Life Insurance

senior woman gardening life insurance

About Life Insurance

If something were to happen to you, you most likely want to make sure your family will remain supported. If this is the case, then life insurance is an option you should consider.

However, did you know that certain life insurance products may be used as a source of income for you while you’re still alive? This is especially valuable because they come with different tax rules than traditional retirement accounts.

Whether you need help navigating different options, or you just want an opinion on the policy you already have, we can be of help to you.

Tax-Free* Retirement Options?

Does a tax-free* retirement even exist? Well, with the right retirement strategy, it might. For example, IULs allow access to your cash value without being taxed. This includes potential tax-free* income for your beneficiaries, too.

Benefits In Your Lifetime
  • Protect your cash value (even in a down market)
  • Potential cash value growth afforded by a stock market index
  • Possibly lock in potential gains
  • The potential for tax-free* income
  • Flexibility to fund all at once, or slowly over time
  • NO excess fees for pulling money out before age 59 1/2
Legacy Benefits
  • The death benefit may be higher than the premium payment you make
  • Tax-free* death benefit
  • Money doesn’t go through probate court
  • The benefit can be paid over time, or as a lump-sum
  • Death benefit increases over time
  • The option to use some of the death benefits for chronic or terminal illness

Life Insurance Options For Retirement

Most people know the basics when it comes to life insurance. You can buy it to supplement your income once you’ve passed away. The right life insurance policy can help you ensure that your loved ones are financially secure following your death.

However, there is another way to use life insurance to your advantage regarding your retirement. Most people don’t realize that life insurance can provide income while you are still living. However, some types of life insurance policies can be used for this.


grandparents picking strawberries with their granddaughter life insurance options for retirement

An indexed universal life (IUL) insurance policy may be an example of this. The funds from an IUL can be accessed during emergencies. Some retirees use the funds from an IUL to cover larger purchases or expenses. Or, maybe you want to use the funds to pay for college for your kids or grandkids. When you use the money from an IUL, the rest of your retirement savings can remain untouched. However, it is essential to remember that every policy is unique, and so is everyone’s specific situation. It’s critical to seek advice from a professional.

Choosing the Right Life Insurance Options For Retirement

The Financial Alliance is committed to ensuring our clients are educated on their retirement options. Life insurance could play a key role in your retirement strategy. Contact us so we can discuss your choices and answer your questions. We're here to help.

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