Life Insurance is one of the oldest ways that American's have used to save money and one of the oldest pension vehicles available. Indexed Universal Life Policies are is like a whole life policy on steroids when it comes to building cash value.
Indexed Universal Life
Indexed universal life is a form of universal life insurance and is considered to be one of the most flexible types of life insurance. This flexibility allows you to adjust the amount of your policy coverage, (also called the face) amount, and the premiums you pay. You also have the potential to build cash value in your policy and if enough value accumulates, you may even be able to stop paying premiums. Or, you can continue to pay additional premiums to accumulate even more cash value that you can access through policy loans and withdrawals later in life. Indexed Universal life polices can offer:
Upside Potential with Downside Protection
Indexed products credit interest based on the changes in value of a major market index. However, your policy can never lose value because there is a 0% floor built in which allows you to take advantage of the upside potential of the index while also having downside protection in the event the index drops below 0%.
Your loved ones depend on you for their present needs and their future financial security. First and foremost, you need to protect the income(s) on which everything you have, everything you’re doing and everything you’re planning are based especially if you have family members depending on you for
financial support. As with all life insurance policies, the primary purpose is to provide a benefit to your family at your death. Each premium payment you make into your policy goes towards this death benefit. In the event of your death, your family will receive this death benefit, income tax-free. They can then use these funds to pay taxes and other final expenses, maintain their lifestyle and protect their future fi nancial security or to even pay education expenses for your children.
Income for Life
The fear of outliving retirement income has become a very realistic concern to many who are facing retirement, and for good reason. Growing old isn’t what it used to be, and in many ways, that’s a good thing. People are not only living longer, they have better educations – resulting in better health, higher income, and a higher standard of living in retirement. But, as Americans continue to live longer, a new challenge presents itself: “How do I make sure my retirement income lasts?” Fortunately, there may be a simple solution. The Lifetime Income Benefi t Rider (LIBR) is automatically added to your policy,
offering you a valuable option later in life. Once qualifi cations are met and the rider is exercised, LIBR guarantees you a stream of income for the rest of your life – money you can’t outlive.
Living Benefits (See Jessica's Story Video)
Medical conditions, illnesses or injuries, although not always fatal, can have a devastating
impact on your lifestyle, your independence and your ability to earn an income. They can
even deplete your savings in no time at all. Accelerated Benefits Riders are optional, some
of the companies that we represent offer these at no-additional cost riders that can allow
you to access all or part of your death benefit, while living, if you experience a qualifying
terminal, chronic, or critical illness, or critical injury. The use of the benefit is unrestricted
with the exception that ABR proceeds for chronic illness in the state of Massachusetts can
only be used to pay for expenses incurred for Qualified Long-Term Care services. Since
the benefit is unrestricted, once you qualify, you can use the benefit for any expense.
Expenses might include, but are not limited to: - Household expenses - Adult Day Care - Home modifi cations - Regular bills - Nursing home care - Quality of life expenditures.
To see how the indexed universal life can help you, contact us at one of the numbers listed at the bottom of the page. If you would like us to contact you click here to leave us your information.