How Safe Is My Money with a
Life Insurance Company vs. a Bank?

by | May 24, 2021

Many times we are asked, “Is my money safe with an insurance company?”  It’s a legitimate question.  After all, you are entrusting your money to an insurance company for 10, 20, 30 years or more, and even when you die, you’re counting on the insurance company to pay the benefits they promised you to your beneficiaries. 

The fact is, that insurance companies are highly regulated and they are some of the biggest and oldest financial institutions in the world.  There are, of course, some companies that are more solid than others.  That said, every insurance company is rated by several independent agencies who provide all the information you will need to know about their financial stability.

To learn more about the safety of insurance companies, click on the link below to watch a short video that does a great job addressing this issue.

You May Also Like…

Taxpayer Penalties 2023

Taxpayer Penalties 2023

Tax PlanningBradford Tax Institute, January 2023REASONPENALTY RELIEFIRC SECTIONFailure to pay0.50% of unpaid balance...

2023 Key Financial Data Guide

2023 Key Financial Data Guide

Financial Guides Happy New Year to you and your family! I hope you and your family had a safe and healthy holiday...

Investment Advisory Services are offered through Lifetime Financial, Inc., a Registered Investment Advisory. Insurance and other financial products and services are offered through Lifetime Paradigm, Inc. or Lifetime Paradigm Insurance Services. Neither Lifetime Financial, Inc. nor Lifetime Paradigm, Inc., or its associates and subsidiaries provide any specific tax or legal advice. Only guidance is provided in these areas. For specific recommendations please consult with a qualified, licensed Advisor. Past performance is no guarantee of future results. Your results can and will vary. Investments are subject to risk, including market and interest rate fluctuations. Investors can and do lose money and, unless otherwise noted, they are not guaranteed. Information provided is for educational purposes only and is not intended for the sale or purchase of any specific securities product, service or investment strategy. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER, TAX PROFESSIONAL, OR ATTORNEY BEFORE IMPLEMENTING ANY STRATEGY OR RECOMMENDATION DISCUSSED HEREIN.

This message is intended for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient, any dissemination, distribution or copying of this communication is strictly prohibited. If you think you have received this communication in error, please notify us immediately by reply e-mail or by telephone (800) 810-1736 and delete the original message.

This notice is required by IRS Circular 230, which regulates written communications about federal tax matters between tax advisors and their clients. To the extent the preceding correspondence and/or any attachment is a written tax advice communication, it is not a full "covered opinion." Accordingly, this advice is not intended and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS.