Are multiple policies right for you?You may run into situations where you already have an old Whole life insurance policy and are thinking about getting another Whole life policy for yourself. Does it make sense to exchange the policy for a new policy or buy another policy altogether? When you purchase a new Whole life policy, there are many costs …
Pros▸Tax Deferred ContributionAll contributions to the qualified plans are made with pre-tax dollars.▸Tax Deferred GrowthThe dollars in your qualified plans continue to grow and work for you tax deferred. Taxes are due on all monies during the distribution phase when you start withdrawing money. ▸Catch up Contributions after age 50You will be able to add additional money in your qualified plan …
