Your Family Banking PlanSM can be a means to Tax Free Retirement
What kind of retirement plan do you have? Chances are the answer is a 401(k) or some type of qualified plan. This is what we are all taught to do because we can defer tax now and pay less in tax in the future (that’s the thought anyway).
In reality, most people will find themselves in a higher tax bracket during their retirement years.
How is this you ask? The reason is simple; while you are in your working years you have many deductions on taxes. Contributing for retirement, paying for a home, raising children all carry with them deductions that most retired people will no longer have.
The Family Banking PlanSM is designed by using specially designed permanent insurance that allows high cash value accumulation and steady risk-free growth.
The benefits to these plans are endless, but just to name a few:
- No penalties for early withdrawal if done properly
- Access to your money at any time
- No limit to the amount you can contribute
- Not reliant upon stock market performance
- Cash value builds tax deferred and can be accessed tax-free during retirement
- Policy Loans come from the insurance companies pool of money, which means your cash value stays in the policy earning you money.
- If you become disabled to do your own occupation the insurance company will fund your policy premiums
- The policy will provide a death benefit should something happen to you, your family will be taken care of
- In most states, life insurance is not attachable by creditors
Did we mention, the policy allows for you to create a TAX FREE retirement! Let us show you more!