401(k) Balances are Down but Cash Value Life Insurance Balances are not!
With the recent outbreak of COVID-19 coronavirus, the economy and Wall Street are being greatly impacted. The markets will return, but uncertainty in your retirement or other savings strategies can be balanced with alternative strategies not tied to market performance. Most are unaware of the living benefits within life insurance policies that can be used to supplement various savings strategies and hedge against market fluctuations. Cash value life insurance offers guaranteed growth and tax efficient ways in which you can distribute your money. While balances in retirement accounts have been decreasing due to the current market environment, the cash value inside life insurance policies will not be impacted and will continue to increase. To learn more reach out to Alex Casella in our office to discuss how a permanent life insurance policy can help balance your future savings strategy.