Retirement Planning

If done correctly retirement will be 1/3rd of your entire life. This is a guaranteed life event. Why do we put hope into speculative accounts based on historical data with something that is guaranteed to happen? At Higher Ground Financial Freedom, we have the strategies to address that question.

A properly structured life insurance policy can guarantee you a competitive interest rate and guarantee that your hard-earned income will not be subject to high fees, taxes, or fluctuations in the market.

How Does Cash Value Insurance Work?

A standard whole life insurance policy comes with two parts, a premium payment, and a death benefit. Whole life policies have “riders” which allow the policy to adjust or are add-ons. Riders allow the policy to function in different ways. When a policy adds the Paid-Up Additions rider it will allow a large portion of the premium payment to grow significant cash value that has a guaranteed interest rate and can receive dividends.

Cash Value Insurance Benefits

Your whole life policy combined with the cash value has many benefits:
1. Tax-Free Death Benefit.
2. Tax-Free Growth.
3. Tax-Free Distributions.
4. Cash value is available prior to 59 ½ without penalty.
5. The policy can be used as collateral.
6. Creditor protection.
7. Competitive rate of return.
8. Protection against divorce.
9. Self-completing in the event of disability.
10. Unlimited contributions, not to exceed your human life value.

Understanding Your Insurance Cash Value

Our agents work closely with each client to ensure that they understand the ins and outs of their policy. Life insurance is not just about the death benefit being passed down. A properly structured policy has the ability to provide tax-free growth of your money for you to utilize in your later years. If you would like more information concerning your retirement income and the current strategy you are in, please contact us at 915-519-1957, we’d be happy to help.