Ok I know what you're thinking, "Why do I need life insurance." Most folks I meet with have a negative view of what was once a must have product in everyone's portfolio. Unfortunately most agents have sold this multi-functional product short and promoted it just for death benefit. But there's more to it. Here though are some of the benefits:
* This product can replace your income. All of us will die sometime...it is a fact! The problem is we do not know when. When you die your income earnings potential goes with it. How will this impact your family, your wife or husband? It could be devastating especially if your spouse is not working. This product can replace that income and help them live comfortably without fear.
* This product helps you create your own bank! Wouldn't it be nice to not have to go to the bank for a loan? This product has monetary value that you can borrow from tax free and you can chose whether to pay it back or not. It grows TAX FREE, comes out in retirement TAX FREE & goes to your heirs TAX FREE! (Are you seeing a pattern here?)
* This product makes an awesome gift! You could buy this product for a child or grand-child to help pay for college, create their own bank AND provide a substantial retirement fund. It would benefit them for the rest of their lives creating an excellent legacy for you - THEY'LL NEVER FORGET YOU!
* This product is real property. In comes to full value exactly when you need it. It pays a higher amount at death or full accumulated value at retirement. It's property so the Feds require the value to be declared in your estate but their are ways to avoid this scenario.
Well maybe you've guessed it by now? This product is LIFE INSURANCE! That may surprise you. Most agents have not done a very good job explaining all the LIVING BENEFITS of this fantastic financial product. Most of you probably think of it only for it's death benefit but that's not the whole story.
The rich figured out a long time ago guy it was the best place to put earnings to get back TAX FREE BENEFITS. The government also figured this out began to set regulations to get rid of the tax loop hole but there are ways around that as well.
The new generation of Life Insurance also has living benefits that allow you to access a percentage of the death benefit for things like:
* Long Term Care
* Terminal Illness
* Tax Free retirement income
Don't follow the old adage "Buy term and invest the rest". First of all NO ONE every saves the difference. Plus only 2% of folks that buy term every collect the benefit. That means they've paid into a product for years that never gave them a return on that money; what a waste! Click here for a FREE analysis to see how Life Insurance might benefit your retirement plan.
Safe Savings - Roger H. Ely
Roger Ely offers safe money retirement strategies to help you maximize and convert your retirement savings into retirement income guaranteed for life, provide for continued growth, help over come Long Term Care costs, and guarantee you Never Lose Another Dime! More information is available at http://letstalkretirement.com