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Life Insurance

Discover how life insurance for retirement, like an Indexed Universal Life (IUL) policy, can provide tax-free* income and secure your financial future. Learn more about your options.

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Income & Legacy Benefits

// What Is An IUL?

Life Insurance In Retirement

You most likely have basic knowledge of what life insurance is for. Life insurance provides for the needs of your loved ones after you pass away. However, it might potentially be used for much more than that. For example, one could employ an indexed universal life (IUL) insurance policy to generate tax-free* retirement income. An IUL is worth looking into, even if it is not the best option for everyone.

If you're interested in utilizing life insurance for retirement, please contact us.

How Life Insurance For Retirement Can Help You

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Each retiree's situation is unique. So, no retirement strategy can be "one-size-fits-all."

The best course of action is to explore all of your options before deciding which ones are ideal for you. An IUL may also provide certain tax benefits. Because it is an insurance product, rather than a retirement account, it is subject to different laws. Importantly, you may be able to progressively move funds from your retirement account, such as an IRA or 401(k), to an IUL instead. This may allow you to withdraw the money (and any earned interest) tax-free.*

Benefits

Some of the benefits offered by life insurance for retirement include:

  • Market losses do not reduce the cash value of your IUL
  • Lock in what you accumulate
  • Tax-free* growth in cash value
  • Access to both principal and interest tax-free*
  • Fund your policy all at once or over time
  • No fines or fees for accessing funds under the age of 59 1/2

And here are some "legacy benefits" offered to your beneficiaries with life insurance for retirement:

  • Tax-free* death benefit
  • Beneficiaries receive direct payments, no probate court
  • Payment to beneficiaries can be received in one lump sum or in a series of payments
  • The death benefit can potentially increase over time
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715 East Main St. Moorestown, NJ 08057
501 Cambria Ave. Bensalem, PA 19020

*Proceeds from an insurance policy are generally income-tax-free, and if properly structured, may also be free from estate tax. Income-tax-free distributions are achieved by withdrawing to the cost basis (premiums paid), then using policy loans. Loans and withdrawals may generate an income tax liability, reduce available cash value, and reduce the death benefit, or cause the policy to lapse. This assumes the policy qualifies as life insurance and is not a modified endowment contract. The Host and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. This content is not intended to serve as the basis for any investment or purchasing decisions, nor does it recommend or involve the purchase, holding, or sale of a security.  All figures herein are hypothetical and for illustrative purposes only to explain general concepts.  No figure is to be relied upon as being accurate nor a guarantee or projection and is meant only as a partial overview of some relevant features and benefits of general insurance products that may be in the marketplace, and whose availability will be dependent on the State of residence of the consumer, and their individual suitability for the product they are wanting to purchase. Where insurance products are mentioned, any and all guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.

IMPORTANT CONSUMER INFORMATION

This site is for informational purposes only and is not intended to be a solicitation for or offering of any product or investment. The offer for sale of an insurance product may only be conducted in a state where the agent is licensed and the product is approved for sale. The providing of investment advice relating to securities may only be done by a properly licensed individual operating through a licensed affiliate entity, unless otherwise exempt. Comments about past performance are not to be construed as a guarantee or assurance of future performance. This website may contain concepts that have legal, accounting and tax implications. We do not provide specific legal or tax advice, nor promote, market or recommend any tax plan or arrangement. Consult a tax/legal professional for guidance with your individual situation. No representations are made as to the accuracy or completeness of the information contained herein or any information contained in any link provided herein, nor does a consumer visiting the web site create an agent-client relationship.

By contacting Brian Powell NJ Ins Lic #334829/Wealthguard Annuity Group LLC NJ Ins Lic #1543541 you may be offered information regarding the purchase of insurance products, including fixed index annuities and life.

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