Life Insurance

Life Insurance

Why life Insurance matters

We protect ourselves and our families with all sorts of insurance: health, auto, home, travel and more. For most of us, the coverage is (luckily) never used, or we don't get the maximum benefit returned. It's a back-up plan. It's "just in case" security.

Life insurance is different, however. Someone – the policyholder, their loved ones, their business, a charity – will ultimately receive a benefit. Your investment isn't a back-up plan ... it's a definite plan. 

Filling a need

Life insurance isn't for the dead. It's for the living. Not only does it offer peace of mind for your surviving loved ones, but it can also offer solutions and benefits you can use to lead a fulfilling life. Here are the four main benefits of life insurance: 

  1. Death benefit protection

    In a time of grief, a life insurance policy can help with medical bills, funeral costs and other immediate expenses, ensuring a family has financial support when it’s needed most. It can also help replace lost income for the future, providing loved ones with a better chance of continuing their current lifestyle.
  2. Cash accumulation

    Life insurance can be part of a diverse investment portfolio. In some products (universal and whole life) a portion of what you pay (the premium) earns interest. The gain is tax-deferred until withdrawn and can help fund financial emergencies, retirement income or college expenses.
  3. Income tax benefits

    Typically, the death benefit on a life insurance policy transfers to beneficiaries free of federal income taxes. Additionally, earnings from accumulated value are not taxed until withdrawn.
  4. Estate planning

    Regardless of the size of an estate, this can be a major consideration. Integrating life insurance into an estate plan can offer a number of benefits, including avoiding family conflict, protecting other assets or providing trusts for beneficiaries.
 

Take Action!

Don't leave your family to chance.  Get in touch with your financial advisor today and ask how to protect your loved ones.

Don't have an advisor? Give us a call at (800) 589-3000.  We'd love to listen to your needs and set you up with someone who can help guide you.

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Source: efinancial.com

Resources for Advisors

Life Insurance A to Z

This guide will take you through the basics of life insurance with illustrations, policy structure, tax benefits, customizations and more.

Facts of Your Life

The Facts of Your Life

Give your clients one central location to keep all their vital information, saving loved ones time and stress following death or disability.

Facts of Your Life

Accelerated Underwriting

What if you could skip the long, frustrating part of life insurance? Get coverage for your clients with no exams, no blood, no urine – no kidding!

Principal Accelerated Underwriting