Help college happen with life insurance
A source of funds that’s often overlooked
With college costs continuing to rise, it’s never too early to consider opportunities for possible funding. For parents or grandparents who want to help a child afford college, there’s an option that can be offered right now.
Life insurance can help supplement tuition expenses
The main reason for buying life insurance is to provide loved ones with a death benefit that’s generally income-tax-free. This death benefit can be used to help pay for college expenses or other needs.
But that’s not all. Because fixed index universal life (FIUL) insurance also provides accumulation potential, it can be a source of funds that can be accessed through policy loans or withdrawals.
Advantages of FIUL as part of a college funding strategy
FIUL offers a powerful combination of three tax advantages:
A generally income-tax-free death benefit
Tax-deferred accumulation potential
Income-tax-free loans and withdrawals