Tag: life insurance

Life insurance isn’t a one-time purchase but a policy that should adapt to your changing needs throughout your life. At The Washwick Agency in Bethlehem, NH, we strive to ensure that your life insurance policy keeps pace with the stages of your life. As independent insurance agents, our primary responsibility is to you, and we provide personalized service tailored to your needs.

Young Adult

This is the stage of life when life insurance is most affordable. However, it’s also when you might feel you need it the least. It’s a dilemma: to buy or not to buy. Investing in whole-life coverage is a way to start your financial planning. It allows you to accumulate cash value while also providing a death benefit.

Marriage

This may be the first time in your life that someone else may be somewhat dependent on you. Your spouse is likely employed, and they don’t necessarily rely on you for their entire support. However, if you have a mortgage, it might be too burdensome for just one income.

Parenthood

Having children is one of the most transformative stages of your life. They are a responsibility that begins at birth and continues for many years. You need to have enough life insurance to allow your children to stay in the home they love. You need to calculate how many years you will need to provide for.

Retirement

By the time you reach retirement age, you will likely need less coverage for dependents since they are probably grown and independent. Your insurance agent can provide the information you need to decide the amount of coverage you need.

Contact us at Washwick Agency in Bethlehem, NH, to discuss any life insurance needs you may have.

If you are saving for retirement, chances are you already have an IRA, a 401(k) plan, and other well-known kinds of investments. But at The Washwick Agency, serving Bethlehem, NH, and all of New Hampshire, we encourage all of our customers to consider adding life insurance to their retirement portfolio.

Specifically, we recommend cash-value life insurance as a retirement investment.

Why Consider Life Insurance for Retirement Planning?

Cash-value life insurance helps you accumulate investment earnings without paying taxes before withdrawing from your policy.

Whole life and universal life policies contain both an insurance element, that is, they help protect your loved ones in the event of your premature death, and an investment element, earning money on the portion of your premiums in excess of the cost of insurance.

The value of these policies increases the longer you keep paying your premiums. After two years, you can take out a loan against the cash value of your policy that you do not have to pay back (although it will reduce the value of your death benefit if you don’t). You can surrender your policy for its entire value, or, in some situations, you can take out a policy with an option for paid-up premiums for lifetime coverage.

You can choose the investments you want for universal variable life, gaining the opportunity for greater earnings tied to a market index.

Life insurance can be a way to transfer wealth between generations without gift tax or inheritance duties.

Discuss Your Options with Us

Come in and talk with your agent at The Washwick Agency, serving Bethlehem, NH, and all of New Hampshire, about your options for life insurance investments for your retirement security. See how we help you have enough money to retire by protecting your asset growth from taxation while protecting your family’s security.