(PRWEB) June 24, 2014
A whole life insurance policy can provide income during retirement. These plans feature a savings account which generates cash value at a fixed rate. As the years go by, the insured will have had save a significant amount in the policy’s account.
Another important feature is the tax-free withdrawal. Most savings account do not feature this tax exemption. Withdrawing money from a whole life insurance account can be tax-free as long as the withdrawn amount does not surpass the policy’s face value. The policy will also include an accumulation phase, during which the client cannot withdraw money from the account.
Whole life insurance plans can be profitable, but only if clients purchase the right policy. They can find affordable rates by comparing online insurance quotes, directly on our website. However, the best method is contacting an insurance broker. Professionals will provide important assistance when searching for whole life insurance plans.
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