Just like Whole Life, insurance protection is provided for your lifetime even though premium payments are made for only 20 years. Not all riders may be added to this plan. Eligible riders will terminate at the end of 20 years. This policy also has a cash value accumulation which is available to you. Should you need it, you have the ability to access your cash value by taking out a low interest certificate loan.
Like Whole Life, the increases in your cash value accumulate tax-deferred. You’ll never pay taxes on this tax-deferred growth unless you take out more cash value than you have paid in premiums. In addition to these advantages, the proceeds of the certificate generally pass income tax free to the beneficiary you select.
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