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On Target Financial
5301 SW 7th Street, Topeka, KS 66606
Phone: 785-272-5000
Fax: 785-272-6725
Joseph G. Prokop, CFP®, CRPC®
Website: www.ruontarget.com
July/August 2021
Life Insurance Roles
Life insurance is versatile and can play a variety of roles in a financial plan.
Tap Your Policy’s Cash Value.
You can supplement your retirement income by accessing your policy’s cash value or borrowing against it. Remember that loans and withdrawals may reduce the amount of the policy’s death benefit.Include an Accelerated Death-Benefit Rider.
You can use the policy’s death benefits if you’re diagnosed with a terminal illness that will substantially shorten your life. Using the benefit will reduce the death benefit for your beneficiaries.Leave a Legacy.
Life insurance can be used to benefit loved ones or to make a charitable donation to an organization that’s important to you.Replace Lost Income.
Social Security and pension benefits typically stop at your death, potentially leaving your spouse with an income deficit. Life insurance proceeds can make up the shortfall.Pay Final Expenses.
Life insurance proceeds can be used to pay your funeral expenses.CONTACT US
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Investment advisory services offered through Cambridge Investment Research Advisors, Joseph Prokop, Investment Adviser Representative. Cambridge and On Target Financial are not affiliated.
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