With so much uncertainty and uneasiness right now, having a smart financial strategy can help turn uncertainty to certainty. Permanent life insurance should be a part of that plan. More than simply ensuring your family’s financial security for the future, it helps you get the most out of today.
Live more.
Stay protected from life’s uncertainties so you can enjoy life today and feel confident you’re ready for tomorrow.
Permanent life insurance offers:
Guaranteed financial security for your family through a death benefit
Flexibility to access your money through loans and withdrawals1
Keep more.
Provides the potential for tax-deferred growth, and allows you access to the policy’s cash surrender value generally income tax-free.
Permanent life insurance offers:
- No income taxes on the death benefit to your loved ones/beneficiaries
- A lower overall tax burden, allowing you to do more with your money1
Build more.
Let your money work harder for you by minimizing taxes now and in the future.
Permanent life insurance offers:
- Builds cash value over time — so as your life grows, your policy does too (as long as you pay your premiums)
- A wide range of investment choices (within variable life insurance policies)
Choices to match your goals
Of course, you want to know your family will be protected. But what else is important to you?
- Living in the home you love, knowing the mortgage won’t become a burden to your family/beneficiaries?
- Leaving a legacy to your most cherished cause?
- Funding an education at the best college available?
Whatever your goals, we meet you where you are with life insurance strategies and products designed to give you some peace of mind.
Read on for tips about different kinds of life insurance, or connect with a financial professional who can help you make smart choices for your needs.
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Permanent life insurance
Permanent life insurance is just that — permanent. It protects you and your family now and throughout your life and is more affordable than you may think.2
Video transcript:
It's time we start giving life insurance the credit it deserves. Because when many of us think about buying life insurance, we generally consider one thing: Protecting the ones we love. But what if we told you that protection is just the foundation of a life insurance policy, and that there are many other benefits. Sort of the sprinkles on top of your sundae. Well, that's the case when you choose permanent life insurance. Now, term life insurance is probably what you think of when you hear the words life insurance. You choose a set period of time and you pay a premium for the financial security that would be provided by a death benefit to your family. It's relatively easy and affordable, but offers little versatility. Permanent life insurance, on the other hand, can be a smart addition to many financial plans because it offers ways to protect your family and to accumulate tax-deferred cash value over time, potentially helping you to minimize your current taxes. In short, it can help you live, keep and build more.
For starters, permanent life insurance can adapt throughout your life, providing you access to your policy's cash value when you need it most. And all along, you have the opportunity to build cash values to help with your living needs.
Our Long Term Care Services Rider, when added to a life insurance policy, provides a relatively affordable and effective way to pay for potential long-term care costs.
Basically, permanent life insurance can offer features that adapt to your life and needs so you can rest easy knowing you and your family are covered. And that can help you live more for today. You can also keep more.
Permanent life insurance provides the potential for tax-deferred growth and lets you access the policy's cash surrender value tax-free for important financial goals or to help maintain your quality of life in retirement. The death benefit of permanent life insurance is generally income tax-free to your beneficiaries. Permanent life insurance also allows you to build cash value with tax-deferred growth and generally tax-advantaged distributions.
In short, permanent life insurance allows you to live more for today, keep more of your money and build your cash value over time. But, most importantly, puts you in control of creating a financial plan that includes permanent life insurance that fits your needs. And it's got a lot of extra sprinkles, or rather benefits, that can give you and your family the protection and flexibility you need throughout your life.
Learn about what permanent life insurance can do for you and your family.
Talk to your financial professional or visit equitable.com today.
Permanent life insurance offers:
- The potential to build cash value during your lifetime.
- The ability to access your money through loans and withdrawals for things such as paying for college, retirement or long-term care.
- A generally income tax-free payout to your loved ones upon your passing (known as a death benefit).
Indexed Universal Life Insurance
Indexed Universal Life Insurance
Flexibility to pay premiums in different amounts or at different times, typically while earning a fixed interest rate each month, with Indexed Universal Life policies.
