This particular product is a combination of a single premium immediate annuity and whole life insurance. One premium payment will be paid into the immediate annuity that will fund the whole life policy over the course of 7 or 10 years depending on your age.
The most important advantage of life insurance is the tax-free death benefit that is passed along to beneficiaries. There is no more efficient way to pass along assets from one generation to another. However, most people don’t think about the living benefits of life insurance. In the case of the Qualified Money Solution, the whole life insurance product will accelerate a portion of the death benefit for extended, confined care and terminal illness. The remaining death benefit will be paid out to the beneficiaries.
Please Note: The information contained in this Web site is provided solely as a source of general information and resource. It is a not a statement of contract and coverage may not apply in all areas or circumstances. For a complete description of coverages, always read the insurance policy, including all endorsements.