Build cash value
Unlike traditional retirement plans, there’s no age restriction for taking a tax-advantaged distribution from the cash value of your life insurance. You can use these distributions for a down payment on a house, supplemental retirement income, a new business, college funding, and more.
Grow your money tax-deferred
Life insurance does not have contribution limits like retirement accounts, which can make it a great place to build wealth over time, helping to secure your financial future. This slow and tax-deferred accumulation can help a policy’s cash value potentially grow faster than it would in a taxable account.
Add on an ABR (Accelerated Benefit Rider)
Some policies give you the flexibility to accelerate some of your death benefit into a living benefit. So, in the event you develop a chronic or terminal illness, you can use these funds for your medical care, home modifications, and more–saving your family the financial burden.