Variable Universal Life Insurance
Variable Universal Life Insurance
Greater opportunities to increase cash value by investing directly in the market, with the security of a guaranteed minimum death benefit, with Variable Universal Life policies.3
3 There is investment risk with variable universal life, including the possible loss of principal invested.
Variable Universal Life products
Survivorship Life Insurance
Survivorship Life Insurance
A cost-effective way to insure two people, usually a married couple, to supplement your retirement income or maximize the legacy you both leave, with Survivorship Life insurance.
Long-Term Care Coverage
Long-Term Care Service Rider
The ability to set aside money for the people you want to protect, with the assurance it will return as a death benefit to those who depend on you if you don’t need it, with long-term care coverage provided, required premiums are paid.4
Term life insurance
Term life insurance is generally the most affordable type of coverage. It offers protection for a specific period of time, but without the potential to grow the cash value in the policy.
Term life insurance offers:
- Security that comes with knowing a death benefit will be paid to your loved ones if you pass away — for example, while your children are still young or your business is still growing.
- Coverage for a defined term — unlike permanent life insurance, which covers you for life (provided that the premiums are paid) and provides potential for cash value accumulation.
Know the difference between life insurance types
Permanent life insurance offers... |
Term life insurance offers... |
|
Protection now and throughout your life |
Protection for a specific period of time |
|
A generally income tax-free death benefit payout to your loved ones upon your passing |
A generally income tax-free death benefit payout to your loved ones upon your passing |
|
The ability to accumulate cash value in the policy |
Coverage that is generally more affordable than permanent life insurance policies |
1 Policy loans and withdrawals will reduce the cash value and death benefit of the contracts. Clients may need to fund higher premiums in later years to keep the policy from lapsing. Under current federal tax rules, you generally may take income tax-free partial withdrawals under a life insurance policy that is not a modified endowment contract (MEC), up to your basis in the contract. Additional amounts are includible in income. The IRS places a limit on how much money can go into life insurance premiums for the policy and how quickly such premiums can be paid in order for the policy to retain all of its tax benefits. If certain limits are exceeded, a MEC results. MEC policyholders may be subject to taxes on distributions on an income-first basis, that is, to the extent there is gain in their policies, as well as penalties on any taxable amount if they are not age 59 1/2 or older. Loans taken will be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse and is not a MEC. Please note that outstanding loans accrue interest. Income tax-free treatment also assumes the loan will eventually be satisfied from income tax-free death benefit proceeds. Loans and withdrawals reduce the policy's cash value and death benefit, may cause certain policy benefits or riders to become unavailable and may increase the chance the policy may lapse. If the policy lapses, is surrendered or becomes a MEC, the loan balance at such time would generally be viewed as distributed and taxable under the general rules for distribution of policy cash values. In addition, withdrawals, policy loans and any accrued loan interest may cause your policy to lapse even if you are in a period of coverage under the No-Lapse Guarantee Rider. Speak to your financial professional before taking any withdrawals or policy loans.
2 As long as you pay the required premiums.
3 There is investment risk with variable universal life, including the possible loss of principal invested.
4 This is provided through a Long-term Care Servicessm rider, which is available for a additional charge. Additionally, there are restrictions and limitations. A client may qualify for the life insurance, but not the rider. It is paid as an acceleration of the death benefit.
Variable universal life insurance is sold by prospectus only, which contains more complete information about the product, including investment objectives, risks, charges, expenses, limitations and restrictions. Please read the product prospectus and consider the information carefully before purchasing a policy or sending money. You should contact your financial professional for a copy of the current prospectus.
A variable universal life insurance contract is a contract with the primary purpose of providing a death benefit. It is also a long-term financial investment that can also allow potential accumulation of assets through customized, professionally managed investment portfolios. These portfolios are closely managed in order to satisfy stated investment objectives.
There are fees and charges associated with variable life insurance contracts, including mortality and risk charges, a front-end load, administrative fees, investment management fees, surrender charges and charges for optional riders.
Equitable Financial and its affiliates do not provide legal or tax advice. Clients must rely on their own advisors on these matters.