William Penn Life, 2012 (47. évfolyam, 1-12. szám)
2012-11-01 / 11. szám
Moneywise with Jeff DeSantes Whole Life Insurance: Coverage for your “entire life WHOLE LIFE INSURANCE provides lifelong protection and cash value accumulation. Whole life insurance provides protection for your whole, or entire, life. Premiums are payable during the life of the policy. Even if your health deteriorates and you become uninsurable, you can keep your policy in force at the same premium rate and accumulate a guaranteed cash value. The advantage to owning life insurance with cash value accumulation becomes more obvious the longer you own the policy. As the cash value accumulates and grows, it can be used for financial needs that may occur. While a whole life insurance policy can be cashed out for the cash value of the policy, there are several reasons why that may not be the wisest thing to do. First, most life insurance policies are purchased, in part, to pay for end-of-life expenses, thereby easing the financial burden on your surviving family members. If you cash out your policy, then your family may have to find other sources of money to pay your final expenses. Secondly, if you cash out the policy, you may then owe taxes on the income. Finally, it may be difficult and more expensive—or even impossible-to obtain a new life insurance policy at an advanced age because this will depend on your current health and life circumstances. You also may take advantage of the accumulated cash value of the policy by taking a loan from the cash value. These loans are not subject to taxation as long as the policy is not surrendered or allowed to lapse while the loan is outstanding. If you take a loan from your whole life policy, your death benefit will be reduced by the amount of the loan plus interest, but your beneficiaries would still receive a death benefit as long as the policy remains in force. WPA has outstanding whole life insurance plans to offer our members, and those who would like to become members. If you do not have a WPA agent, please call the Home Office at 1-800-848-7366, ext. 120, and we can assist you in finding an agent who will be happy to serve you and your family by offering: a review of your needs, life insurance protection, taxed-deferred annuities, juvenile insurance plans and special fraternal benefits. □ • a in Cooperstovvn,^-’ ,ri\bo" P».. "bh her ~ * tate University of Ne ind court reporun. ^ ^ ^ ef'tS’ LL « and management ro e Uniwere rewarded with promotions to sales manager and then assistant vice president of sales where she spent five more years as a major contributor to the rapid growth of the company. She has dedicated the past five years to helping senior citizens with many aspects of their retirement needs. As the district manager for ASB, she strives to bring solutions to the many challenges of today’s retirement worries. April and her children spend most of their spare time at Ryan’s high school soccer stadium. Ryan is a starting forward (striker) for the junior varsity team. Evan attends elementary school and is focused on music, playing drums, guitar and piano. The family also enjoys many outdoor activities and frequently travels to interesting locations. Their most recent trips included the Grand Canyon, Niagara Falls and St. Lucia. □ William Penn Life 0 November 2012 0 5 nnmi,i
