Insurance, Retirement

Consider the advantages of life insurance for help supplementing your retirement plan

July 28, 2014

As you move toward retirement you may want to explore good ways to diversify your retirement portfolio. One of those ways may be life insurance. Many financial professionals view life insurance as an asset class to consider in a diversified retirement plan. It can help you build wealth, protect your assets and transfer those assets to future generations – with guarantees and tax advantages.

According to Mike Hegwood, Assistant Vice President, AMA Insurance Brokerage Marketing, many people are unaware that life insurance can be used to supplement a retirement plan. “Whole life polices provide a number of benefits – including a cash value feature that can be accessed while you’re still living. Some polices offer a fixed return on your cash; others allow you to invest in the stock market. And the tax-advantaged benefits of these instruments can make them an effective way for physicians to supplement their traditional qualified savings plans,” Hegwood said. “A financial professional could help you review your situation and determine what might be the best direction for your family and practice.”

Independent financial professionals in AMA Insurance’s Physicians Financial Partners program offer a complimentary policy review and assessment to help physicians better understand the insurance coverage they already own and how they might proceed.

The review can help answer questions like:

  • Does your current coverage accomplish your desired goals?
  • What benefits are actually guaranteed versus non-guaranteed?
  • Can premiums be reduced or more coverage obtained for the same money?
  • How can you leverage your age and health for increased benefits?

For your retirement planning and insurance needs, including AMA-sponsored plans as well as other insurance/retirement planning vehicles, contact an AMA Insurance Physicians Financial Partner. To locate a partner near you, call 1-855-210-4015, or visit

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