Forget what you’ve heard about Life Insurance!
These are the secrets of life insurance that you need to know for the sake of your family’s financial security.
The wealthiest Americans don’t live paycheck to paycheck, but they still have life insurance.
It may take time to sell assets and cover costs after a loved one passes away. Life insurance provides beneficiaries with cash they can use. A portion of your estate may be taxable – life insurance can shelter your family from extra taxes.
Life insurance can fund a buy/sell arrangement with a business partner in the event of your death.
It’s also a great option to replace income so you can maintain your standard of living.
Life insurance is a natural option to transfer wealth from one generation to another on a tax free basis.
Life insurance can help financially prepare you for long-term expenses during your lifetime.
If you experience a critical, chronic, or terminal illness, you can spend down your death benefit to help cover expenses instead of liquidating your assets to pay for adequate health care.
Your money is guaranteed to grow every year.
In fact, it moves forward regardless of how the market performs, which is a guarantee you won’t get anywhere else.
Change your policy as life changes for the best results.
Getting a promotion, buying a new home, getting married, or having children are all reasons to re-evaluate your insurance policy so that you can ensure you always have the coverage you need.