Most Americans view life insurance as a means to ensure their final expenses will be covered after they’re gone. However, life insurance policies can provide much more than death benefits. When you choose the right life insurance plan, you and your family can enjoy the financial benefits throughout your lifetime.
At Americans for Life, we believe life insurance is one of the most underutilized and powerful investment tools available to you. We also recognize that it can be difficult navigating all the policy options on the market, which is why we want to serve as your life insurance advisor. We’re an independent firm, which means we’ll help you find your best life insurance option at the best price rather than pushing you towards one specific insurance carrier.
If you’ve always believed that life insurance can only be used to transfer wealth to your heirs, it’s time for you to have a policy review. Take advantage of our life insurance services and find out about the cash value benefits you can get from your policy.
Types of Life Insurance
There are several different types of life insurance available to you, including term and permanent policies.
A term policy is a contract between you and an insurance provider that will transfer a death benefit to your heirs within a period defined by the policy (usually 5-30 years). Choosing this type of life insurance is a lot like renting instead of buying a home: it has a lower upfront cost than permanent life insurance but doesn’t come with any additional cash value advantages.
A permanent policy covers you for your entire life, not just a specified period. It can also be a unique vehicle for tax-free account value accumulation. When you add cash value features to your policy, you can grow money in your account, access the money tax-free during your lifetime, and transfer your tax-free income to your family after you die.
Money in your account won’t preclude you from getting loans and doesn’t need to be included on FAFSA forms. You can also use this money to help grow your business, support your family’s needs, or supplement your retirement income.
You’ll find various life insurance policy types under the umbrella of permanent life insurance, including:
Indexed Universal Life
Attempting to conduct an online comparison of life insurance types can be challenging, especially if you’re new to the concept of cash value benefits. It’s always best to meet with a qualified life insurance advisor in person so that you can ask questions and get a better understanding of how your policy will affect you long-term.
Choose the Right Policy with Americans for Life
Whether you’re completely new to life insurance plans or you’re wondering how to update your current policy to maximize its benefits, we want to meet with you. Americans for Life offers life insurance consulting services for investors at every stage, from those just starting to accumulate assets to those who are nearing retirement. Call us at (860) 222-0976, email Mike@americansforlife.com, or fill out our contact form to find out more about our life insurance services. We look forward to helping you make smart and secure investment decisions.