by Iris Dalia Pantoja
September is ‘Life Insurance Awareness Month’. You already know how important life insurance is, but do you know how it works and all that you can do with it?
As you know life insurance’s main purpose is to help your loved ones with the financial burden they will have after losing you, but are you aware of the other benefits of life insurance?
Of course there are different types of life insurance products to cover people’s different needs and circumstances. That’s why finding the right product and life insurance carrier can be critical to your long-term financial success. I highly recommend working along side a life insurance licensed agent who would help guide you to the one that is right for you.
Well, as I mentioned earlier there are different types of products. Some are designed to only protect your loved ones in the tragic event they lost you. The protection could be for a pre-determined amount of time or for life. Other programs have additional features and benefits that when applied correctly could become a great addition when diversifying your portfolio. What do I mean? Life insurance can also be used when planning for your retirement.
Like I mentioned before, a life insurance death benefit is traditionally used to protect family members against unexpected death. However, reports suggest that a growing concern for many is the fear of outliving their funds in their retirement years. For that reason consider what some life insurance products can offer you. The following are some of the features and benefits of some products:
- Tax Free Death Benefit
- Tax Deferred Earning
- Tax Free Loans & Withdrawals
- Tax Free Transfers
- Flexible Premium Payments
- No Lapse Guarantee
- Long Term Care Protection
Remember, when planned correctly and used well, life insurance products can do more; it can also be used as a living benefit as well.
For this and so many reasons I highly recommend that you consider looking into the many benefits of life insurance. Don’t do it alone, and don’t Google it! This will be one of the many important decisions you’ll ever make.
Whether you are looking into life insurance or any other type of insurance coverage like home/auto, you can always give us a call at Rothenberger Insurance Services, contact us here, or stop by to see us. We are here for you to help you and yours protect what matters most!
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