Permanent Life Insurance
Permanent Life Insurance — An Asset for all Your Life Stages
Permanent life insurance products are designed to provide protection while building cash value. Borrowing from the cash value gives you the opportunity to help meet future goals. When permanent life insurance is the central part of a sound financial plan, it provides protection plus cash value that can help people do more throughout their lives. Read below to learn more about these possibilities of permanent life insurance.
Money When You Need It
Permanent life insurance can build cash value to help you and your family achieve a world of possibilities. For instance, you could use your policy to:
- Pay for your or a loved one's education
- Ensure your child's wedding day is special
- Start or expand a business
- Take a work sabbatical to travel or write your memoirs
- Provide for a comfortable retirement
As you discover what’s possible, here are a few things you may be surprised to learn about permanent life insurance:
- It is the center of a sound, well-rounded financial plan
- Cash value increases on a tax-deferred basis and can be withdrawn income-tax-free in most cases
- You can take a loan from your policy to use for any purpose
- In most states, cash value in a life insurance policy is protected from creditors
Security and Stability for the Unexpected
If you were to die early or suffer from a long-term illness or disability, it could spell financial disaster for your family. Permanent life guarantees an income-tax-free payment to the beneficiary(ies) of the insured person after the death. In addition to being income-tax-free, if properly structured in a trust, permanent life insurance may also be free from federal estate tax.
Simple and Full of Possibilities
The bottom line on permanent life insurance is that it can provide for life's possibilities while protecting your loved ones against life's realities. We believe it’s the most responsible and rewarding financial action a person can take.