Term |
whole life |
universal life |
variable
| |
---|---|---|---|---|
who is it good for? |
|
Values guaranteed premiums, cash value growth, and the potential to earn dividends1 – all in a policy that provides lifetime protection |
Interested in long-term coverage with flexible premiums and the potential to build account value |
Wants investment options, flexible premiums, and long-term coverage in a single product |
guaranteed premiums |
|
|
Some policies have guarantees |
Limited guarantees may be available |
Flexible Premiums |
No |
No |
|
|
Investment Options |
No |
No |
No |
|
Cash Value Growth |
No cash value |
Guaranteed growth |
Based on the current interest rate (which cannot be lower than the guaranteed minimum rate) |
Potential to increase or decrease based on performance of the underlying investment options |
Potential to Earn Dividends |
No |
|
No |
No |
What Would I Use This For? |
|
|
|
|
When you work with a financial professional, you can expect:
During your initial phone call, your financial professional will ask you questions to understand your financial goals and objectives.
After looking at your entire financial picture, your financial professional will provide you with suggestions to fill in the gaps so you can choose the products best suited for your situation.
If you're satisfied with their recommendations, they work with you to secure the products and services to help ensure your financial future. This may require a medical exam.
Your financial professional can work with you over time through periodic reviews to help you monitor the strategies in place, and their capacity to continuously meet your goals.