Why Consider Cash-Value Insurance Policies such as Whole Life, Universal Life and Variable Universal Life?
To preserve your family’s lifestyle in the event of your death. To cover death expenses. To protect against major debts. To leave inheritance for children to cover expenses. To pay for college expenses with tax-advantaged means of borrowing against the policy. To supplement retirement income with tax-advantaged means of borrowing against the policy. Whole Life There are three main types of whole-of-life policies: Traditional whole life insurance, Universal Life Insurance, Variable life. Traditional whole life insurance. The benefits can be paid out immediately to the nominated beneficiaries without any tax liability or deductions. Second, they can be paid into any nominated bank account and any designated country. This is achieved by creating an offshore or discretionary trust. Universal Life This would suit those who need premium flexibility, especially in the early years. It is more flexible than traditional whole life because the premiums can vary from year to year and sometimes can
