We offer two types of cash value life insurance; whole life insurance, which features the strongest guarantees, and indexed life insurance, which offers the potential for higher growth linked to stock markets.
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1: All growth rates apply to the cash value of permanent life insurance policies, and every dollar spent on insurance premium will not go towards the cash value. Depending on individual preferences policies can be designed with different amounts going towards the cash value, which is explained which is explained in this article . Whole and indexed universal life insurance are not registered investment products and past performance is no guarantee of future results.
2: Charges, dividend rate, and loan interest rates on a cash value life insurance policy might fluctuate, and to keep the policy in good order it is important to keep the loan balance lower than the cash value by repaying any loan in addition to paying premiums. If the loan balance exceeds the cash value and there is no repayment of the loan or additional premium payment to increase the cash value, the policy can become cancelled, which can lead to a loss of the principal as well as a tax liability. There are however policies with so called overloan protection which protects against this risk.
3: While the death benefit of a life insurance policy is typically tax free (unless it has been sold to an investor), any withdrawals in the form of dividends or policy loans are only tax free if the policy has been funded according to IRS guidelines, and the policy isn't surrendered (sold back to the insurance company) or lapsed (expired due to lacking payment). White Swan will help you to keep your policy tax efficient.
4: Money accessed from cash value life insurance is only received tax free if the policy has not been classified as a Modified Endowment Policy (ie. have been funded too quickly). Further, direct withdrawals from the policy are only tax free up to the point of the cumulative premiums paid into the policy. After the total premiums paid into the policy has been withdrawn, a policyowner can still access funds tax free through loans secured by the policy, as long as the policy stays in force.
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