Meet Lisa. She's close to retirement and feels good about her savings and financial plan. She's looking for a smart way to increase her savings and decrease her tax burden, so she can do even more in retirement.
Her life insurance solution
As Lisa evaluates the right life insurance for her to provide the protection they need plus the growth opportunity they want, here's how she decided a permanent policy with potential for cash value growth was a good fit for her retirement portfolio:
- Since I've maxed out my company's retirement plan, life insurance adds more opportunities to potentially grow my retirement portfolio with tax advantages not available with traditional plans.
- I like knowing that I can access the cash value of my policy, without penalty and without income taxes, whenever I need it.1
- The income from this account won't count against me when I qualify for Medicare or Social Security.
- My policy gives me the opportunity to chose investments to help grow cash value. For now, I'm focused on growth, but as I grow older and my priorities shift, I may take a more balanced approach.
Investing for the future like Lisa?
The best solution will complement your other investments and help achieve your overarching goals, so you'll want to start the conversation by looking at your portfolio. Here are some questions to discuss with your financial professional:
- Am I doing everything I can to maximize the savings and investment opportunities in my retirement plan? Have I maxed out all my other savings vehicles?
- Do I have the right level of protection that allows me to adjust for emergencies, illness and unplanned expenses?
- How would adding an additional tax-advantaged investment shore up my retirement plan?
Adding life insurance to your financial plan can serve double duty, protecting your family's lifestyle and providing income potential for retirement or in the event of illness or major expense. Many new polices offer tax-deferred growth and tax-free withdrawals1.
What type is right for me?
The best option is the one that helps you meet your goals.
Take charge of your legacy
Build a tax-efficient estate plan with life insurance.
Get the most out of your life insurance policy
Life insurance is a powerful tool you can add to your retirement plan.