Your life may change but your coverage won’t. Help provide lifetime financial security for your loved ones, while building your wealth.
It’s guaranteed lifelong coverage that protects the people you care about. But it’s more than just insurance. Over time your policy can build value you can access for cash during your life, with certain tax implications.
You can access money in your policy through a loan or a withdrawal. And when you die, the people you’ve chosen receive a tax-free payment, similar to term life insurance.
Both participating and universal life offer lifetime coverage and the opportunity for tax-free cash growth, but they’re structured differently.
Universal and participating life insurance are the 2 forms of permanent protection. Here’s how they compare:
Participating life insurance
Universal life insurance
Ideally, you want to make sure your debts are covered, so you don’t leave major expenses behind for your loved ones.
Here are a few things to consider:
- Your income
- Net worth
- Family needs
- Other insurance you have
Generally, permanent insurance costs more than term insurance, but there are a lot of factors that determine the cost of your policy, including:
With over 170 years of experience, we have a long history of financial strength and stability. Work with one of our advisors to make a plan that works for you.