: Term Life, which is 'renters insurance', meaning it is not Permanent Insurance. There is Whole Life, Disability, Universal Life, and Long Term Care Insurance just to name a few. The one I like best for Permanent is Indexed Universal Life with a Long Term Care Rider.
IUL gives you death benefit protection while building up cash value "wealth accumulation" that, in time, you can borrow out as tax free money to be used for anything you want including college education for the kids or grandkids, tax free income in retirement, or take a cruise.
Understand when you do that, you will lower the death benefit but it is a way for you to enjoy Life Insurance while you are alive and well instead of just having Death Insurance that is only good after you are gone. It is indexed to a market that can grow with the market. It also has the option to take Long Term Care off the death benefit if you need it.
The field of 'Tax Free Money' is extremely limited but Indexed Universal Life can give you Tax Free money and also transfers to your beneficiaries Tax Free upon your death. Here is a simple question for you: Do you think Taxes are going to go up or down in the future? That is anyone's guess but you can protect your self in both cases with cash value Life Insurance. Understand that Life Insurance rates are based on your age and your current health and health history both on you and your parents. So, the younger you are and the healthier you are, the better your chances of getting the best rates out there. That doesn't mean you can't get Life Insurance later in life. You can, but every year you wait, your rates and risks are going to increase.
With the volatile economy, increased government spending and growing national debt it seems apparent the only way for the government to recover from this fiscal irresponsibility is to increase our taxes.
Life Insurance could be a way for you to protect yourself from those increased taxes for you and your family.
I can show you some options for protecting you and your family, lowering your taxes, increase your accumulation for retirement and be happy that you have money while you are alive and be content that you have taken care of your family after you are gone.
Allow me to show you WHY you should put some of your money into a solid Life Insurance Policy as protection and diversification of your financial strategy.
As always, any guarantees are based on the financial strength and claims-paying ability of the Insurance Company that issues the policy.