Withdrawal or loan privileges. Guaranteed level premium payments. Guaranteed level death benefits for as long as you live. Guaranteed cash values. Premiums may be several times higher than the initial premiums for the same amount of term insurance.
Total premiums paid are normally only a fraction of the cash received as a death benefit.
Life insurance death benefits provide the cash at precisely the time it is needed. Withdrawals and loans may reduce the cash value and death benefit of the policy. For specific legal or tax advice concerning your situation, please consult your attorney or tax advisor. Products and agency services may not be available in all states. Stephen M. Polizzi is licensed for life, health and variable annuity products in the state of New York and state of Florida.