Cash Value Life Insurance Features Include:
Immediate Death Benefit During your working years, your family is protected by the life insurance. In the event of your premature death, income-tax-free benefits are paid to your family.
Tax-Deferred Growth Under current law, the annual growth of the cash value in a cash value life insurance contract is not subject to current income tax.
Flexibility Certain types of cash value life insurance allow you to increase or decrease your premium payments, or make large, single premium payments.
Access to Cash Values You can borrow or withdraw life insurance cash values prior to age 59-1/2 without tax penalty.*
Ownership Since you own the policy, benefits are not affected by changes in employment or by changes in Social Security or employer-provided pensions.
Disability Protection If you become disabled, the waiver of premium benefit can take over your premium payments for you.
Tax-Advantaged Retirement Income The cash value in the policy can be converted to a retirement income that is partially or fully free from federal income tax.*
* Withdrawals and loans will reduce the policy’s death benefit and cash value available for use.
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