Cost effective temporary life insurance. These policies provide the highest benefit during a specific time period for the lowest cost. Contact us to see which carriers have the best rates in your area. Benefit amounts for $100,000 and up.
Permanent life insurance that accumulates cash value, benefits increase via dividends, and premiums normally are not forever. These policies are not always the lowest cost solution; however, they are considered one of the more conservative solutions for a multiple of reasons. We typically use the Guardian Life Insurance Company of America for whole life policies.
Understanding the Value Behind Whole Life Insurance
Whole life insurance provides:
Permanent life insurance that accumulates cash value (IUL ties cash value accumulation to market indices). These policies are commonly used for estate planning and the transfer of wealth. Life insurance death benefits are income tax-free.
This type of permanent life insurance is commonly referred to as life insurance with retirement planning (LIRP). The premiums are flexible and policies have investment options for accelerated cash value accumulation. Policy premiums tend to be less expensive than whole life policies; however, VUL premiums do not end.
These permanent life insurance policies cover the lives of two insureds. Policies that cover the life of two insureds often have a lower premium thus leaving a greater tax-free death benefit to the beneficiaries. These policies are primarily used for the tax-free death benefit to pass wealth to a loved one.
Life insurance is intended to provide death benefit protection for an individual’s entire life. With payment of the required guaranteed premiums, you will receive a guaranteed death benefit and with Whole Life Insurance guaranteed cash values inside the policy.
Guarantees are based on the claims-paying ability of the issuing insurance company. Dividends are not guaranteed and are declared annually by the issuing insurance company’s board of directors. Any loans or withdrawals reduce the policy’s death benefits and cash values and affect the policy’s dividend and guarantees. Life insurance should be considered for its long-term value. Early cash value accumulation and early payment of dividends depend upon policy type and/or policy design, and cash value accumulation is offset by insurance and company expenses. Consult with your Guardian representative and refer to your whole life insurance illustration for more information about your particular whole life insurance policy.
Samuel B Lingo is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 419 Plum Street; Cincinnati, OH 45202. Phone: (513) 579-1114. Securities products and advisory services offered through PAS, member FINRA, SIPC. Mr. Lingo is also a Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Lifetime Financial Growth is not an affiliate or subsidiary of PAS and is not registered in any state or with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. 2024-167888 Exp. 3/26.
The Guardian Network® is a network of preferred providers authorized to offer products of The Guardian Life Insurance Company of America (Guardian), New York, NY and its subsidiaries. Lifetime Financial Growth is an independent agency and not an affiliate or subsidiary of Guardian.
The Living Balance Sheet® and The Living Balance Sheet® Logo are service marks of The Guardian Life Insurance Company of America® (Guardian), New York, NY. © Copyright 2005-2024 Guardian.
This website is intended for general public use. By providing this content, Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity.
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