Whole Life Insurance That Protects You for a Lifetime

Key Details
Cover both spouses; add a term rider for extra protection now and convert later.
Use paid‑up additions (PUA) to accelerate cash value for college flexibility or future income.
What to Know About Whole Life
Coverage length: Lifetime, as long as required premiums are paid.
Cash value: Guaranteed accumulation; grows tax‑deferred and can be accessed via loans/withdrawals.
Premiums: Typically level for life; options include limited‑pay (10‑pay, 20‑pay) and life‑pay.
Dividends: For participating policies, dividends are not guaranteed; common uses include paid‑up additions, premium reduction, or accumulation.
Policy loans: Generally tax‑advantaged if managed well; unpaid loans reduce death benefit; monitor to avoid lapse.
Riders: Paid‑up additions (PUA), term rider, accelerated death benefit (living benefits), waiver of premium, chronic/long‑term care (where available).
Nonforfeiture: Options include reduced paid‑up and extended term if premiums stop.
Underwriting: May involve an exam; simplified or guaranteed issue available on select plans/amounts.
Taxes & MEC: Death benefit is usually income‑tax‑free; cash value grows tax‑deferred. Exceeding MEC limits changes tax treatment—get guidance.
Coordination: Blend with term for cost control now; review annually to track goals and dividend performance.
Fast Next Steps
List permanent needs (final expenses, special‑needs dependents, legacy/charitable goals, estate liquidity).
Choose participating vs. non‑participating; select base + PUA structure and pay period (10/20‑pay or life‑pay).
Request a detailed illustration; verify MEC limit and loan provisions match your strategy.
Set ownership/beneficiaries (consider an ILIT for estate planning) and schedule annual reviews.

Key Details
Consider an IDR Life Insurance Trust (ILIT) for larger estates or when minors are beneficiaries.
Cash value can supplement long-term care or provide emergency liquidity later in life.

What to Know About IDR Whole Life Insurance
Coverage length: Lifetime, as long as required premiums are paid.
Cash value: Guaranteed growth, tax-deferred, accessible via policy loans or withdrawals.
Premiums: Typically level for life; options include limited-pay (10‑pay, 20‑pay) or life-pay plans.
Dividends: For participating policies, dividends are not guaranteed; common uses include paid-up additions, premium reduction, or accumulation.

Policy loans: Generally tax-advantaged if managed well; unpaid loans reduce the death benefit—monitor to avoid lapse.

Riders: Options include paid-up additions (PUA), term riders, accelerated death benefits (living benefits), waiver of premium, and chronic/long-term care (where available).
Nonforfeiture: Reduced paid-up or extended term options if premiums stop.
Underwriting: May involve an exam; simplified or guaranteed issue available on select plans/amounts.
Taxes & MEC: Death benefit is usually income-tax-free; cash value grows tax-deferred. Exceeding MEC limits changes tax treatment—seek guidance.
Coordination: Can be blended with term insurance for cost management; review annually to track goals and dividend performance.

Fast Next Steps
Identify permanent needs: final expenses, special-needs dependents, legacy/charitable goals, estate liquidity.
Choose participating vs. non-participating policy; select base + PUA structure and pay period (10/20‑pay or life-pay).
Request a detailed illustration; verify MEC limits and loan provisions align with your strategy.
Set ownership/beneficiaries (consider an ILIT for estate planning) and schedule annual policy reviews.

Key Details
Efficiently fund your base premium plus Paid-Up Additions (PUA); monitor MEC limits to preserve tax benefits.
Coordinate with 401(k), IRA, or HSA accounts; IDR Whole Life adds guaranteed, non‑market‑correlated value.

What to Know About IDR Whole Life Insurance
Coverage length: Lifetime, as long as required premiums are paid.
Cash value: Guaranteed accumulation; grows tax-deferred and can be accessed via policy loans or withdrawals.
Premiums: Typically level for life; options include limited-pay (10‑pay, 20‑pay) or life-pay.
Dividends: For participating policies, dividends are not guaranteed; common uses include paid-up additions, premium reduction, or accumulation.
Policy loans: Generally tax-advantaged if managed well; unpaid loans reduce death benefit—monitor to avoid policy lapse.
Riders: Options include paid-up additions (PUA), term rider, accelerated death benefit (living benefits), waiver of premium, and chronic/long-term care (where available).
Nonforfeiture: Reduced paid-up or extended term options if premiums stop.
Underwriting: May involve a medical exam; simplified or guaranteed issue available on select plans/amounts.
Taxes & MEC: Death benefit is typically income-tax-free; cash value grows tax-deferred. Exceeding MEC limits changes tax treatment—seek guidance.
Coordination: Can be blended with term insurance for cost efficiency; review annually to track goals and dividend performance.

Fast Next Steps
Identify permanent needs: final expenses, special-needs dependents, legacy/charitable goals, estate liquidity.
Choose participating vs. non-participating; select base + PUA structure and pay period (10/20‑pay or life-pay).
Request a detailed illustration; verify MEC limits and loan provisions align with your strategy.
Set ownership and beneficiaries (consider an ILIT for estate planning) and schedule annual policy reviews.

Key Details
IDR Whole Life provides lifetime coverage, with cash value that can support collateral needs or financial opportunities. Ensure proper ownership/beneficiary design (entity vs. cross‑purchase) and review policy valuation regularly.

What to Know About Whole Life
Coverage Length: Lifetime, as long as required premiums are paid.
Cash Value: Guaranteed accumulation; grows tax-deferred and accessible via policy loans or withdrawals.
Premiums: Typically level for life; options include limited-pay (10‑pay, 20‑pay) and life-pay.
Dividends: For participating policies, dividends are not guaranteed; common uses include paid-up additions (PUA), premium reduction, or accumulation.
Policy Loans: Tax-advantaged if managed carefully; unpaid loans reduce death benefit, so monitor to avoid policy lapse.
Riders: Paid-up additions (PUA), term rider, accelerated death benefit (living benefits), waiver of premium, and chronic/long-term care (where available).
Nonforfeiture Options: Reduced paid-up and extended term if premiums stop.
Underwriting: May require an exam; simplified or guaranteed issue available for select plans/amounts.
Taxes & MEC: Death benefit is usually income-tax-free; cash value grows tax-deferred. Exceeding MEC limits changes tax treatment—seek guidance.
Coordination: Can be blended with term insurance for cost control; review annually to track goals and dividend performance.

Fast Next Steps
List permanent financial needs (final expenses, special-needs dependents, legacy/charitable goals, estate liquidity).
Choose participating vs. non-participating policy; select base + PUA structure and pay period (10/20‑pay or life-pay).
Request a detailed illustration; verify MEC limits and loan provisions align with your strategy.
Set ownership/beneficiaries (consider an ILIT for estate planning) and schedule annual reviews.