Higher income tax rates are now a reality. Worried about the impact of higher tax rates on your disposable income? While permanent life insurance is primarily intended for death benefit protection, an existing permanent life insurance policy can provide potentially tax-free withdrawals, when your protection needs decrease. (The cash value in a life insurance policy may be accessed through withdrawals and policy loans. Loans accrue interest at the applicable rate. Loans and withdrawals will decrease the cash surrender value and death benefit.) Seek tax advice from your own tax adviser. New York Life Insurance Company and its agents do not provide tax or legal advice
Posted on: Wed, 17 Jul 2013 15:08:29 +0000
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