Value Of Life Insurance

 Complete Value Of Life Insurance And Working With A Financial Professional

Planning for retirement has not been easy over the past few years. Saving and investing for a secure financial future have become more difficult than ever because of market instability, declining real estate values, and for others, job loss or stagnant earnings. A financial expert can help in this situation.

A financial expert can assist you in making financial decisions that will protect the things that are important to you, such as your family, your business, or your way of living. But how can you identify a financial expert who is a suitable fit for you?


1. Start by considering his or her philosophy and approach to retirement planning. In today’s tenuous financial environment, a professional who believes permanent life insurance plays a critical role in a financial plan should be a strong consideration. Permanent life insurance provides a guaranteed safety net, should the unthinkable happen. A death benefit can give you peace of mind that your family or business is properly protected. Plus, the cash accumulation potential of permanent life insurance can be used to launch a second career, pay for a grandchild’s education or supplement retirement revenue streams. Permanent life insurance also allows other elements of a financial plan, such as annuities, investments or disability insurance, to do their job.

2. Make sure the financial professional has the proper education and training. Here are the top credentials to look for:

  • Chartered Life Underwriter (CLU) — an insurance designation often held by those who specialize in life insurance and estate planning and given by The American College, a nonprofit dedicated to educating individuals in financial services.

  • Certified Financial Planner (CFP) — a designation given and governed by the Certified Finacial Planner Board of Standards.
  • Chartered Financial Consultant (ChFC) — a designation on par with the CFP, also given by The American College.
3. Make certain you have a good comfort level with the financial professional, and how they communicate with clients. You can do this by scheduling an in-person meeting, preferably at their office, to ask the following questions:
  • What is your approach to retirement planning?
  • How often will I have the opportunity to meet in person to make sure my plan can adjust as my life evolves?
  • What is the average length of your relationships with clients?
  • Will you offer options and help me compare risks, costs and benefits?
  • How will you communicate with me about my finances?
  • All guarantees are based on the claims paying ability of the issuer. Accessing cash-values may result in surrender fees and charges, may require additional premium payments to maintain coverage and will reduce the death benefit and policy values. Any examples are hypothetical, intended for illustrative purposes only, and highlight a single possible outcome. Individual results will vary.

To learn more about working with a financial professional to take full advantage of the complete value of life insurance, visit www.PennMutual.com.


Life Insurance: Possibilities In A New And Complex World

Only 44% of American families had individual life insurance in 2016, and 30% of those homes had no coverage at all, according to a recent research by the Life Insurance and Market Research Association.

These figures come at a time when it has never been more sensible to use life insurance for both its protection advantage and as a tool to accumulate wealth. Home ownership, defined benefit plans, 401(k) matches, and social security were once pillars of financial security but are now in jeopardy. These conditions make it difficult to use many of yesterday's financial solutions to support a college degree, start a new business, or deal with an unanticipated health issue.

Regularly evaluated and updated permanent life insurance policies safeguard more than just financial assets. It provides stability and enables you to benefit from a wide range of life's opportunities.

Here are some typical myths you should be aware of if you're thinking about purchasing life insurance or raising the amount of coverage you currently have:

  • Life insurance only provides a death payout. Permanent life insurance enables cash value accumulation in addition to a death payout. You and your family or small business can utilize this money to pay for a variety of living expenditures.
  • The best course of action is to purchase term insurance with a minimal death benefit and invest the remaining funds in other ventures. Death protection is crucial, but permanent life insurance provides both that protection and cash-building potential, fitting your needs as they change over the course of your lifetime.
  • Only if you have children does life insurance become important. Aside from safeguarding children, life insurance can meet a variety of needs. For example, you may use the cash value of a permanent policy to support a charitable cause you care about or expand your business.
  • Life insurance is a recurring expense. A permanent life insurance premium payment is an investment in your future. As a permanent policy builds up monetary worth over time that may be accessed whenever and however is necessary, it functions similarly to paying yourself.

Please visit www.pennmutual.com for more details about all of the life's potentials that life insurance may satisfy.

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