Life Insurance is a crucial step in planning for your future and the future of your loved ones. It can fulfill promises made to your family if you are no longer around by providing a death benefit to your beneficiaries in return for premiums paid to the insurance company. Life insurance can also provide benefits while you are living.

Advantages of the Death Benefit:

·         Provides income tax-free money to your named beneficiary(s) that can be used to pay funeral expenses, debt, tuition, estate taxes or virtually any financial need you leave behind.

·         Can provide business security by enabling partners to buy out the business of a deceased partner and prevent a forced liquidation.

Advantages of Living Benefit:

·         The cash value growth of a permanent life insurance policy is tax-deferred, which means you do not pay taxes on the growth of the cash value unless the money is withdrawn.

·         Loans or withdrawals can be taken against the cash value of a permanent life insurance policy to help with expenses such as college tuition or the down payment on a home.