Disclosure
This financial strategy involves the use of a life insurance product with tax-advantaged features. It is important to understand the following:
Product Nature
This is a life insurance policy that combines death benefit protection with the potential for cash value accumulation.
Tax Implications
The cash value growth is tax-deferred, and access to funds through policy loans and withdrawals is generally income tax-free, provided the policy is properly structured and not classified as a Modified Endowment Contract (MEC). Tax laws are subject to change; consult a tax professional for personalized advice.
Policy Loans and Withdrawals
Loans and withdrawals will reduce the policy's cash value and death benefit and may have tax consequences if the policy lapses or is surrendered.
Market Risk
While the cash value growth is linked to the performance of a market index, you are not directly investing in the stock market or any index. Past performance does not guarantee future results.
Fees and Charges
Indexed Universal Life (IUL) insurance policies may include fees and charges, such as cost of insurance, administrative fees, and surrender charges, which can affect policy values.
Guarantees
Guarantees are based on the claims-paying ability of the issuing insurance company.
Not a Deposit
This product is not a bank deposit, not FDIC-insured, and not insured by any federal government agency.Suitability: This strategy may not be suitable for everyone. It is important to assess your financial goals, risk tolerance, and time horizon.
Consult Professionals
Always consult with a qualified financial advisor or insurance professional to determine if this strategy aligns with your individual needs and circumstances.
This content is for informational purposes only and does not constitute legal, tax, or investment advice.
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Copyright © 2024 FutureYou Finance - All Rights Reserved.
Not affiliated with the Social Security Administration, IRS or any other governmental agency.
FutureYou Finance provides educational marketing services only and does not offer Financial, Legal or Tax Advice. Retirement You Workshops are hosted by independent financial professionals that are required to be licensed in their state(s) of jurisdiction for all products and service they provide. Insurance and/or financial services may be offered at a later date. There is no cost or obligation required to attend the workshop. All offers and invitations are subject to specific terms and availability. Contact the workshop host for additional details.
This site is not part of, or endorsed by, Meta™, Google™, Snapchat™, X™ or any social media platform in any way.
All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.
FACEBOOK™ is a trademark of Meta™, Inc. YOUTUBE™ and GOOGLE™ are trademarks of GOOGLE™, LLC. SNAPCHAT™ is a trademark of SNAP™, Inc. X™ is a trademark of X Corp.