Life insurance is a powerful financial tool that can help you provide for your family in times of need while growing with them over the years. It can provide financial security when it’s needed most, but many don’t know life insurance can also be used as a savings vehicle — which is important as you work toward other goals, like building your nest egg or paying off debt.
It’s never too soon to start thinking about life insurance. At any age, life insurance can help you protect those who rely on your income in case something happens to you.
Now’s the time to take advantage of Allstate Group Whole Life Insurance. It’s a permanent form of life insurance that provides coverage for you and your loved ones for a lifetime.
Read on to learn more.
Whole Life Insurance: A Tax-Advantaged Fund
The Allstate Group Whole Life Insurance is much more than a death benefit: It’s a way for you to start setting money aside and build tax-advantaged wealth. One of the best features of the policy is that you can use it to save for your retirement without having to pay taxes on the money you earn from your investments.
You can use it as a:
- Emergency fund: If you don’t have enough money to cover unexpected expenses, you can use some of the policy’s cash value for emergencies instead of taking out a high-interest loan or using a credit card.
- Children’s education: You can use the policy’s cash value to help pay for your children’s education costs once they’re old enough.
- Retirement savings: The tax-deferred growth of Allstate Group Whole Life Insurance’s cash value can help supplement your retirement income once you reach retirement age.
You can also take out loans against your policy, repaying them at any time. These loans accrue interest, and if they aren’t repaid before your death, they’re deducted from your final benefit payout. Similarly, if you withdraw money from your policy — say, to pay for a child’s college education — you’ll lose both those funds and their potential future earnings when you die or retire.
The Allstate Group Whole Life Insurance policy is designed for people who plan on keeping it for life. It offers “guaranteed cash value growth.” As long as you keep up with payments and don’t withdraw from the policy, its value accrues over time and can be used to supplement your income.
Customize It to Fit Your Needs
You are completely free to decide who to cover and how much coverage you want to provide. Whole Life Insurance is an affordable option that helps you protect your family’s financial future.
You can frame your policy options around specific factors such as:
- How many people are depending on your income
- How much debt you have
- How much money you want to leave as an inheritance
- How long you want the payments to last
The Whole Life insurance policy is designed to provide coverage for your whole life and not just for a specific period.
The premium amount and sum assured remain fixed throughout the policy term.
Flexible Enough to Cover All Stages of Life
Life changes fast. Today, you’re young, healthy, and just starting out; tomorrow, you could be married with a houseful of children. Tomorrow could also bring illness or an accident that leaves you unable to work and pay your bills.
The best life insurance policies are flexible enough to cover all stages of life, and you can rest assured that Allstate Group Whole Life Insurance does so. Not only are premiums payable all the way to age 95, but you can automatically deduct them from your paycheck. That’s not always the case with other life insurance products, which may have age limits for premium payments or require you to write a check each month.
Receive a Lump Sum Paid Either Upon Death or Policy Maturation
The Allstate Group Whole Life Insurance policy provides individuals and families with the security of knowing that the death benefit will be paid in the unfortunate event of death. The policy also can be paid out as a maturation benefit if it is kept for the entire term.
What does that mean? If you keep the policy for its full term, you are eligible to receive its entire death benefit, plus any dividends that have accumulated. That means your family gets the death benefit payment, and you get to keep the cash value and dividends that have accumulated.
Guaranteed Rates for the Duration of the Policy
Having a guaranteed rate for the duration of the policy means that you know exactly what your monthly premiums will be. Some insurance companies raise their premiums to account for inflation, but with a guaranteed rate, you don’t have to worry about your premiums increasing during the life of your policy.
This is especially helpful if you are on a fixed income. If rising insurance costs could have a significant impact on your budget, then paying an additional amount every month may be too much for you to afford. In this case, having a guaranteed rate can help ensure that you will be able to pay your premiums without any trouble.
Having a guaranteed rate frees you to:
- Focus on other aspects of your life
- Make long-term financial plans
- Keep your budget balanced
It’s a secure, predictable insurance policy that never expires. There’s no need to worry about death or health restrictions or unexpected changes made to your premium. Instead, you can spend more time enjoying all that our world has to offer instead of worrying about the future.
Whole Life Insurance Is Available Now to Resourcing Edge Employees
Resourcing Edge is excited to announce that we have partnered with Allstate Insurance to help our employees protect their families with a whole life insurance policy. Since revealing our partnership with OneDigital, Resourcing Edge has made it a priority to emphasize not just financial freedom but also fiscal responsibility for our employees. As we move forward together, we hope that Resourcing Edge employees will take advantage of this fantastic opportunity.
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