Page 5 - The Shores of Jupiter - May '24

The Shores, Page 5
Financial Focus ®

Term Vs. Perm: Which Is and, in addition to providing a tax-free death benefit, also • Investment preferences – You may have heard the
offers a chance to build equity, or cash value, on a tax-
phrase “buy term and invest the difference.” Essentially,
Right For You? deferred basis. this just means that an investor could purchase low-cost
When determining which type of insurance is appropriate term insurance, and then invest the money that was saved
By Sally Sima Stahl for your needs, you’ll want to consider these factors: by not getting permanent insurance. This can be a valuable
If you’ve been thinking • Cost – Term insurance is generally affordable for strategy in some situations, but people often don’t actually
about life insurance, most people, which is why it may be particularly suitable invest the difference. A permanent insurance policy,
especially if you have for parents and young adults who may be at the beginning through the payment of premiums, may result in a steady
family, loved ones, or of their careers. Permanent insurance is typically more buildup of cash value or continued contributions to the
anyone who depends on you expensive, largely because it is meant to last for one’s policy’s investment components. For many people, this
financially, you might be lifetime and some of the premiums go toward building cash discipline is helpful.
curious about the different value in the policy and paying for other features. Generally, • Future insurability – If you have health issues, it
kinds of policies available. the younger and healthier you are when you purchase could become difficult to get permanent insurance after
Which type is right for you? permanent insurance, the lower your rates will be. you’ve reached the end of a term insurance policy. (Some
Essentially, you can look • Length of time insurance is needed – If you think term insurance policies do offer the opportunity to convert
at two main categories of you will only need life insurance for a certain period to permanent coverage, usually without the need for a
life insurance: term and permanent. — perhaps until your children are grown — you might medical exam.) You could avoid this potential problem by
Term insurance is a pay-as-you-go option that covers a lean toward term insurance. If you feel the need for life purchasing permanent insurance when you are still young
specific amount of time, usually 20 years or fewer. Term insurance for other goals throughout your lifetime, for and healthy.
insurance benefits are paid to your beneficiaries free of whatever reason — you might have a special needs child, Ultimately, you will need to weigh the various factors
federal income taxes if you pass away during the coverage or perhaps you want to use your policy to help pay for involved in the permanent-versus-term decision. You also
period, but there’s no opportunity to build cash value. retirement, or you wish to include the policy as part of might benefit from consulting a financial professional, who
Permanent insurance, such as whole life or universal your legacy and estate plans — you may want to consider can evaluate which type of insurance is most appropriate for
life, offers coverage for as long as you pay the premiums some type of permanent insurance. your situation. But whether it’s term or permanent, make sure
you have the coverage you need to protect yourself and your
loved ones.
This article was written by Edward Jones for use by
124 Stillwater your local Edward Jones Financial Advisor, Edward Jones,
Investors Special in Jupiter Member SIPC.
3bed + den in Indian Creek … Edward Jones is a licensed insurance producer in all states
$350,000 and Washington, D.C., through Edward D. Jones & Co., L.P.,
and in California, New Mexico and Massachusetts through
Edward Jones Insurance Agency of California, L.L.C.;
13430 158th Street N.
Need more space? Check out this better Edward Jones Insurance Agency of New Mexico, L.L.C.; and
than new house in Jupiter Farms. Edward Jones Insurance Agency of Massachusetts, L.L.C.
Built in 2020 with new pool Edward Jones, its employees and financial advisors cannot
and extra storage building. provide tax advice. You should consult your qualified tax
Your Shores Specialist Call for any Real Estate advisor regarding your situation.
Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
questions or needs
1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.

Editor’s Message

To Jupiter Mayor

Jim Kuretski

Mr. Mayor,
Thank you for your recent report of Town News. It
is meaningful information to all Shores homeowners.
All should feel appreciation for our mayor and the
special services rendered each day by a dedicated Town
government staff. We get a lot for our taxes.
Bill Thompson, Editor,
Our Village Voice

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