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Life Insurance >
Insurance Products > Universal Life Insurance
A universal life policy, or Tax Advantage
policy, has unique benefits which set it apart from term, permanent and
other insurance plans. The policies are made up of two components: An
insurance component, which is paid to your beneficiary as a tax-free
death benefit and an investment component, which holds funds that
can earn interest on a tax-deferred basis. You can invest a portion
of your premium into various interest
options.
What are
the benefits?
-
Tax-deferred growth
The value within your life insurance policy will grow faster than if you
had to pay income tax each year on the interest as it is earned.
-
Opportunity to pre-pay insurance costs
The value in your policy can be used to pay your insurance costs, allowing
you to take "premium holidays."
-
Minimize after-tax cost of your life
insurance The tax dollars
that you would have paid on taxable interest income can be used to pay
your insurance costs
-
Creditor protection
With a preferred beneficiary designation, the value in your policy is
protected from your creditors.
-
Unmatched flexibility
You can add coverage to your policy for your family or for your business
associates. And you can choose from a variety of interest options for your
tax-deferred account, from Guaranteed Interest to equity-linked indexes.
-
Tax-free death benefit
The entire death proceeds, including any increase as a result of the cash
value, will be paid to your beneficiary tax-free
-
Solid guarantees
All costs are guaranteed in the contract.
Here's how your Tax Advantage Life policy
works:
When you make a premium payment into a Universal Life policy, that payment is applied to the
investment account of your plan. The cost of insurance and an administration charge
are deducted monthly from your account while the balance grows. While
premiums are not tax-deductible, investment growth held in the policy is not
taxed and the death benefit (including investment growth) is paid tax-free
to your beneficiary.
More choice. More flexibility. More reasons to
choose Universal Life.
-
Superior cash value potential
-
Lower cost of
insurance
-
Lifetime premiums
or limited pay – flexible amounts, lump sum payments
-
Interest
investment bonus
-
Choice of
guaranteed rate and market-indexed investment options
-
Level or
increasing death benefit
Professional
insurance and financial advice at The President's Group.
You can count on Tax Advantage Life to
offer superior
value, flexibility and simplicity. With its many
options and features,
it will provide you with the freedom to custom design your policy to
suit your personal insurance and investment needs. Talk to us about your
future. At no obligation, we will review your personal circumstances with
you and recommend appropriate coverage. In the meantime
please use our
Needs Estimator
to help you determine a death benefit amount that is appropriate for your
situation. If you have further questions, you may visit our
Universal Life FAQ
section or contact us
directly.
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