Life insurance is the most effective way to mitigate the consequences to your family of an untimely death during your working years, protecting your family’s lifestyle and future. The the cash value in a permanent whole life insurance policy can be accessed via policy loans or dividend withdrawals* to help you supplement your retirement income when your protection needs decrease. This cash value can also be accessed for other major life events and can play an important part in business succession or charitable giving plans.
For a more detailed discussion of the costs and type of life insurance please check out these posts:
How much does life insurance cost?
What’s the difference between term and whole life
Life insurance can be a complicated topic but once you know what questions you should be asking as well as the common components of an insurance policy you’ll know how to get the right coverage for your family. Please contact us to get more information or a customized quote.
Accessing cash value will reduce the available cash surrender value and death benefit. Loans against your policy accrue interest and decrease the death benefit and available cash surrender value by the amount of the outstanding loan and interest.
