COMBINING INSURANCE AND INVESTMENT NEEDS IN ONE

Universal and variable life insurance policies, like whole life, combine life insurance protection with the opportunity to build cash value on a tax-favored basis.  Better than whole life, these modern policies provide you with desirable flexibility and control.  You have flexibility and control over the premium structure, death benefit size, and/or investment of the cash value.  If you like the idea of having one product take care of both your insurance and investment needs and you can afford to make a long-term commitment, these policies may be attractive to you.  Otherwise, you may wish to use term insurance and place your investment money elsewhere.

For more information on variable investments, such as variable annuities, see our other tutorials in this series.