Not every life insurance policy provides you all of these benefits. Our experienced Life Insurance Planning specialists will discuss your needs in detail, and then customize a life insurance plan that helps meet those specific goals. Some of the life insurance planning tools and products available to our advisors include:

• Term Life Insurance: If you have a specific time-horizon over which you need protection, then Term Life Insurance policies are definitely worth considering. These policies are designed to provide short to intermediate term coverage at an affordable cost. For instance, if you have young children whom you wish to provide for until they are older – say 15 to 20 years – or if you have an unpaid mortgage that you want your family to pay off in the event of your untimely passing, then a Term Life policy is worth considering
• Permanent Life Insurance: Permanent life policies not only provide insurance protection for life, but are also a great way to grow the value of your policy. The enhanced cash value might then be tapped subsequently, to help meet future needs, such as funding college/university education of a child, or creating an additional retirement income stream
• Participating (or Whole) Life Insurance: Depending on what your investment goals are, our insurance advisory team might recommend a Participating Life Insurance product for you. With these products, the cash value and death benefit payout of your policy can experience tax-advantaged growth within the policy. You might also be eligible to borrow tax-free funds (for any purpose you might deem fit) against the cash value of your policy
• Universal Life Insurance: If you are in search of higher savings and earnings potential from your life insurance policy, then a Universal Life Insurance might be what our advisers recommend. These policies also offer great flexibility, as the amount insured can be changed, and premiums can be adjusted (increased, deferred, decreased), while enabling policy-holders to also withdraw part of the cash value
• Indexed Universal Life Insurance (IUL): This is a type of permanent life insurance. It stays in force as long as you stay current on your premium payments or until you reach the maturity date specified in the policy. If the index has gained value, your cash value will rise. IUL policyholders are generally protected from a drop in the index because of a “floor.” The interest rate credited to the account will never be less than the floor, which is often 0%. So if your index lost 10%, 0% will be credited, and your cash value won’t lose 10%.
• You can borrow against your cash value through a policy loan or withdraw cash value. When you die, your beneficiaries receive a death benefit, but the death benefit amount will be reduced by any loans not paid back or withdrawals you’ve taken from the cash value.
• Variable Life Insurance: If you are someone looking to leverage stock market performance through your insurance policy, then a Variable Life Insurance product might be what you need. They provide policy-holders the option to invest their cash value in a host of insurer-recommended stocks, bonds, money-market funds and other investment products. Our insurance specialists will make you aware of the all the risks and opportunities associated with a variable insurance product

*The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.

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