Is life insurance only for death?
So many of us believe life insurance is just used for a death benefit. This is true. If you lose the income earner, or both income earners, people depending on them need the life insurance benefit.
Did you know that there’s an Index Universal Life policy that can give you tax-free income?
A policy returning 8% to it’s holders
Right now, the AAA Municipal Bond is paying for seven to ten years about 1%. An Index Universal Life policy for someone at 62, if they live to age 85 and 90, are averaging (net of fees) over 8%. If you’re in good health and you’re in your early 60s, many of don’t know of these policies.
When should you start an Index Universal Life policy?
Ideally you start this in your 30s and 40s, although most don’t that because they’re saving for education, buying homes, and education for kids. It is still a good time in your late 50s – early 60s to fund this account. It’s a principle-guaranteed account which, net of fees, generates about 8% to people living to age 85 and 90.
What policies are there to cover incidents outside of death?
The other type of insurance is a liability insurance called an Umbrella policy. Unfortunately, today you are at risk of being sued for huge sums for even a small auto collision. An Umbrella policy for $300-400 a year can cover you for with a million dollars of coverage that cannot be turned down.
DeckerRetirementPlanning.com is still meeting in persion. You can give them a call at 833-717-3030 or visit at DeckerRetirementPlanning.com.
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