It is a well known fact that life insurance plays a vital role in one's financial planning and life strategy. It is considerably less well known that securing life insurance early in life offers significant fiscal rewards over the course of your lifetime.
The life insurance policies that we write throughout VA, MD, DC will produce significant positive impacts upon one’s life 10 to 30 years down the road. That is why if you are considering a truly impactful gift for a family member, seriously consider the gift of permanent life insurance? We know, doesn't sound sexy, right? But consider this. Securing life insurance for a sibling, spouse, parent, or significant other is paramount to giving a gift that continues to give. A permanent life insurance policy can provide your loved ones with more than death benefits. Cash value of life insurance is guaranteed as long as you are up to date in paying the required premiums. The cash value you pay each time grows on a tax-deferred bases and it can be accessed, usually income-tax-free, at any time in the insured person’s lifetime.
When making critical life decisions like life insurance strategies, it is always best to plan your life insurance needs with an independent agent. While it can build significant policy cash value over your loved one’s lifetime, it is imperative that you know the terms and conditions as well as your other coverage options so it will not feel like a burden paying it or you will not be paying what is only unnecessary.
To find out more about life insurance policies, contact TriState Business Insurance.