A survey from COUNTRY Financial found two in 10 Americans don’t think life insurance is worth it. Many think it’s only for protecting loved ones after they’ve gone but some life insurance can also build cash value for you to use while you’re alive.
Here are five ways life insurance can work for you today:The bottom line is that while you provide coverage for your family’s needs, you can also build a tax-free cash value that can benefit you in a multitude of ways, paying for education, new business, real estate, retirement and more. Some insurance companies offer a non-direct recognition whole life product, which allows policyholders to use their cash value without compromising its growth, a huge benefit to perpetually grow the asset even while borrowing against it.
Kyle Mraz is Agency Manager for COUNTRY Financial in Denver, Co. He can be reached at kyle.mraz@countryfinancial.com with questions.
Life insurance policies issued by COUNTRY Life Insurance Company® and COUNTRY Investors Life Assurance Company®, Bloomington, IL.
Policy loans and withdrawals decrease the cash value and death benefit amount of the policy. The decision to purchase life insurance should be primarily based on a need for the death benefit. Policies are not an investment and are not appropriate as a replacement for retirement savings accumulation.