Whole life, Universal Life & Variable Universal Life

Critics of permanent life insurance believe that it is better or cheaper to "buy term and invest the rest". This would mean that you determine how much you would be paying for a permanent policy and invest that amount minus the amount that you are paying for a term policy into mutual funds. Studies show that less than 15% of people that buy term insurance invest the difference.

The Benefits of a permanent life insurance policy:

• Guaranteed death benefit, level premium and cash value.
• Life time insurance protection.
• Policy can be surrendered at a future time for its cash value.
• Cash value grows on a tax-deferred basis and can be used for future financial needs.

Tax Advantages:

Permanent life insurance is designed to last your whole life and at death the beneficiaries receive the benefit income tax free. Plus the cash value that grows over the years is income tax deferred. You do not owe taxes on the policy unless you cash it in.

The first step to establishing a life insurance policy is to determine exactly how much coverage is needed. Setup a meeting with a financial representative to create your financial plan.

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