I would like to speak to someone about Life Insurance and Financial Planning.
Life Financial Planner/Life Insurance
Here at PM Insurance Services Financial Planning is a critical piece of your overall personal and/or business risk management plan! Financial Planning along with Life Insurance helps to protect your family and loved ones, and it can be used to pay off debts and other expenses to provide that important stream of income after an unexpected loss of income. Most importantly, it provides peace of mind. Many people overlook the importance of Life Insurance and Financial Planning by either not buying it at all, only considering term life, and/or guessing on the amount needed. Our life insurance specialists can help you pick the right policy, and the right amount for your needs.
Advantages of Life Insurance
- Life insurance provides an infusion of cash for dealing with the adverse financial consequences of the insured’s death.
- Life insurance enjoys favorable tax treatment unlike any other financial instrument.
- Death benefits are generally income-tax-free to the beneficiary.
- Death benefits may be estate-tax free if the policy is owned properly.
- Cash values grow tax deferred during the insured’s lifetime.
- Cash value withdrawals are treated on a first-in-first-out (FIFO) basis, therefore cash value withdrawals up to the total premiums paid are generally income-tax free.
- Policy loans are income tax free.
- A life insurance policy may be exchanged for another life insurance policy (or for an annuity) without incurring current taxation.