Permanent Life Insurance

There are two types of Permanent Life Insurance:

• Whole Life Insurance
• Universal Life Insurance

Whole Life Insurance

Whole life insurance provides affordable permanent protection for your family and has a savings component that builds cash value. Whole Life Insurance: · Provides a guaranteed death benefit to protect your family. · Offers a guaranteed premium structure which means your premiums will never increase, but may be reduced or eliminated. · Builds cash value that can only increase over time. · Offers dividends. When dividends are declared, they may be credited to your policy, further increasing the cash value and death benefit. · Lets you access the cash value for any purpose you may choose including a down payment on a home, a tuition payment for your child or to supplement your retirement income.

A universal life (UL) insurance policy is more flexible than other permanent policies, so you can customize it to fit your lifestyle.

Universal Life Insurance:

• May provide a guaranteed death benefit, ensuring the financial security of your family
• Gives you the flexibility of choosing how much, and when, to make premium payments. (Depends upon the cash value in your policy.)
• Accumulates tax deferred and is accessible on a tax-deferred basis and is generally income tax free (under current tax law) to your beneficiary upon your death.
• Lets you access the cash value for any purpose you may choose including  a down payment on a home, a tuition payment for your child or to supplement your retirement income.

Please contact Joe Bedwell at Bedwell Financial Services, Inc. for more information on UL policies.