It can help protect your business for life while getting more from your company’s assets.
As a business owner you have options: your life insurance policy can be personally or corporately owned.
In addition to providing a one-time, tax-free payout for your business if you, your business partner or key employees die, it can help you achieve more with your company’s investable assets.
Over time, your policy may build value, providing your business financial flexibility while you’re alive.
Participating and universal life offer lifetime coverage and tax-free cash growth, but they’re structured differently.
Term life insurance is a less expensive option that can help protect your business for a set period you choose.
Learn more about how term life insurance can help your business.Universal and participating life insurance are the 2 forms of permanent protection for your business. Here’s how they compare:
|
Participating life insurance |
Common features |
Universal life insurance |
|---|---|---|
|
Guaranteed money grows inside your business’ policy |
Lifetime insurance coverage |
Manage your risk profile with your advisor and choose investment accounts |
|
Conservative asset management |
Can borrow against accumulated cash values |
Cost effective |
|
Policyowner dividends
|
Guaranteed payout |
Payment flexibility |