What is Life Insurance?Life insurance pays out a sum of money either on the death of the insured person or after a set period of time.
Common Types of Cash Value Life InsuranceWhole Life Insurance is a life insurance policy that remains in force for the insured's whole life and requires (in most cases) premiums to be paid for a set amount of years. Whole life accumulates cash value that compounds uninterrupted with interested. All the cash value that builds up inside of a whole life policy can be taken out at any time and the cash will always be tax free. Whole life is the key foundation to any financial plan and should be considered in your retirement planning for having a tax-free bucket. Term Life Insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time. The BenefitsUsing Cash Value Life Insurance Quotes NJ is a key building block to your financial and retirement plan. There are so many creative ways to use the cash value of your policy for things such as having access to cash any time you need it, tax-free retirement planning and a more effective way to plan for college instead of using a 529 Plan.
Contact us today to learn more about Cash Value Life Insurance Companies in New Jersey. |
"I had a great experience using John to purchase life insurance. He answered all my questions and was helpful in determining which was the right choice for me. I was nervous about using an agent from another state, but there was no cause for concern. The process was very smooth, and he kept me informed the entire time. Thanks Jonathan!"
- Sam James, New York |