Have kids going to college soon? The latest information from the Filene Research Institute shows that two-thirds of millennials have at least one source of long-term debt. Thirty percent of millennials have more than one long-term debt source, such as student loans, mortgages, or car payments! The average bachelor’s degree holder now needs approximately 21 years to pay of his or her student loans. However, an index universal life insurance policy can help!
Funding Education with Life Insurance
Index universal life insurance can help you plan for your child’s future, today! This policy offers lifelong protection and as long as the premium is paid, you have coverage. The policy’s cash value can also link to stock market indexes to allow for cash value growth. Cash value can accrue with either two indexed accounts or a fixed-interest account. This cash value can then pay for future insurance needs, supplement retirement funds, or to send a child to school!
An Index Universal Life policy can provide flexibility when you need it! Our index universal life policies allow from flexible premium amounts and timing, and flexible death benefit options. Your premiums are also generally income-tax free. So, even if you’ve hit your retirement savings plan limit, you can still save for the future! Our Chronic Illness and Terminal Illness Accelerated Benefit policy riders are also available in most states.