Life insurance¹ is a unique property. It can create an estate with low premiums in comparison to the total death benefit. It also has many tax advantages and may be an ideal product for your financial plan. Uses include:
1 Note: Life insurance policies and contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Your licensed financial professional can provide you with the cost and complete details. Availability varies by insurance carrier and by state.
2 Life insurance policy cash values are accessed through withdrawals and/or policy loans. Loans are generally not taxable. Withdrawals may be taxable under some circumstances. Unpaid loans and/or withdrawals will cause a reduction in the policy cash values and death benefits. Please consult with your tax advisor for advice regarding your particular situation.
3 Guarantees are backed by the claims paying ability of the insurance company.