Whole life insurance is a permanent policy. It is also called or ordinary life. The plan was created to stay in force throughout the insureds lifetime. As long as the policy owner pays the agreed-upon premium under the policy, the policy remains in effect, regardless of any changes in health or general economic conditions.

Premiums for most whole life policies are level or unchanging. Policy costs are deducted from each premium payment, and the net amount is placed in an interest-bearing account. Over time, a whole life policy can develop cash value. The accumulated cash value funds a portion of the death benefit, which enables the insurer to pay a policy ‘s full death benefit while keeping premiums level. The cash value can potentially be withdrawn or borrowed for many different purposes

Whole Life is available in a variety of designs and has several features and options.

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Guaranteed Universal Life Insurance is a product that can provide death benefit guarantees at a lower premium outlay than Whole Life Insurance. It does this by reducing or removing the cash value element from the product. GUL as its called in the industry can provide;

• Financial protection—guaranteed death benefit up to a lifetime and the assurance that market conditions won’t affect your coverage

• Guaranteed fixed premium rates—that won’t increase years from now
• Customize your policy and select the coverage amount, duration, and premium to meet your needs and budget
• A return of premium option—giving your client flexibility if their needs change in the future

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Guaranteed Variable Universal Life Insurance is a product that can provide death benefit guarantees at a lower premium outlay than Whole Life Insurance. However, unlike Guaranteed (Fixed) Universal Life, Guaranteed Variable has an investment component that may or may not be suitable. The policy can provide;

• A lifetime guaranteed death benefit regardless of market performance (Requires No Lapse Feature or Rider)
• Access to potential tax-advantaged cash in the future through loans or withdrawals (Which can affect the death benefit and cash values and may cause taxation)
• Flexibility to pursue the policy investment options you want for growth potential, without impacting the guaranteed protection
• Generally, a diverse portfolio of investment options
• Optional protection can cover long-term care expenses due to temporary and permanent conditions when your primary goal is death benefit protection through an array of carrier LTC and Chronic Illness riders.

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Securities offered thru the Leaders Group, Inc. Member FINRA/SIPC, 26 W. Dry Creek Circle, Suite 800, Littleton, CO 80130, (303) 797-9080

IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (including attachments), unless otherwise specifically stated, was not written to be used and cannot be used for the purpose of (1) avoiding any penalties that may be imposed under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any tax-related matters addressed herein. 

Federal income tax laws are complex and subject to change. The information in these presentations is based on current interpretations of the law and is not guaranteed. This does not constitute legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.)

FINRA BROKER CHECK

Universal life insurance contracts differ from traditional whole life policies by separating and identifying the mortality, expense, and cash value parts of a life insurance contract.

Dividing the policy into these three components allows the insurance company to build a higher degree of flexibility into the policy. This flexibility allows (within certain limits) the policy owner to modify the policy face amount or premium, in response to changing needs and circumstances.

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