Advantages of Death Benefit
Provides income tax-free money to your
named beneficiary(s) that can be used to pay funeral expenses, debt, tuition, estate taxes or
virtually any financial need you leave behind.
Can provide business security by
enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
ADVANTAGES OF LIVING BENEFITS
The cash value growth of a permanent
life insurance policy is tax-deferredą, which means you do not pay taxes on the growth of the cash
value unless the money is withdrawn.
Loans˛ or withdrawals can be taken
against the cash value of a permanent life insurance policy to help with expenses, such as college
tuition or the down payment on a home.
1. Accumulated growth may be taxable upon withdrawal. If the policy is a Modified
Endowment Contract (MEC), tax penalties may apply prior to age 59 1/2. Consult a tax advisor on your
2. Policy loans and withdrawals reduce cash value and the death benefit and may be subject to other
charges outlined in the contract.