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Is Switching from Term to Perm Right for You? – Life Happens

Savings Corner

You want to build cash value: Permanent life insurance policies build cash value over time, which can be a valuable asset for a variety of purposes. You could borrow cash value for things like college tuition or retirement income, for example.

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Cash-Out Refinancing: How It Works, When To Do It

Savings Corner

Paying down your mortgage helps build equity in your home, but you don’t have to wait until you completely repay it, or sell the property, to access that equity. You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs.