Living a Legacy takes intention, how will you help your kids have a better starting point than most of us did?
Living a legacy is helping your children develop the skills they need to succeed on their own – living them some cash would also be helpful.
If you have a child, you may want to know about an unconventional and often underutilized way to help pay the tuition: your permanent life (whole life or universal life) insurance policy.
Life insurance is a contract between an insurer and a policy owner. A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured dies in exchange for the premiums paid by the policyholder during their lifetime.
Permanent life insurance works as a college savings vehicle: For every dollar you pay in premiums, a portion goes towards the death benefit and other portion is diverted to a separate cash-value account
Permanent Life Insurance is an umbrella term for life insurance policies that do not expire.
The two primary types of permanent life insurance are whole life and universal life – has cash value and tax benefits.
Term life insurance promises payment of a specified death benefit for a specific period of years – no cash value no tax benefit.
Life insurance policies can be more complex compared to other types of insurance, and they aren’t necessarily right for everyone. Talking to an experienced life insurance agent “Like me” can help you decide the best fit for you
When you take care of your life, it’s easy to protect your loved ones – Let me help you find a Life insurance plan that fits your lifestyle.