Are you interested in having a tax-free income during your retirement as well as a financial plan for your loved ones after you pass way? You could have all of this at an affordable rate if you pair your Social Security benefits with an index universal life insurance policy.
Index universal life insurance is a life insurance policy with cash value that earns interest based on a fixed, pre-determined interest rate and/or an interest rate based on an equity or bond index, like the S&P 500, which historically has earned a higher interest over time. This coverage has a living benefit that you can use while you’re alive, and a death benefit that passes to your loved ones tax-free when you pass away.
Index universal life is different than other retirement plans for several reasons. The first is that it has no market risk – you get the benefit when an index rises, but do not risk anything when the index decreases. You’re also guaranteed a minimum interest rate. Another reason is that the income from a life insurance policy can be tax-free. Also, this tax-free income will NOT be included as income in the calculation Social Security uses to determine how much of your Social Security benefit is taxable. That is a big difference from other retirement plans, such as an IRA and 401(k). Unlike many life insurance plans, the premiums and the death benefit are not fixed, meaning that your death benefit can grow.
Most people can’t live on social security benefits alone, even if they are receiving their spouse’s benefits as well. If you’re planning on using your own benefits or your spouse’s social security benefits as an income during your retirement, you could earn more interest by putting those benefits into an index universal life policy, or use an IUL plan to supplement your social security income during retirement.
To get more information on index universal life insurance and a free quote, fill out the form to the right or call us today! One of our qualified insurance specialists will help you find the perfect retirement plan.
Request Your FREE Quote Today!
© 2018 - Family Protection Center. All rights reserved