Life Insurance for Peace of Mind

Insurance Marketing / Thursday, October 11th, 2018

Most of us don’t want to think about catastrophe striking, but we also know that its important to plan for the future in a way that will keep our families safe. If you are thinking about life insurance and how to help your family, there are options that can help to give you the peace of mind that comes from planning ahead.

Whole Life Insurance

There are many different types of life insurance that you may be considering. A whole life policy offers numerous benefits, including:

  • savings component
  • life-long coverage
  • access to emergency funds

As the name implies, a whole life policy is valid throughout your life as long as the premiums are up-to-date. This type of coverage accrues value over the life of the policy, which gives it a cash value. In the event of an emergency or crisis, you may be able to withdraw funds or borrow against your policy should the need arise

Premiums on a whole life policy are not deductible, but beneficiaries of the death benefit of the policy are generally exempt from any federal income taxes on that money. Additional interest earned beyond the death benefit, however, may be taxable.

If you are thinking of life insurance, and how to help your family should disaster strike, its best to speak with a qualified insurance agent who can help you to find the policy that will best meet your needs.