AS A BUSINESS OWNER, WHAT CONCERNS YOU MOST  |  AS A BUSINESS OWNER, WHAT CONCERNS YOU MOST  |  FREE, NO OBLIGATION LIFE QUOTE  |  HOW MUCH LIFE INSURANCE SHOULD YOU OWN?  |  LIFE INSURANSE COVERAGE  |  LIFE INSURANCE GLOSSARY  |  PREMIUMS FOR A PROMISE


LIFE INSURANCE vs OTHER INVESTMENTS

        You may ask yourself "What makes life insurance or annuities superior to a savings or investment plan for leaving a family financially secure?" For one, premature death can interrupt such savings plans. If a person began a savings plan today with monthly deposits of $50 and died next week in an auto accident, their heirs would receive $50 plus interest. If they used the $50 to purchase a $100,000 life insurance policy instead, their heirs would receive $100,000. So Life insurance can guarantee completion of family’s savings plan.

       
        Another major advantage of whole life and annuities is their tax favored treatment. With other forms of investments, the IRS requires a person to pay taxes on the interest credited each year, whether or not they take out the interest. But most people who own whole life or annuities do not have to pay taxes on the interest until they begin using the money, usually at retirement. Many people pay taxes at a lower rate after they retire, so life insurance can reduce a person’s tax burden.


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