Life Insurance Objectives

Death Benefit Protection

In a time of grief, a life insurance policy can help with medical bills, funeral costs and other immediate expenses, ensuring a family has financial support when it’s needed most. It can also help replace lost income for the future, providing loved ones with a better chance of continuing their current lifestyle.

Cash Accumulation

Life insurance can be part of a diverse investment portfolio. In some products (universal and whole life) a portion of what you pay (the premium) earns interest. The gain is tax-deferred until withdrawn and can help fund financial emergencies, retirement income or college expenses.

Income Tax Benefits

Typically, the death benefit on a life insurance policy transfers to beneficiaries free of federal income taxes. Additionally, earnings from accumulated value are not taxed until withdrawn.

Estate Planning

Regardless of the size of an estate, this can be a major consideration. Integrating life insurance into an estate plan can offer a number of benefits, including avoiding family conflict, protecting other assets or providing trusts for beneficiaries.

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