How Life Insurance with Amplify Can Protect Your Family and Build Your Wealth

This post is in partnership with Amplify.

 

Thinking about life insurance is something no one really wants to do but everyone really should. As parents, we have a responsibility to our partners and to our children to make sure that they are protected if something should happen to us. It’s a hard thing to think about, but Amplify Insurance is making it easier. They’ve replaced the typically disconnected and fragmented life insurance brokerage model with a platform that provides consumers with clarity and transparency to the process of purchasing a long-term plan for your family. 

 

Check out this short video we put together in partnership with Amplify to understand, in layman’s terms, how permanent life insurance can be both a protection and wealth-building tool for your family. 

With Amplify, you can invest through life insurance for your own retirement—in a high-interest savings account that averages a 7-8% return, fixed interest 3-4% return, or public equities. All your investment returns are income and capital gains tax-free!

 

You can use your “death benefit” to cover gaps in health insurance via the critical illness payout or long term care payout.

Budget-friendly policies

Permanent life insurance doesn’t have to be expensive. You can get permanent life insurance for relatively cheap prices if you talk to the right person (who can shop around for you). If you get permanent life insurance, it can be a tax-free wealth transfer tool for your beneficiaries, if you choose not to use it or don’t need it during your own lifetime.

Combine permanent and term life insurance for greater flexibility

You can combine permanent life insurance with term life insurance. Term insurance protects you in case of unexpected death, and the rest of the permanent coverage protects you from long term care needs later in life (and acts as a savings vehicle for retirement).

Lower your income tax bracket

You can lower your future income tax bracket by saving through permanent life insurance. Your death benefit, living benefit, and savings/retirement account all can be accessed tax-free. By taking out non-taxable income, you can lower your income tax bracket and save money on other investments you’ve made such as a 401K, mutual funds, or even real estate income.

Get coverage quickly, potentially without medical screening

You can have your own customized insurance plan within a few days of applying! Over 50% of Amplify’s cases are delivered via email in under 48 hours, no medical or health phone interview necessary.

Learn more about Amplify by visiting their website and following them on their newly launched Facebook and LinkedIn pages at @beamplify. Check out this introductory video for even more information!