Whether you’re a new parent considering college savings for the first time, or you’re looking for additional investment opportunities as your child nears graduation; purchasing a life insurance policy may be the perfect solution. Not only does a life insurance policy provide for your child if you are no longer able, but the cash value can help cover tuition costs—even when you’re alive and healthy. So how does it work?
Life Insurance Cash Value & Tuition Payments
When you purchase a permanent life insurance policy with a cash value option, you are not only investing in coverage but in a policy portfolio. Overtime a portion of your premiums are invested in a portfolio on your behalf. During your lifetime, as your cash value grows, you have the opportunity to draw upon those funds, tax-free. That’s right; the interest earned through your permanent life insurance policy is non-taxable income and therefore tends to grow at an exceptionally rapid rate. In short, these are tax-deferred earnings that can be used to pay for your child’s college tuition.
Let Us Help You Secure Online Life Insurance Coverage
We often speak to parents who are simply looking to protect their families in the event of tragedy and are surprised to learn about the added financial benefits of cash value policies. If you’re looking for a safe investment tool to help you begin saving for your child’s college education, now is a great time to explore your online life insurance options. With life insurance rates at historic lows, you can lock in affordable premiums today.
At IntelliQuote we have a dedicated life insurance agent waiting to explain your options and help you secure online life insurance quickly and conveniently. With no obligation to buy, why not request a quote and learn how affordable coverage can be?
Want to learn more about your online life insurance options? We encourage you follow our Life Insurance Blog here we will be exploring the many financial benefits of life insurance protection. While you’re here, read these recent, popular posts:
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