Foothills Times January 2014 Vol 34 May 2014 | Page 26
Sabrina Gatewood
P
ermanent life insurance can provide you and your family
with longstanding benefits that ultimately provide a greater
sense of protection and financial security. Here's an
overview of the ways that a permanent life insurance policy
can be a valuable option for you and your family.
While the primary purpose of life insurance is to protect loved ones
in the event of your death, permanent life insurance offers other
financial benefits that may be extremely helpful with everyday
expenses. One of the larger financial perks of purchasing a
permanent life insurance policy is the cash value accumulation
component, which guarantees cash value accumulation on a taxdeferred basis. This cash accumulation is often referred to as a
“living benefit” since it is a benefit you can enjoy during your
lifetime. As long as your premiums are paid, the cash value that
builds in your policy accumulates on a tax-deferred basis and can be
borrowed against generally income tax-free. That money can be
accessed via policy loans
for virtually anything, such
as funding a child's college
education, supplementing
your retirement income as
the life insurance needs
decrease, or even ensuring
the continuation
of a
personal business you've
worked hard to build.
Moreover, some permanent
life insurance policies may
be eligible for dividends
which may be used to help
pay premiums or purchase
additional insurance.
Signature
Custom
Woodworking,
Inc.
opened its business in
2004.
Specializing in
solid wood countertops
using many different
domestic and exotic
woods from all around the
world. The owner, Randy
Bennett, has been a
woodworker all of his
life. “The warmth and
natural touch that goes
with having a solid wood
countertop in your home
is icing on the cake for
anyone who appreciates
what nature provides us.”
www.signaturecustomwoodworking.com
607 South Main St. Suite L2, King NC
Located in the King Shopping Center
Stay safe and secure
Unlike permanent life
insurance, which is in place
for your entire life, term life
insurance
generally
provides a tax-free death
benefit for a specific length of time. When the term expires, so does
your protection. While you may be able to renew it, your health may
have changed and the rates may be higher. While term insurance
may initially offer more affordable premiums, permanent life
insurance provides a lifetime of protection and value. Your
premium stays the same regardless of your age or health conditions,
and the policy is more likely to be in force when your family needs it
most.
Now is the time
It's always a good time to protect your family. But it's even more
important to make sure they're protected when other assets can't be
counted on. That's why permanent life insurance is so valuable—its
cash value is guaranteed to accumulate each year, regardless of the
economic environment.
(This educational article is provided as a courtesy by Sabrina
Gatewood, Agent, New York Life Insurance Company
[email protected].)
www.foothillstimes.com
26
Town & Country was opened in July of 1987. There have been five expansions
of the existing building. The owners have been George Moutos and John Vlasis since
1987. With the help of family and great employees we have provided King with a high
quality dining experience.