1Policy loans and withdrawals will reduce available cash values and death benefits and may cause the policy to lapse, or affect guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. Tax laws are subject to change and you should consult a tax professional.
This document is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market or recommend any tax plan or arrangement. Individuals are encouraged to talk with a qualified professional before making any decisions about their personal situation.
Investing involves risk, including the potential loss of principal.
Guarantees and protections provided by insurance products are backed by the financial strength and claims-paying ability of the issuing insurance carrier. If properly structured, proceeds from life insurance are generally income tax free. Life insurance agents do not give legal or tax advice.
Our firm is an independent financial services firm that utilizes a variety of investment and insurance products.
Insurance products are offered through the insurance business Dennis Kagel Financial Services. Dennis Kagel Financial Services is also an Investment Advisory practice that offers products and services through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. AEWM does not offer insurance products. The insurance products offered by Dennis Kagel Financial Services are not subject to investment Advisor requirements.