Life Insurance is no longer just for your passing.
Today’s use of Life Insurance in retirement planning has been greatly expanded over the years. Today’s plans can provide so many living benefits, that they have become crucial to your estate.
A few ideas.
What do you typically have in your life today?
Spouse, Children and Grandchildren. Also Investments such as a 401K, IRA and other investments that generate 1099’s. ( 1099’s are taxable) Mortgages, 2nd home, spending for the grandchildren, Travel for you and your spouse. The list goes on, but you realize that there are many things that need protection within your life.
Life Insurance, designed properly can provide you with a Tax Free Income to cover emergencies, without endangering the policy itself. Life Insurance provides your family money that is TAX FREE to cover the expenses of one’s passing. Coverage for any Estate Taxes that may occur. Also providing Tax Free income to reduce your Taxable Income, without lowering your actual income.