life insurance
Life insurance isn’t just for supporting dependents, it can also be part of a long-term retirement strategy.
Life insurance policy is not always top of mind for you daily, but as you head into retirement it is something that you should have reviewed. Did you know that, aside from paying your beneficiaries upon your passing, there are other benefits to life insurance? As you near retirement, you should talk to us about how your policy could be used as a potential source of income in retirement to help maintain your lifestyle. The cash value within many types of permanent life insurance can grow over time and may be withdrawn as retirement income[1]. Provided the policy is not considered a Modified Endowment Contract, withdrawals or loans of your policy’s cash value are tax-free. We can work with you to help ensure this income is tax efficient.
[1] Policy loans and withdrawals will reduce available cash values and death benefits and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. Tax laws are subject to change. You should consult a tax professional.
additional services
To help maximize your wealth, your financial life — investments, taxes, insurance, retirement, and estate planning — must be wired together. We connect those different pieces into a cohesive financial landscape so you can unlock new ways to help build, grow, protect and preserve your wealth.
