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A Personal Accumulation Strategy Using Life Insurance
For high income individuals who have maxed out their qualified retirement savings and have an insurance need, cash value life insurance can be a smart option for accumulating additional funds with flexible access to cash value as needs arise.
When structured properly, policy cash values may be accessed tax-free and may be a source of supplemental income that can be used for multiple purposes.
TURN POSSIBILITIES INTO REALITIES...
• A flexible source of cash for major expenditures such as a home addition or renovation• A vacation and adventure fund• An emergency fund for the unexpected• Supplemental retirement• Supplemental education• A fund to help start a business or to support an existing businessUnderstanding the benefits of indexed universal life insurance
Protection
Indexed universal life is a form of permanent life insurance, meaning it can be designed to last your entire life and provide a benefit to your loved ones.Growth Potential
After a policy fees and charges are paid, additional money can be allocated to indexed interest strategies. This gives the cash value the opportunity to grow.Flexible Premium
With IUL, you can make premiums contributions when you want and in the amount you want, as long as you satisfy the contract minimum.Additional benefits of an IUL
Guarantees
A guaranteed floor rate for the indexed interest strategy to create downside protectionAn initial death benefit guarantee that makes sure the contract stays in force in the early policy yearsThe guaranteed growth potentialCash for Later
Supplement income in retirement through tax-free loans and withdrawalsPay off mortgages and maintain your family's standard of livingLiving benefits are available that allow you to accelerate your death benefit to help with unexpected costs.Tax Advantages
Tax-deferred cash accumulationTax-free loans and withdrawalsNo federal tax penalty for early withdrawals before 59 1/2An income tax-free death benefit that pays out with no delay from probate
The Power of Guaranteed Floor
FLOORS
Index changes may be positive or negative. However you have the security of knowing you will never be credited less than the guaranteed minimal interest rate, or “floor.” A floor is the minimum rate of interest guaranteed by the insurance company. The floor is the minimum interest credited to the account option and ensures the index account options will always be credited with positive interest.AVOIDING LOSS CAN BE AS IMPORTANT AS REALIZING GAINS
This example helps illustrate the effects of a loss and what it takes to recover. For example, a 10% loss requires an 11% gain. A 20% loss requires a 25% gain, and so on ...
A Life Insurance policy with Living Benefits
Most people buy life insurance to leave a financial legacy for those left behind, but what if you suffer from a heart attack, cancer, or stroke, and continue living? It could cause serious financial hardship for you or your family.
That’s where Living Benefits comes in.
Offering death benefit protection, up to $2 million, as well as living benefits, Living Benefits allows you early access to the policy’s death benefit in the event of a qualifying chronic, critical, or terminal illness while you’re alive.
It's Life insurance for the living.
College Planning with Life Insurance
Planning today for your children’s college expenses can be challenging as costs continue to rise. The current annual cost for a public four-year, in-state college is $23,250, while the cost of a private nonprofit four-year college is $53,430.
To save for future college costs, many parents turn to 529 savings plans, which offer tax-deferred growth of account values and tax-free distributions when used for qualified education expenses. While 529 plans provide valuable benefits for families, using permanent life insurance as a supplement to a 529 plan can provide additional protection for your family if the unforeseen occurs while creating an additional source of tax-favored funds that can be used to help pay for future college costs or other supplemental income needs.
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