Life insurance has many unique characteristics that may make it an appropriate solution for a variety of challenges, beyond those that arise at the death of the insured(s). In addition to death benefit protection, life insurance offers:
- Tax-deferred accumulation of policy cash values.
- Creditor protection (in some states).
- Tax-advantaged access to policy cash values. Please keep in mind loans and partial withdrawals may decrease the death benefit and cash value and may be subject to policy limitations and income tax.
The flexible nature of many modern life insurance policies provides a powerful means to address a wide range of personal, business, and charitable situations.