Life Insurance

There are a number of different types of life insurance for you to choose from. We can help you find the right option for retirement.

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Should I Have Life Insurance in Retirement?

Choosing the right life insurance in retirement is vitally important. With the right policy, you may be able to retire tax-free.* How is this done? Reach out to us to learn more.

How Does Life Insurance in Retirement Work?

People often overlook the importance of life insurance in retirement. Most people only know the basic purpose of life insurance: It provides a death benefit to your beneficiaries. A lot of people are unaware that you can actually use life insurance to provide yourself with income while you are still alive.

Furthermore, some life insurance products may be able to provide you with tax-free* income. This is because insurance products don’t apply to the same tax rules that traditional retirement accounts do. Life insurance might, in general, present you with more flexibility compared to other retirement options.

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Should You Have
Life Insurance in Retirement?

senior couple hugging and smiling in park should i have life insurance in retirement safe harbor associates llc

There are a number of different types of life insurance for you to choose from.

One option, indexed universal life (IUL) insurance, can potentially provide you with more flexibility than other types.

Now, an IUL is not necessarily appropriate for all retirees. There may be better options for you, depending on your individual needs in retirement. But, an IUL may be the perfect choice for you.

An IUL is an excellent tax-free* alternative option for retirement, if any of the following situations apply to you, reach out to us.

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Reach out to Safe Harbor Associates, to schedule a one-on-one appointment, or attend a no-cost, no-obligation informational seminar. We can help you find the right life insurance option for retirement.

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*Proceeds from an insurance policy are generally income-tax-free, and if properly structured, may also be free from estate tax. Income-tax-free distributions are achieved by withdrawing to the cost basis (premiums paid), then using policy loans. Loans and withdrawals may generate an income tax liability, reduce available cash value, and reduce the death benefit, or cause the policy to lapse. This assumes the policy qualifies as life insurance and is not a modified endowment contract. The Host and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. This content is not intended to serve as the basis for any investment or purchasing decisions, nor does it recommend or involve the purchase, holding, or sale of a security.  All figures herein are hypothetical and for illustrative purposes only to explain general concepts.  No figure is to be relied upon as being accurate nor a guarantee or projection and is meant only as a partial overview of some relevant features and benefits of general insurance products that may be in the marketplace, and whose availability will be dependent on the State of residence of the consumer, and their individual suitability for the product they are wanting to purchase. Where insurance products are mentioned, any and all guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.

IMPORTANT CONSUMER INFORMATION

This site is for informational purposes only and is not intended to be a solicitation for or offering of any product or investment. The offer for sale of an insurance product may only be conducted in a state where the agent is licensed and the product is approved for sale. The providing of investment advice relating to securities may only be done by a properly licensed individual operating through a licensed affiliate entity, unless otherwise exempt. Comments about past performance are not to be construed as a guarantee or assurance of future performance. This website may contain concepts that have legal, accounting and tax implications. We do not provide specific legal or tax advice, nor promote, market or recommend any tax plan or arrangement. Consult a tax/legal professional for guidance with your individual situation. No representations are made as to the accuracy or completeness of the information contained herein or any information contained in any link provided herein, nor does a consumer visiting the web site create an agent-client relationship.

By contacting Tom O’Keefe MI Ins Lic# 0283513/Safe Harbor Associates, LLC you may be offered information regarding the purchase of insurance products, including fixed index annuities and life.

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