When we think of life insurance, often the first thing that comes to mind is protection. That protection extends to both good and bad markets - and not just death benefits but living benefits as well.
Given the recent financial news, here are some things to consider.
- Tax free death benefits can protect an insured's income and assets from market volatility during their working years and beyond, and provide a legacy when markets recover.
- Income tax-free withdrawals and loans may be used as potential sources of emergency funds, or to help meet liquidity needs.
- Life insurance cash values can be accessed during a down market to avoid selling other assets and "locking in" losses.
Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.