Permanent Life Insurance

Traditional Whole Life

Sometimes called “cash-value” or “permanent” life insurance, traditional whole life insurance is guaranteed to remain in force for the insured’s entire lifetime, as long payments are made. Whole life insurance is the most predictable type of coverage; the death benefit and cost are guaranteed.

Whole life insurance may be helpful to clients looking for the following

1. Life insurance coverage for life
2. Coverage and cash value guaranteed
3. Guaranteed level cost
4. The ability to build tax-advantaged cash value in a life insurance policy

The value of a whole life insurance policy is uncorrelated to the stock market and is largely guaranteed by the insurer, so that neither death benefits nor cash values are affected by declining markets.

Whole Life Insurance Product Specs

• Issue ages: 0 – 85 years
• Coverage amounts available: $5,000 – $10,000,000
• Many payment types: single pay, 10 pay, pay to 65 and pay for lifetime

Guaranteed Universal Life

Universal life insurance is a type of flexible permanent life insurance offering low-cost insurance protection as well as a savings element which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder’s circumstances change. Guaranteed universal life insurance offers a guaranteed level death benefit and premium usually to age 100 and beyond.

Guaranteed universal life may be helpful for clients looking for the following:

• Coverage for their entire life
• The ability to make premium payments in a flexible manner
• The lowest cost of protection for their entire life

Guaranteed Universal Life Insurance Product Specifications

• Issue ages: 0 – 90 years
• Coverage amounts available: $25,000 – $10,000,000
• Flexible premium payments
• Offers long-term guaranteed death benefit to age 100 and beyond
• Various cash value accumulation features available

Universal Life

Current Assumption Universal Life Insurance is a type of flexible permanent life insurance offering a wide range of attributes. The policy can accept additional funds within certain limits to build a cash value component within the policy. The crediting rate within the policy is determined by the underlying carrier each year and can change overtime.

This product is great for clients looking for the following:

• Cost-effective permanent coverage with potential for cash-value growth
• Insurance Coverage plus the benefit of potential cash value
• Largest amount of permanent death benefit for least amount of premium
• Willingness to accept risk of not having lifetime guarantee of values
• The ability to make premium payments in a flexible manner
• Tax-deferred growth and accumulation

Universal Life Insurance Product Specifications

• Issue ages: 0 – 85 years
• Coverage amounts available: $25,000 – $10,000,000
• Many payment types: very customizable

Indexed Universal Life

Indexed Universal Life is a type of flexible permanent life insurance offering a wide range of flexible attributes. The premium amount, type, and frequency can be designed to meet a client’s specific needs and can be changed throughout the lifetime of the policy. The funding options are also very flexible and can be designed to meet different goals and objectives. The overall crediting rate of the policy is tied to a specific market index, often the S&P 500, and can be changed throughout the lifetime of the policy. There are many options for crediting within a given index which will be presented in the policy illustration.

This product is great for clients looking for the following:

• Potential for market growth with an investment floor that can minimize downside risk
• Insurance coverage plus the benefit of cash value
• The ability to make premium payments in a flexible manner
• Tax deferred growth and accumulation
• To wait 15 or more years until first planned distribution
• The ability to add additional funds into the policy in expectation to increase cash value

Indexed Universal Life Insurance Product Specifications

• Issue ages: 0-85 years
• Coverage amounts available: $50,000 – $10,000,000
• Many payment types: very customizable