Both IUL and VUL policies provide permanent coverage, pay a lump sum death benefit to your beneficiary and provide cash value growth and
access to your cash value via withdrawals or loans.
With its permanent policies, New York Life offers
access to cash value via loans and / or withdrawals, as well as many plans that have guaranteed interest rates, and periodic dividends with paid up addition options.
There is
access to the cash value via loans and / or withdrawals — which includes the opportunity to take net - zero cost loans in policy years six and beyond.
It also offers
access to cash value via policy loans and withdrawals — which include net - zero cost loans in policy years six and later.
Both IUL and VUL policies provide permanent coverage, pay a lump sum death benefit to your beneficiary and provide cash value growth and
access to your cash value via withdrawals or loans.
Not exact matches
So you are gaining
access to your
cash value equivalent that has accumulated
via premium payments and interest and using it for whatever you choose.
It is also flexible in that the
cash value within the policy can be
accessed via a withdrawal or policy loan
to supplement their retirement income or fund a grandchild's education.
Cash value can be
accessed tax free through withdrawals up
to your basis or
via life insurance loans.
tax - free
access to accumulated
cash value via loans or withdrawals (note that loans and withdrawals can reduce the death benefit); and
But unlike the 401 (k) and IRA where the distributions are taxed,
cash value accessed via loan from a life insurance policy is not subject
to taxation.
One of the benefits of
cash value life insurance is the ability
to access the funds
via tax free policy loans.
These advantages include tax deferred growth as well as the potential
to access policy
cash values without paying taxes
via withdrawals and policy loans.