Proverbs 21:5 “Careful planning puts you ahead in the long run; hurry and scurry puts you behind.”.... If you wish to learn something, read on. If you consider your life as a Car or a House then a Term Insurance is your best choice because it pays when something happens and worthless as time goes by but if you foresee your life as a legacy for you or your family, then the GIUL is the best choice. SO, WHAT THE HECK IS A GIUL? IT IS A TOOL FOR CASH ACCUMULATION Global Indexed Universal Life Policy Information The GIUL was introduced in the insurance market in 1995. 97% of American do not know about it. Most people have not heard of such product because insurance agents have such poor experience with the previous products such as the Variable Universal Life and Traditional Universal Life policies. Here’s a quick thumb nail characteristics of the Global Indexed Universal Life policy that I sell. Death Benefit - For pennies on the dollar, individuals are able to buy protection for their family that will ensure their family can continue in the lifestyle they are accustomed to, even if the income earner was to die prematurely. Cash Accumulation - Part of your premium generates interest gains with guarantees up to 12% or more depending on the providers plan. Protection Against Market Loss - The policy contractually guarantees that your cash will never have a negative return due to market losses - ever. The annual growth to a policy’s cash value is the policy holder’s to keep forever. It can never be taken away due to negative market performance. If the market ever crashes, the individual’s money still gets 1% while everyone else in the market losses all their money should the market takes a dive below 1 %. Annual Reset Provision - allows an individual to capture, and more importantly, lock in each year of positive return in the market. Upside Growth Potential - a cap of 12% to 13 % is the potential room for growth of your money. Not like other investment vehicles such as stocks or bonds or money market account, when the market is down it does not participate in the market and when all others lose their money because of a market dive to the negative territories, the policy still pays 1% on the principal amount there is on the account. Tax Free access to cash accumulation - The individual can always make a tax-free withdrawal, up to the total amount of premiums they have paid into the policy, since the withdrawal simply represents a return of the after - tax money that he originally contributed to the policy. Money can he accessed in the form of a withdrawal or policy loan provision with no penalties - not like IRA or 401Ks where money taken out is penalized and taxed. Refer to IRS Rule 7702. No minimum age or income requirement - Unlike tax-qualified plans, such as IRAs or 401Ks, this policy contract has no minimum age to put this strategy in place - even a day old child can have such policy that can supercharge the results. No mandatory distribution - On other plans there is a mandatory distribution when a person turns 70 whether they need money or not. An individual can decide how or when to use their money - not Uncle Sam. Access at any Age - Individuals money in the policy can be accessed at any age leaving 100 percent of the decision up to the individual. Protection from lawsuits - The cash value accumulated inside of a life insurance policy is protected from creditors, whether it is due to bankruptcy, law suit, or another type of judgment. Did you know that if an individual has an IRA or 401K it can be levied? Not this policy contract. Does not create taxation of Social Security Benefits - Social Security benefits can now be subject to income taxation based upon other retirement income received. Income coming out of cash value life insurance is not subject to Social Security income taxation. Avoids Probate - Because life insurance contract names a beneficiary it is paid directly to the beneficiary within the days of death of the insured.
Posted on: Wed, 07 Aug 2013 06:35:51 +0000
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