Whole life insurance premiums are one of the few sure things in life – they stay fixed, so there are no surprises. Best of all, these guaranteed premiums result in a guaranteed benefit.
Whole life insurance builds a cash value over the life of the policy. As an added bonus, this cash value grows tax-deferred. The policy’s cash value may be accessed or withdrawn (e.g., for a child’s college tuition, home renovations, retirement living expenses, etc.), but doing this may impact the final value of the policy’s benefits. Talk to your tax advisor before making any decisions.
Want to make sure the benefits of your policy go where they’ll have a lasting impact for your family or favorite charities? Buying whole life insurance can be a useful part of your estate-planning process, even when it comes to estate taxes. Your attorney can advise on estate-planning matters.
The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications. The guarantees provided by the insurance company are contingent on the claims-paying ability of the issuing company.
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Located at: Hancock Whitney Financial Consultants, 525 Florida Avenue SW, Denham Springs, LA 70726, 1-800-385-4188
Hancock Whitney Financial Consultants is a marketing name of Cetera Investment Services. Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with Hancock Whitney Bank where investment services are offered or Hancock Whitney Corporation. Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
Insurance products are: *Not FDIC insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency.
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