Are you worried about funding your retirement? Life insurance may be the answer. Life insurance can provide tax-deferred growth, tax-free cash flow, and a tax-free death benefit. The tax-preferential treatment provided to life insurance allows an individual to have greater flexibility over which dollars to use during retirement, and depending on the type of life insurance, it can also be an asset to you portfolio. It is whole life insurance that offers a cash value that will grow over time and have partial surrenders taken out from it. Life insurance itself is tax-sheltered and will not be affected by future hikes in tax rates. The policy can provide bond-like returns of 3 to 5 percent without the interest rate risk of a bond.
You can also use life insurance as a tool to protect your retirement savings plan. It is recommended to get insurance for both yourself and your spouse so that you may be financially secure in retirement if your partner were to pass away. Cosmo Insurance offers various options in life insurance including but not limited to: term, ROP, permanent and whole – from over two dozen A rated carrier.
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