SIS GROUP LLC.

LIFE MENU

Life and Health - Whole/retirement option

   A permanent life insurance policy can supplement your retirement with extra funds. The majority of permanent life insurance policies have an added "cash value" component, which acts as a savings account. These savings can be accessed without canceling your life insurance policy.

  If you ever find yourself in a tight bind because of excessive expenses or if you want to splurge on a vacation you've always wanted to take but never had the time, the money you've accumulated in your life insurance's savings account can be used. Although you are unable to actually withdrawal the money, you can take out a loan from the insurance company up to the cash value amount you have saved.

   The insurance company charges you interest on the loan, but it's significantly lower than the interest any other financial institution would charge you. Unless you reimburse the insurance company for the loan, your policy's death benefit will be reduced by the amount of your loan.

   The real value of this feature is being reassured that unforeseen costs will not put you in financial jeopardy during your retirement.