Term Life Insurance
Term Life Insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.
Cost: Your monthly payment is mostly based upon personal health history, age, term and amount of coverage. Term Life Insurance
Term: Typically, a term life insurance policy's term ranges from 10 to 30 years.
Term Life Insurance
Term Life Insurance Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. There are many types of whole life policies, but the oldest and still the most common type of whole life policy is ordinary level premium whole life insurance, or simply ordinary Term Life Insurance
Tax-free death benefit: Certainly, one of the biggest benefits of life insurance is that the death benefit proceeds are free from federal income taxation to survivors.
Tax-deferred growth of cash value:
Term Life Insurance Permanent life insurance policies also allow the funds inside of the cash or investment component to grow on a tax-deferred basis.
Additional growth potential: With IUL, policy holders can obtain additional growth potential in their cash account. This is because the funds are benchmarked off of an underlying index (or in some cases, more than one index). In doing so, interest is credited to the account based upon the market performance, but without the downside risk of loss of principal. Term Life Insurance
Protection of principal: Many IUL policies will protect policy holders' principal from underlying market losses. Due to an annual "reset" feature, cash value gains can be "locked in" each policy year, and they can never be lost due to future market losses. This essentially means that policy owners can participate in market growth, but they cannot lose principal in the event of a market downturn — almost like the best of both worlds Term Life Insurance
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