If you are saving for retirement, chances are you already have an IRA, a 401(k) plan, and other well-known kinds of investments. But at The Washwick Agency, serving Bethlehem, NH, and all of New Hampshire, we encourage all of our customers to consider adding life insurance to their retirement portfolio.
Specifically, we recommend cash-value life insurance as a retirement investment.
Why Consider Life Insurance for Retirement Planning?
Cash-value life insurance helps you accumulate investment earnings without paying taxes before withdrawing from your policy.
Whole life and universal life policies contain both an insurance element, that is, they help protect your loved ones in the event of your premature death, and an investment element, earning money on the portion of your premiums in excess of the cost of insurance.
The value of these policies increases the longer you keep paying your premiums. After two years, you can take out a loan against the cash value of your policy that you do not have to pay back (although it will reduce the value of your death benefit if you don’t). You can surrender your policy for its entire value, or, in some situations, you can take out a policy with an option for paid-up premiums for lifetime coverage.
You can choose the investments you want for universal variable life, gaining the opportunity for greater earnings tied to a market index.
Life insurance can be a way to transfer wealth between generations without gift tax or inheritance duties.
Discuss Your Options with Us
Come in and talk with your agent at The Washwick Agency, serving Bethlehem, NH, and all of New Hampshire, about your options for life insurance investments for your retirement security. See how we help you have enough money to retire by protecting your asset growth from taxation while protecting your family’s security.
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