- Life insurance protection for loved ones – The Transamerica Financial Choice IUL Death Benefit can help replace income, fund major expenses, or leave a financial legacy for loved ones. Insurance coverage includes a generally tax-free death benefit and optional living benefit riders for qualifying critical, chronic and/or terminal illnesses.
- Tax-free additional income – A properly funded Transamerica Financial Choice IUL policy provides clients with tax-free access to the policy’s available cash values, which minimizes taxable income in any given year. This helps maximize after-tax income, diversify and manage tax risk, or build a diversified, tax-efficient retirement distribution strategy.
- Indexing power and versatility of choice – The policy offers a diverse mix of index options that provide choice and control to policyholders. Clients can choose from domestic and global index options and high or uncapped index rates. Clients can also obtain greater coverage with surrender options to help maximize policy value accumulation in a tax-efficient manner.
- A monetary value strategy – This policy helps clients create a flexible source of liquidity. For example, a parent can save for a loved one’s education without affecting their ability to qualify for financial aid or set aside after-tax dollars for retirement as an alternative to a Roth IRA.
People who contribute the maximum to eligible plans and who are looking for other tax-efficient strategies will find the Financial choice Transamerica IUL particularly attractive. This product will also appeal to small business owners looking to finance or start a new business, or those using life insurance to support business planning strategies such as deferred compensation, dollar splitting and executive bonus.
For more information on the Financial choice Transamerica IULvisit Transamerica.com.