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While all permanent policies are designed to provide a safety net with death benefit protection while accumulating cash value, there are different types that are suited to meet different needs. Your financial professional can help you determine which type of permanent life insurance can help you build a strong “center” for your financial plan and create a world of possibilities for you and your family.
Your financial professional can also provide details on the risk tolerance and growth potential of the permanent life insurance product that is right for you.
|Whole Life||Universal Life (UL)||Indexed Universal Life||Variable Universal Life (VUL)|
"Keep it Safe"
Guaranteed death benefit and cash value accumulation
Maximum guarantees and predictable payments
Long-term, low risk tolerance
Low cost with flexible payments, yet adjustable
Protection guarantees with cash value linked to company's current interest rate*
Low to medium, risk tolerance
"Add a Boost"
Equal desire for protection and cash value accumulation
Upside potential with cash value linked to market index
Strong downside protection
Medium risk tolerance
"Max My Upside"
Strong desire for cash value accumulation
Upside potential with cash value linked to investment account performance**
Limited downside protection
Higher risk tolerance
Term life insurance can be used as a supplement to permanent life insurance, maximizing protection for a specific period of time. When thinking about term insurance, consider a policy that allows the options to convert to a permanent policy. Another way to look at the differences is by your specific needs.
|Term Life||Whole Life||Universal Life||Variable
|Invested in Market||No||No||No||Yes|
|Affordable Temporary Protection||Yes||No||No||No|
Choosing the right life insurance product depends on your personal needs and budget, the types of features are important to you and your risk tolerance. To help you prepare for a discussion with your Financial Professional, read what you should consider when purchasing life insurance.