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Permanent Life Overview

Permanent Life insurance offers lifetime coverage with the potential for cash value growth. It also provides a long-term financial solution, retirement income and ensures legacy planning. We offer products that have outstanding ratings and are backed by companies that have been in business for a long time

Indexed Universal Life Insurance Policy (IUL) is a form of permanent life insurance that might be the answer you've been looking for.

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Sarah and her husband, David, might consider purchasing permanent life insurance when they want coverage that extends beyond a specific term, such as term life insurance, and offers additional benefits like cash value accumulation, lifelong coverage and income during retirement.

They are now planning for the worst, the best and everything in between. Permanent life insurance, covers long-term financial planning goals, such as leaving an inheritance, providing for final expenses, or creating a source of tax-deferred savings. Permanent life insurance can also be used as a tool for estate planning, charitable giving, or business succession.

It's important to note that permanent life insurance typically comes with higher premiums compared to term life insurance. So, Sarah and David should carefully assess their financial situation and long-term goals before deciding to purchase permanent life insurance. If they have the means to afford the higher premiums and value the benefits of lifelong coverage and cash accumulation, then permanent life insurance could be a suitable option for them

Permanent Life Benefits

Advantages of Indexed Universal Life (IUL):

  • Zero-Floor Guarantee: Ensures that your capital is protected from market downturns. Very risk-averse growth.
  • Index Growth Potential: The cash value has the potential to grow based on the performance of a selected stock market index, offering an opportunity for higher returns compared to traditional fixed policies.
  • Ability to Borrow Against Cash Value: Be your own bank. This is the most outstanding feature of IUL. Ability to borrow against the accumulated cash value, for life incidentals like education expenses, home improvements, or unexpected emergencies. The borrowed amount can be repaid over time, offering flexibility and control over your financial resources.
  • Retirement Income Tool: Serves as a powerful tool for retirement Income. This can supplement retirement savings and provide an additional stream of funds during the golden years.
  • Estate Planning Advantage: Creates a lasting legacy. As an effective estate planning tool, it allows policyholders to pass on wealth to the next generation tax-free. The death benefit is generally income tax-free and can help beneficiaries cover estate taxes, ensuring that the wealth you've worked hard to build is preserved for your loved ones.
 

Consider the Long-Term Benefits:

  • Tax Advantages: The cash value grows tax-deferred, meaning you won't pay taxes on the gains until you make withdrawals, leading to efficient wealth accumulation over time.
  • Flexibility in Premiums: IUL policies typically offer flexibility in premium payments. Policyholders can adjust their premium payments based on their financial situation, giving them the ability to tailor the policy to their evolving needs.
  • Market Participation Without Direct Risk: With IUL, you can benefit from market growth without directly exposing yourself to market risk. This balance makes IUL an attractive option for those seeking potential returns without the volatility associated with direct stock market investments.
 

In conclusion, Indexed Universal Life insurance stands out as a dynamic financial tool that combines the benefits of life insurance protection with the potential for cash value growth. Whether you're looking for a secure retirement income source, a flexible borrowing option, or an efficient estate planning strategy, IUL offers a comprehensive solution.

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