According to Associated Press statistics, 4 out of 5 U.S. citizens are currently unemployed, and most people have a lack of confidence in the economy. The U.S. Census Bureau measures poverty a number of ways, but typically if a family’s income is less than their threshold, than that family is considered to be in poverty.
The average middle class American earns around $45,000 per year, a number that dropped by 40 % since 2010. One of the reasons why living in the United States is such a coveted position, is that our middle class has been known as the wealthiest in the world. Now, that is not the case. CNN Money reported that the Unites States ranks 19th among the world’s top 20 countries.
It doesn’t take statistics to prove that most of us have felt a financial pinch since the late 2000’s.
Depending upon your age, you either still lament about the devastating 401(k) loss, or you might just wince, knowing you have more time to recover. Regardless of being young or old, working people alike are still asking experts about how to save their money and protect themselves from future downturns.
Utilizing the Right Financial Strategies
Each financial product comes with a specific purpose, and at times some strategies are better suited than others, however Cash Value Life insurance is a way to keep yourself and family safe when catastrophe happens.
With cash value insurance, or traditional life insurance, you receive a lifetime of coverage with tax-deferred savings (if not tax-free savings depending on how your policy is structured). The benefit of a cash value policy allows you access to liquid during the lean times of your financial life.
A Savings Account with a Steady Return Rate
Another benefit to utilizing a cash value policy is that when you do borrow against yourself, or remove liquid from your policy, you are still gaining a steady rate of return on the principal policy value. Owning a whole life insurance policy is a win-win.
With Whole Life insurance your money receives protection in a secured asset as well as allowing you liquid cash when you need it.
Visit Life Insurance for You to realize the many advantages that Whole Life Insurance can offer.