The Secret Of Life Insurance In Retirement
Life insurance can offer you more than your insurance agent agent may have told you about. Keep that in mind when you make that dreaded premium payment every month. If used correctly a life insurance policy can be a valuable asset when you reach retirement.
Insurance And Retirement
With the right type of life insurance policy all of the money that you invest into the policy can be working for you from the first day you take the policy out. With a cash value life insurance policy your money grows tax-deferred. What that means for you is that all of your money in the policy gets to accumulate and compound.
When You Get There
When you reach retirement you can supplement your other retirement income by withdrawing from the cash value that you built up in your life insurance policy. The face amount of the policy can remain as the death benefit in the event something happens to you. Some life policies even allow you to add on long-term care coverage. Check that out with your agent.
Life insurance can become a win-win for everyone. You supplement your retirement income and your beneficiaries are paid off in the event of your death.
Learn about other ways to use life insurance for your retirement needs, call your insurance agent.