LIFE INSURANCE

There is great misunderstanding among the population concerning life insurance, the purpose of life insurance changes over the span of our life. Initially we buy it to protect our family in case something happens and we want as much insurance as we can get for a small amount of money. Later on, it can often be used as a vehicle for funding tax free retirement income very successfully. It is often used to maximize pension income, in lieu of buying substandard life insurance from your pension plan. In the final stages of life, many times other assets should be converted to life insurance which will guarantee* your heirs and those that you love tax free benefits instead of taxable investments.