Summerlin Benefits Consulting Q&AAnswer
Jan 03, 2025 - 09:50 AM
The life insurance industry has evolved to offer benefits that extend beyond just providing a death benefit. Today, life insurance policies can provide financial advantages while the policyholder is still living. For example, modern life insurance products, such as Fixed Indexed Universal Life Insurance (FIUL), allow policyholders to access tax-free retirement income and long-term care benefits. These policies enable individuals to accumulate cash value that can be accessed during their lifetime without incurring taxes, providing an additional source of income for retirement. The evolution of life insurance now allows policyholders to protect their financial future while also benefiting from the policy during their lifetime, addressing new retirement and healthcare needs.
