Having flexible money available when you need it is important. Permanent life insurance is often overlooked as a solution to grow assets and provide clients access to death benefits for living needs. The versatility of permanent solutions can provide:
1. Death benefit protection – which is generally income tax-free proceeds could help a family continue, or the funds may be used to pass on a legacy.*
2. Cash value growth – a vehicle to build long-term cash value to be used later in life.
3. Fund accessibly – with permanent life insurance offers cash surrender value that is available for immediate or unexpected needs.
The array of benefits provided in a permanent insurance solutions beyond death benefits are often unknown secrets to much of America’s middle-class. Positioning this strategy as a vehicle to save for retirement and provide the fund flexibility when life takes an unexpected turn is a way to introduce the solution.
Like any life insurance solution, be sure to conduct a thorough needs-based analysis and determine if death-benefit coverage is necessary first. Clients who can benefit from permanent insurance could include:
- Individuals between 50 and 80 years old.
- Those whose needs have changed and current certificates of deposit or savings may not meet their new needs.
- Individuals who recently inherited money.
- Individuals looking to convert non-qualified funds(1035 exchange)
Access an insider tip sheet, “Using Life Insurance for Your Client’s Smart Money” and consumer brochure for your next client meeting.
Call your CreativeOne Life Sales Team at 800.992.2642 to discuss a client’s needs and find the right solution to help save for retirement and beyond.
FOR PRODUCER USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC. 13907 – 2014/12/5
*Please advise your customers to consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements. IRS CIRCULAR 230 NOTICE Any U.S. tax information included in this written or electronic communication, including any attachments, is not intended as tax advice, was not intended or written to be used, and it cannot be used by you or any taxpayer, (i) for the purpose of avoiding any penalties that may be imposed on you or any other person under the Internal Revenue Code or applicable state or local tax law provisions, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.