Getting the Full Picture on Annuities and Insurance
Money put into these products grows on a tax-deferred basis just as it does in retirement accounts. In the case of annuities, the money is eventually taxed as ordinary income when it is taken out. With permanent life insurance, the death benefit goes to the beneficiaries free of income tax, but if it is a permanent policy, as opposed to a term policy, the owner of the policy could also borrow against its cash value and never pay income tax on it.
There are two basic types of life insurance policies: life and whole life. Term life insurance policies last for a specified period of time. Term life is less expensive than whole life because it usually expires before the benefits are used.
Whole life insurance lasts from the day you the policy until the day you die, no matter. A whole life policy is more expensive because the coverage could last a few years or several decades. Whole life policies can be borrowed against at a high interest rate, while term life policies.
Individual Life & Group Life
Here at A-3 Insurance Solutions, Life insurance policies are investment tools you need to help provide financial security for the ones you love – now and in the years to come. Whether you’re looking for the affordability of term insurance, the lifelong protection and cash value of permanent insurance, or a combination of both, we have options to fit your needs and budget -
Life Insurance Solutions - Business & Family
Understand the Type of Policy You Need
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