Insurance companies allow us to save in Life Insurance by over-funding the policy. The tax code spells out the amount of money we can put into the policy and keep it from becoming a M.E.C. (Modified Endowment Contract).
If we monitor your cash value and death benefit, we can keep the cash value tax free and start taking tax free income from the policy to provide a steady income that is free from current income tax. Also, the death benefit is almost always tax free to your beneficiaries.
To learn more from our licensed financial planner about developing a retirement plan based on tax free income, contact our office today and use the keyword "Tax Free" in the subject line.
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