When you purchased your term life insurance policy, you recognized the need to protect your loved ones after you're gone. Now, you have an opportunity to make an even greater impact on the financial security of your family by converting your term policy to permanent life insurance. In addition to offering a death benefit, permanent life insurance also offers a number of benefits to you and your family while you're living.
Permanent life insurance is a flexible financial asset that provides benefits for you and your family while you're living. As you pay premiums, the policy builds equity that grows tax deferred and could become a source of funding you can access at any age, for any reason. You can take a loan against the cash value, use it as collateral, take a portion of the cash outright or surrender the policy. No questions asked. *
The cash value of a permanent life insurance policy increases every year. Guaranteed. So when it comes to converting your term policy to permanent life insurance, time is money. A delay of just five or ten years can have a significant impact on your policy's accumulated cash value.
Contact your Northwestern Mutual financial advisor to learn more and discuss your conversion options.Let's Talk