In this way, policy owners have tax - free
access to their cash accumulation.
You'll also have the opportunity to have
access to cash accumulation.
Not exact matches
However,
cash value
accumulation isn't the usual emphasis of guaranteed universal life insurance, policies do allow for the
accumulation of some
cash value and allow you
to access it.
If you want
to access the
cash accumulation — and, more importantly, don't want life insurance anymore — you can surrender your insurance policy and receive money equal
to the
cash surrender value.
This specific type of whole life insurance offers substantial benefits
to key people due
to the steady
accumulation of
cash value within the policy and the flexible
access to cash, as well as favorable tax treatment.
In fact, according
to a recent survey by Allianz Life Insurance Company of North America, more than half (51 %) of respondents said they were either unsure or did not believe life insurance could provide living benefits such as
access to potential
cash value
accumulation to help fund college education, supplement retirement or other financial needs.
«Life insurance offers potential for tax - efficient
cash accumulation, which can be
accessed for a variety of reasons including supplemental retirement income or healthcare costs, as well as a tax - efficient vehicle
to provide for heirs,» he told AdvisorOne.
If you want
to access the
cash accumulation — and, more importantly, don't want life insurance anymore — you can surrender your insurance policy and receive money equal
to the
cash surrender value.
A universal life contract provides
access to cash value
accumulation like that of a whole life policy; however,
cash value within a universal life policy includes a guaranteed minimum interest rate plus an additional interest payment if and when the life insurance carrier experiences higher returns on its own investments.
However,
cash value
accumulation isn't the usual emphasis of guaranteed universal life insurance, policies do allow for the
accumulation of some
cash value and allow you
to access it.
Your policy will provide tax - deferred growth on
cash value
accumulation and non-taxed
access to cash value up
to the policy's basis.
Many people misinterpret
cash accumulation to be an extra savings source that they can
access freely or leave
to their family.
These benefits can include eligibility
to earn dividends,
cash value
access from partial surrenders and loans, and guaranteed
cash value
accumulation — as long as you pay your life insurance premiums.
This specific type of whole life insurance offers substantial benefits
to key people due
to the steady
accumulation of
cash value within the policy and the flexible
access to cash, as well as favorable tax treatment.