I Want to Add Life Insurance to My Portfolio of Financial Products

When you’re building your portfolio, you may not think about adding a life insurance policy. But it’s not too late. Life insurance can be a valuable addition with many benefits.

Its features include:

Liquidity of the death benefit - Since your death benefit will be paid in cash when you pass away, it’s a liquid asset that can be accessed quickly by your beneficiaries.

Easy distribution - It can be split among any number of heirs.

Predictable value - Since some types of life insurance earn cash value on a predetermined schedule, you can predict the value of your policy at a future date.

Stability – When life insurance is a guaranteed product, the value of the death benefit isn’t affected by the economy or changes in the stock market.

Tax advantages - Cash values in a life insurance policy grow tax deferred, and beneficiaries receive the death benefit income tax free (and estate tax free, too, if properly structured).