Indexed Universal Life Insurance
Protect Whats Important to You Now - When your working or running a business life insurance provides a solid foundation to your financial plan. With an IUL to supplement retirement income you gain a death benefit protection to replace income in the event of premature death and a benefit to help create a legacy that can pass on to your beneficiaries afterwards.
Living Benefits For When You Don't Die - Further protect whats important to you by accelerating a portion of your death benefit, generally tax free and subject to eligibility, for unexpected health emergencies. Critical and chronic illness expenses can be offset and income replaced by using Living Benefits built into the policy at no additional premium.
Potential for Growth Without Risk - Cash accumulation and tax deferred growth is based on stock indexes like the S&P 500, Nasdaq, and Dow Jones. There is no downside risk to market volatility like a traditional 401k plan with mutual funds, stocks, and bonds. Often times there are guaranteed minimums of 2 or 3 percent built into the plan for years the markets don't perform.
Flexible premiums Allow for Adjustments - When available resources may be limited premiums may be adjusted and since an IUL is not a qualified plan, they are not subject to tax-qualified plan contribution limits.
Generally Tax Free Distributions For Retirement - Potential cash values can be accessed tax free generally through loans or withdraws up to the cost basis. Cash values may be accessed without tax penalties for early withdrawals unlike most cases with qualified plans as long as the policy is not a modified endowment contract.
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Life insurance policies have terms under which the policy may be continued in force or discontinued. Current cost of insurance rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. The Index Accounts are subject to caps and participation rates. In no case will the interest credited be less than 0 percent. Please refer to the customized illustration provided by your agent for additional detail. The policy's death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insured's death. For costs and complete details, call or write North American Company for Life and Health Insurance Sioux Falls, SD 57193 Telephone 1-877-872-0757.
Neither North American Company for Life and Health nor its agents give legal or tax advice. Please consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.