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Life Insurance

Life Insurance Is More than Just Life Insurance

For those of you who think life insurance is only to be used to transfer wealth to your heirs, you are wrong - well, you’re half wrong.

It is true that term life insurance is only used to transfer a death benefit to beneficiaries within the term of the policy. But there are now more types of policies available than the standard term life insurance policy, some of which include savings elements and cash value.

Whole life, universal life, variable life, and indexed universal life (IUL) policies take a portion of your premium payment and deposit it into an accumulating account. In this way, your life insurance policy also becomes an investment.


What Is the Difference Between Types of Life Insurance?

Each type of life insurance available provides benefits tailored to fit certain types of lifestyles. Find one that helps you get the most out of your retirement:

Earnings rates on universal life insurance policies can be pegged to financial indexes such as stocks and bonds. Doing so turns a universal life insurance policy into an indexed universal life insurance policy. IUL policies never dip below 0% interest, but carry a higher risk and possible reward than standard universal life plans.

Which Plan Should You Choose?

There is no single solution to the problem of choosing a life insurance plan, but Retirement Evolution will be glad to help you find yours. Start a conversation with us today about your retirement plans and life insurance needs, and we’ll help you discover the right life insurance choice for your future.