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Life Insurance
It isn’t just about you anymore, it is about your responsibilities and knowing that your family is secure in your care
There are various types of Life insurance but they all have some common attributes. You pay an insurance company what are called premiums. At your death, the Life insurance company pays an amount to the people you named in your policy, called beneficiaries. Also, it's interesting that if you named a beneficiary(ies) they'd receive the insurance amount free of income tax.
Some types of Life insurance have cash benefits available while you're living. In these types, a portion of your premium goes into a cash reserve and builds on a tax deferred basis. You can access this money, called cash value. Some people use it to help education costs, enhance retirement cash flow or for any reason. Two of the most common types of permanent Life insurance are called whole Life insurance and universal Life insurance.
By looking into this area, you are making an intelligent and caring financial decision for your family. It is important that you have Life insurance and have enough to protect those you care about. Get the insurance you should have.