Permanent life insurance assures a sum due to be paid at the maturity of the policy (assuming the policy is continued) and the policy generates a cash value. It provides protection for your entire lifetime in most cases.
Regardless of when you die, as long as premium payment is up to date, your beneficiaries will receive the proceeds, generally income tax free. Permanent life insurance works to meet long-term requirements; has level premiums and a cash value that grows tax deferred.
• Dividends can take care of premium payments.
• Total death benefit can be grown along with your coverage without increasing your premium.
• Premiums, although higher on a permanent life insurance policy, contribute to the growth of the policy’s cash value.
• Permanent life insurance is flexible and provides you dynamism to change your plan according to your present needs.
• Protection of funds which are a part of your portfolio.
• Cash value growth over time.
• Tax benefits
• Dividends providing competitive returns.
• An asset that is immune to recession.
Access to Cash Value
The amount generated over the years in the cash value account can help you meet your urgent needs as well as achieve financial goals. It helps to:
• Be a crutch during your retirement
• Fund your child’s education
• Provide a viable option where heavy down payment of funds is involved
• Carry out a new business venture
• Meet family emergencies
• Save tax
Over the past few years, the need for permanent life insurance has been felt by people belonging from all strata of society. Today, people are using permanent life insurance for the powerful use of its cash values and the freedom it provides in retirement, along with its ability to leave a legacy to family or charity. In these circumstances, permanent life insurance makes it more than just a death benefit, it becomes an asset.
Get a life insurance quote through universal life to protect the people you love. Customize your policy with options that best meet your needs:
Universal Life Hong Kong: Universallife.com.hk
Universal Life Indonesia: Universallife.co.id