Life Insurance:
Life Insurance For Retirement
Should You Purchase Life Insurance For Retirement?
Does your family rely on you for money? It’s probably a good idea to look into getting life insurance for retirement. In addition to enjoying your retirement, you want to be able to leave your loved ones with an inheritance. Thankfully, one product can be used to achieve both of these goals. Depending on the kind of life insurance you choose, you can achieve this as well as a host of additional benefits.
There are numerous types of life insurance. Which type is most suited to your individual situation? Providing for your family is a crucial aspect of preparing for the future. Schedule a one-on-one meeting with us. We can discuss what the right type of life insurance for you may be, as well as other important topics when it comes to creating your retirement strategy. An indexed universal life (IUL) insurance policy may be of help to you.
Benefits of Life Insurance For Retirement
Using indexed universal life insurance for retirement has a number of benefits. Firstly, let’s discuss the features of these products that will help you during your retirement:
- The cash value of your insurance policy will remain protected, even in the event of a market downturn
- With an IUL, cash value growth is based on the performance of a market index
- The option to “lock in” what you accumulate
- Tax-free* growth, and tax-free* access to your principal & interest
- No fees or fines for accessing your cash value before age 59 1/2
- Immediate death benefit (avoiding probate court)
- Tax-free* death benefit payout
- Furthermore, the death benefit can be much greater than the premium paid
- It can also increase over time
- The death benefit can be received as a string of payments, or as one lump-sum