Do you recall that great classic song by the Fifth Dimension, Up, Up and Away?
Well, not many folks are singing about how good things are on the economic front. Fear of rising taxes, a continued recession, lingering unemployment and low or anemic economic growth have many people scratching their heads and wondering how best to position themselves financially.
A just released LIMRA report indicates that sales of permanent life insurance policies for the first three quarters of this year are up 15% over the same period last year. Why are people taking a renewed interest in permanent life insurance? I see several reasons:
1. People are looking for guarantees. What’s better than a 3% or 4% interest rate guarantee of your cash value? What other options offer this type of guarantee?
2. The tax advantages of life insurance include the tax-free buildup of cash values while the policy is in force and the tax-free nature of most death benefits.
3. You have guaranteed access to those cash values. If you need a loan, will your banker always be there? Your cash value will.
4. Consider the stable nature of the life insurance industry in an otherwise shaky financial world.
5. You gain peace of mind knowing your loved ones are protected and will be provided with the exact amount of financial help you have identified that they need, in the event of your premature death. What a legacy to leave!
Click here to find out more about permanent as well as term life insurance, and which may be right for you. I hope you’ll take time to find out about the unique and powerful nature of life insurance. It will help you feel like your financial health is up, up and away!