And you may be surprised that life insurance can be a part of this financial strategy.
Cash value life insurance – such as fixed index universal life (FIUL) insurance – can help diversify your financial portfolio by offering protection, flexibility, and tax advantages.
FIUL provides protection
Death benefit protection
Accumulation protection
FIUL offers flexibility
Flexible premium
Flexible access
Three tax advantages of FIUL
Tax-deferred accumulation value
Income-tax-free loans and withdrawals
Income-tax-free death benefit
Our video can help you better understand some of the challenges you may face in retirement – and show you how an FIUL policy can help address these common concerns.
1 Policy loans and withdrawals will reduce the available cash value and death benefit and may cause the policy to lapse, or affect guarantees against lapse. Withdrawals in excess of premiums paid will be subject to ordinary income tax. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. If a policy is a modified endowment contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 59½ on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change and you should consult a tax professional.
FIUL is subject to health and financial qualifications.
Diversification does not ensure a profit or protect against loss.
This content is general information for educational purposes, and is not intended to constitute fiduciary advice. Please consult your financial professional for a specific recommendation about purchasing this product.
This video is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that the issuing company, its affiliated companies, and their representatives and employees do not give legal or tax advice. You are encouraged to consults your tax advisor or attorney.