You’ve got this. Your career is on fire. Your personal life is right where you want it. You’re not just a money earner — you’re your own CFO. You have a solid financial strategy to reach your goals — short-term, long-term, and all the terms in between. And you know what? Your success is worth protecting.
After all, you know how quickly the unexpected can derail a plan. And it’s not just about you. People are counting on you — in fact, 54% of partnered women are their household’s main earner.1 You’re a child raiser and a parent caregiver — and you’re more likely than a man to put your career (plus your income and retirement savings) on pause to provide that care.2 Maybe you’re building a business and volunteering, to boot.
That makes it important to have a nimble financial strategy — so you can easily adjust as your life unfolds and you face changes, both planned and unexpected. Life insurance can be a powerful tool to help you do it.
The Many Uses of Life Insurance
A permanent life insurance policy not only provides a death benefit to protect your loved ones but also accumulates cash value that you can access income-tax-free and use for anything — soon, later, or far into the future.* Here are a few examples.
Provide capital to turn an idea into a real business and provide income while it gears up.
Support education goals, from an elite grade school to college, with more funding flexibility than a 529 plan.
Help provide the financial freedom to take a career break while raising your children or caring for an aging family member or friend.
Complement your retirement savings by filling an income gap with income-tax-free funds if you retire early and want to hold off on Social Security benefits.
Help offset fluctuations in your IRA or 401(k) and other market-based assets during retirement, giving you an income stream while those assets recover.
Leave your legacy with a tax-efficient transfer of wealth to the next generation. Or the one after that. Or your favorite charity.
Pay for “the dream” — whether it’s a bucket list vacation, a wedding, a second home, or, anything else.
*Accessing cash value will reduce your policy death benefit and values, may result in certain fees and charges, and may require additional premium payments to maintain coverage. Ask your financial professional for details on accessing your cash value, including how it might impact the coverage guarantees and situations when the values you access could be taxable. Always consult your tax advisor before accessing a policy’s cash value.
1. “Younger Women Are Increasingly Earning the Title of ‘Breadwinner,’” 2021 Wells Fargo survey, reported in Business Wire, March 8, 2021.
2. “Women Bear the Brunt of Elder Caregiving,” MyElder.com, November 2021.
3. “Life Insurance Brief: U.S. Women,” LIMRA, 2022.