RETIREMENT PLANNING

Did you know that you can keep retirement planning simple, with the dual benefit of having insurance and investments in one plan? This option to save for retirement and protect loved ones, through one monthly contribution, keeps retirement planning simple. Each time you make a payment, a portion of the amount contributed, will pay for life insurance and the additional funds over the cost of insurance will form the investment component part of the plan that will grow tax-free.

When is retirement planning beneficial:

• Simplicity of a two in one plan

• Various investment options

  Ability to access the cash value of the plan on a tax advantaged basis should you require money.

This plan allows you to plan for retirement, withdraw monies if required on a tax advantage basis, as well as protect your retirement plan and yourself. The cash can be withdrawn as a loan which can be paid be back with no timeline for repayment. The loan potentially has interest charges and if cash withdrawn from the plan is not paid back, it will directly affect the total death value of the plan. While there are several dual benefit plans, it is important to speak to an advisor who can guide you to make the correct choice based on your time horizon, risk tolerance and retirement spending needs.