What is UFLIC - 30 insurance?

Universal Life with a Flexible Premium - Indexed Option (UFLIC - IO) is a permanent life insurance policy that offers a tax-advantaged way to save for the future. It provides death benefit protection and the potential for cash value growth.

Key Features:

1. Flexible Premiums: UFLIC - IO allows policyholders to pay premiums flexibly, according to their financial circumstances. Unlike traditional life insurance policies, there is no fixed premium amount.

2. Indexed Cash Value Growth Potential: The cash value component of the policy is linked to an external market index, such as the S&P 500 or a bond index. This means that the cash value can grow based on the performance of the underlying index, offering the potential for long-term growth.

3. Death Benefit Protection: UFLIC - IO provides a death benefit that pays out to the beneficiaries upon the insured's death, regardless of the cash value accumulation.

4. Tax Advantages: The cash value growth in UFLIC - IO policies is generally tax-deferred, meaning it grows without immediate taxation. Withdrawals from the cash value may also be tax-free if certain conditions are met.

5. Loan Provision: Policyholders can borrow against the accumulated cash value of the policy to meet various financial needs. These loans are typically non-recourse, meaning the death benefit is not affected by the outstanding loan amount.

6. Estate Planning Tool: UFLIC - IO can be used as an estate planning tool to transfer wealth to heirs in a tax-efficient manner. The death benefit can provide liquidity to cover estate taxes, and the cash value can be distributed to beneficiaries without triggering income taxes.

7. Customization: UFLIC - IO policies can be customized to suit individual needs and financial goals. This may include different premium payment options, death benefit structures, and indexed options for cash value growth.

It is important to consult a qualified financial advisor to determine if a UFLIC - IO policy is suitable for your specific financial situation and objectives.