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Additional Points
Indexed Universal Life - Additional Points
While NG Family Savings & Insurance is able to offer a wide variety of savings plan options, we specialize in indexed-based programs.
Indexed Universal Life or IULs offer IRS approved tax-deferred savings and are funded with after-tax dollars. This means taxes are paid on the "seed" or when your money goes into savings rather than the "harvest," or after your savings have grown and matured.
Once an individual has stopped working and needs to make the most efficient use of their resources, many have found that funding their savings plans with after-tax dollars has left them with a lot more money. This is especially true when one considers the broad nature of historical tax rate changes in the U.S. over the past number of years.
Savings / account values are secured by the issuing company. IULs are offered by some of the oldest, largest and most financially stable institutions in the world. All insurance companies working with NGFS are AM Best “Excellent” rated, have been established for over 60 years, have reported assets of $55 billion or more and have 100% or more of all liabilities covered by assets.
As a dual benefit option, NGFS IUL- based programs also provide 1st-day permanent, universal life insurance coverage. Permanent life insurance is different from many other types of life insurance in that it is designed to be affordable throughout the policy holder’s lifetime. Policy holder’s beneficiaries receive paid benefits—"tax-free."
For those who remember or who where affected by the market crash of 2008, it should be noted that it was The Wall Street Journal that reported that IULs were: “This year’s hottest life insurance product … well-suited to an era of sudden ‘flash crashes’ and overall uncertainty: it appeals to people eager to capture stock market gains while avoiding undue risk” (June 5, 2010).