Life Insurance

Life insurance can be an important investment tool for ensuring the secure future of your family. Generally, the insurer promises to pay a designated amount of money in exchange for premium payments. When one passes away, in some cases with a terminal or critical illness, you can begin to receive payments. 

There are two types of insurance categories. The first is a protection policy, such as Term Insurance, which is created to provide a lump sum payment when death occurs. This type of insurance is what most people think of when they think of life insurance. However, there are permanent life insurance opportunities one can invest in for better benefits, guaranteed cash values, and fixed and predictable premiums.

Permanent life insurance policies (usually whole, universal, or variable) accumulate cash value up to the date of maturation.  The owner can access the funds by withdrawing money, borrowing the cash value, or giving up the policy and receiving the surrender value.  For individuals, life insurance can protect your family and future generations. As long as you do not sell, withdraw from, or surrender the policy you can defer income taxes on the gains in cash value, which is a major factor when planning for the future.

Tax rules in conjunction with life insurance are complex and can change. At Finely Davis Financial Group, we help you create and manage life insurance policies for both protection and investment purposes. Let us help you decide what will grow your wealth and create a stable financial picture for your future.

If you are an individual interested life insurance, please give us a call at 541-342-2224 to schedule an appointment.

For further information, please see Investments and Tax Strategies.