By Mary Lou Dobbs, president, Executive Benefit Strategies Inc.

Today's trying financial environment has many business owners and their insurance agents in flux. With the financial world spinning out of control, smart business owners are looking for financial vehicles that provide recession protection for their retirement funds. And it's a common goal for the business owner to have adequate money at retirement without depleting the assets of the company to make that happen.

An increasingly popular strategy for creating a retirement income fund is using the age-old, tried and true universal life insurance policy. This product becomes more popular during a recession because it offers guarantees, a self-completion component, protection of principal, earned interest and protection from creditors. Its most appealing feature is the policyholder's ability to access money before age 59 1/2 while providing a stream of needed income.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.