Helping you plan for the future,
so you can focus on the present.
The options for securing your financial future can feel endless. And when it comes to insurance, no two clients have the same needs. That’s why we create customized insurance plans that fit each individual’s unique goals and objectives. Whether you’re seeking help with life, disability, long-term care insurance or fixed annuities, GE Insurance for Life’s goal is to help you have comfort knowing you’re protected.
We give you confidence in your financial future, so you can focus your energies on everything else you love in life.
Planning your financial future can be intimidating. You deserve someone on your side who will guide you and educate you. At GE Insurance for Life, we care. Unlike some of the big firms that view people like numbers, we treat our clients like family.
MEET GLENN
When most people think of life insurance, the first thing that comes to mind is the death benefit. While this is one huge aspect of how life insurance can help, there are actually many other ways it can help improve your life, later down the road and right now.
A goal of ours is to educate folks on how various types of insurance can work for you, setting you and your family up for a peaceful present and future.
For example, life insurance can help you…
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.
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.
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.
The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable. An individual should have a need for life insurance and evaluate the policy on its merits as life insurance. Optional benefit riders are available for an additional fee and are subject to contractual terms, conditions, and limitations as outlined in the policy and may not benefit all investors. Any payments used for covered long-term care expenses would reduce (and are limited to) the death benefit or annuity value and can be much less than those of a typical long-term care policy.
Loans and withdrawals, if taken, will reduce the death benefit. Loans and withdrawals from life insurance policies that are classified as modified endowment contracts may be subject to tax at the time that the loan or withdrawal is taken and, if taken prior to age 59½, a 10 percent federal tax penalty may apply. If tax-free loans are taken and the policy lapses, a taxable event may occur. If you are considering the use of policy loans as retirement income, you should consult your tax professional regarding potential tax consequences that may arise if you do not make necessary payments to keep the policy from lapsing.
The optional Accelerated Benefit Rider provides for a partial acceleration of the policy death benefit in the event that the base policy insured is certified by a licensed physician as being chronically ill or terminally ill. By taking an accelerated death benefit payment, a lien is created against the policy death benefit. The lien accrues carrying charges at an adjustable rate we declare. The lien, including the lien carrying charges, will be deducted from the total death benefit otherwise payable to the policy beneficiary(ies) and will reduce the cash value available for policy loans, surrenders, or the exercise of any non-forfeiture option. The required premium for the policy must still be paid even if an accelerated death benefit is taken. If an accelerated benefit is taken and the policy lapses or otherwise terminates, a taxable event may occur. Any death benefit provided by an optional Accidental Death Benefit Rider is not available for acceleration under this rider. Any accelerated benefit you elect to take under this rider may be taxable. Consult your tax advisor on all tax matters. Adding the rider to a life insurance policy or the taking of rider benefits may affect eligibility for certain public assistance programs and government benefits. The Accelerated Benefit Rider is not designed to be a substitute for long-term care insurance, health insurance, or nursing home insurance. Rider benefits and features may vary by state.
Life insurance guarantees are based on the claims-paying ability of the issuing insurance company.
