Retirement - Life insurance as a Financial Tool
In retirement, you will want to sustain your current lifestyle, continue protecting your family and begin using your accumulated assets for a comfortable retirement. By creating a tax-diversified asset mix and using a tax-preferred tool like permanent life insurance, you will have the ability to design a tax-favorable distribution strategy during your retirement years.
Learn how you can use permanent life insurance with other financial tools to help minimize taxes and maximize your retirement income
Life insurance products contain fees, such as mortality and expense charges, and may contain restrictions, such as surrender periods. Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender, and will reduce both the surrender value and death benefit. You/Clients should consult your/their tax advisor when considering taking a policy loan.
This information may contain a general discussion of the relevant federal tax laws. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. This information is provided to support the promotion or marketing of ideas that may benefit a taxpayer. Taxpayers should seek the advice of their own tax and legal advisors regarding any tax and legal issues applicable to their specific circumstances.