While pricing is important, often a policy’s true value lies in the underlying features provided by the plan. Here are key features to look for when comparing plans with your advisor.
= Available in some policies under certain circumstances
= Generally not available
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Flexible Premium Schedule
Stop and Go Premiums
Selection of Investment Options, including a smoothed investment account
Guaranteed Cash Surrender Values (GCSV)
Shift from Single to Joint Last to Die
Access CSV tax free in the event of disability
Investment option to provide a guaranteed fixed dollar monthly return for life
The least expensive initial outlay, however premiums increase over time and coverage is temporary.
Universal life (LCOI)
Permanent coverage that can cover long term risk with accountability, and some flexibility if excess premium is paid.
Hybrid provides the Guaranteed CSVs of whole life, the accountability of universal life, and enhanced flexibility. Guaranteed CSV, Bonuses and PUA costs are contractual, and interest is earned according to the policy owner’s investment selections from among fixed rate, equity and smoothed account options.