from McGee & Thielen Insurance Brokers
Life insurance is a crucial step in planning for your future and the future of your loved ones. It can fulfill promises made to your family if you are no longer around by providing a death benefit to your beneficiaries in return for premiums paid to the insurance company. Life insurance can also provide benefits while you are living.
The cash value growth of a permanent life insurance policy is tax-deferred1, which means you do not pay taxes on the growth of the cash value unless the money is withdrawn.
Loans2 or withdrawals can be taken against the cash value of a permanent life insurance policy to help with expenses, such as college tuition or the down payment on a home.
(1) Accumulated growth may be taxable upon withdrawal. If the policy is a Modified Endowment Contract (MEC), tax penalties may apply prior to age 59 ½. Consult a tax advisor on your specific situation.
(2) Policy loans and withdrawals reduce cash value and the death benefit and may be subject to other charges outlined in the contract.
We know how to find discounts on life insurance you may not find on your own. Give us a call, or get a quote online today.
Conveniently access customer service and claim info directly from your cell phone. Read more.
McGee & Thielen Insurance
3780 Rosin Court #120
Sacramento, CA 95834
8AM - 5PM Mon - Fri