Owning a whole life insurance product offers a person many options throughout
their life. Read some of the articles we have written to decide if whole
life insurance is something that you should own.
The death benefits of life insurance policies are free from all Federal Income taxes. The enormous value of this benefit must not be underestimated, especially in light of constantly growing government expenditures and taxes.
TAX-DEFERRED GROWTH
The growth of cash value inside of the life insurance policy is deferred from taxes while the funds remain in the policy. This is yet another wealth protecting benefit for families and businesses provided by Whole Life Insurance.
TAX FAVORABLE ACCESS TO POLICY CASH VALUES THROUGH WITHDRAWLS OF DIVIDENDS
During the insured's life, cash values can be accessed under favorable FIFO (First-In-First-Out) tax rules. This means that dividend withdrawals are tax free up to the amount paid cumulatively premium.
TAX FAVORABLE ACCESS TO POLCY CASH VALUES THROUGH POLICY LOANS
During the insured's life, loans taken against a life insurance policy will not trigger a taxable event even though the policy may have a large gain in excess of premiums paid.
