Permanent life insurance: |
the missing tool in your financial toolbox.As you prepare for retirement, you’re probably concerned about protecting the value of your assets, retiring comfortably and leaving a legacy for your family. Many people think preparing for retirement involves saving as much money as possible and investing it wisely by diversifying.1 However, in addition to diversifying investments, smart retirement savers also consider how taxes will affect their retirement dollars. Preparing for the future By accumulating cash value in a permanent life insurance policy, you can build an “opportunity reserve” for future priorities, including: • Starting a business • Funding college education • Living comfortably in retirement • Capitalizing on financial opportunities There are many ways to save for retirement and withdraw retirement income. Working with a financial professional can help you determine which financial tools will best suit your needs during each phase of life: • Accumulation — saving and growing assets during your working years • Distribution — using your assets for retirement income • Legacy — maximizing assets and preparing them for transfer to beneficiaries upon your death As you discuss your options with your financial professional, consider their contribution, accumulation and distribution tax characteristics. Contribution and tax characteristics of retirement assets   Using life insurance as a financial tool Permanent life insurance may be a key tool that’s missing from your financial toolbox. It’s so much more than a tax-free death benefit for your loved ones. The benefits of building life insurance into your retirement strategy Permanent life insurance can also help you: Protect your hard-earned assets The income-tax-free death benefit financially protects your family or beneficiaries. Build wealth — without the drag of annual taxation Tax-deferred accumulation allows policy cash values to grow faster than they would in a taxable account. Provide a source of tax-free supplemental retirement income You can access cash value through tax-free loans and withdrawals, provided the policy is not a Modified Endowment Contract (MEC).  Give your assets a LIFT You may not have considered permanent life insurance as a financial tool, but it can provide your family with an asset that can help keep their dreams and aspirations alive, both during your life and upon your passing. Whether you’re in the accumulation, distribution or legacy phase of your life, contact your financial professional to learn about financial tools that can help minimize taxes and maximize your assets. At Securian Financial, we’re here for family. And we’re here because of it. Family doesn’t have to branch from your tree, but it always shares your roots. Roots woven by common understanding, shared values and mutual respect. Those who believe a rewarding life is really about being present in the here and now, and that your financial picture should support the everyday moments as much as the major milestones. That’s why our insurance, investment and retirement solutions give you the confidence to focus on what’s truly valuable: banking memories with those who matter most. |
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