Supplemental Retirement Planning: Life Insurance
You’ve worked hard and dedicated all your resources to build and grow your business into a successful enterprise. You shouldn’t have to make the same sacrifices during retirement. When the time comes to move on to the next chapter in you life, will you be prepared?
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What is it?
Retirement planning is about creating a strategy that helps ensure the lifestyle you've grown accustomed to will continue long after you retire. Careful preparation today can help make this important phase of your life a reality tomorrow.
How is it used?
Life insurance can be a key component in a diversified retirement planning strategy. As a small business owner, you may be limited in your qualified retirement planning options. Life insurance can provide an alternative to supplement the retirement funding vehicles you already have in place.1
What are the benefits?
Life insurance pays a death benefit, generally income-tax free, to a beneficiary upon the death of the insured. In addition, many forms of life insurance accumulate a cash value on a tax-deferred basis. This cash value can be accessed for a variety of life's opportunities and challenges, including supplemental retirement income.
What are the different types of life insurance products that can help meet the retirement planning needs of you or your organization?
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Universal Life
Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges.
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Variable Universal Life2
Variable universal life insurance is a flexible premium, permanent insurance product combining death benefit protection with the ability to allocate net premiums and account values amounts among divisions of the Separate Account Divisions and Guaranteed Principle Account.*
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Whole Life
Whole life insurance provides protection for a lifetime as long as premiums are paid. It offers guarantees that you can’t find in other forms of life insurance, including guaranteed premiums that will not increase, a guaranteed death benefit and guaranteed cash value growth.
Prefer to speak to someone about life insurance products?
1Distributions under your policy (including cash dividends, withdrawals and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (your cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to 10% tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.
2Variable life insurance policies are sold by prospectus. Before purchasing a variable life insurance policy, investors should carefully consider the investment objectives, risks, charges and expenses of the variable life insurance policy and its underlying investment choices. For this and other information, obtain the prospectuses for the variable life insurance policy and its underlying investment choices from your registered representative or click here for our financial documents. Please read the prospectuses carefully before investing or sending money.
Principal Underwriter
MML Distributors, LLC
1295 State Street
Springfield, MA 01111-0001 |
Wholly owned subsidiary of
Massachusetts Mutual Life Insurance Company
1295 State Street
Springfield, MA 01111-0001 |
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Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual), 1295 State Street, Springfield, MA 01111-0001 and C.M. Life Insurance Company and MML Bay State Life Insurance Company, 100 Bright Meadow Boulevard, Enfield, CT 06082. Principal Underwriters: MML Distributors, LLC (MMLD) and MML Investors Services, Inc., (MMLISI) Members FINRA (www.finra.org) and SiPC (www.sipc.org). MMLD and MMLISI are subsidiaries of Massachusetts Mutual Life Insurance Company, 1295 State Street, Springfield, MA 01111-0001.
CRN201009-107535
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