Page 61 - Mumme Booklet

DRAFT

TERM, PERMANENT AND UNIVERSAL LIFE INSURANCE

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TERM WHOLE LIFE UNIVERSAL LIFE
(PERMANENT) (PERMANENT)

• Provides temporary • A unique asset that can • Potential for life-long
protection for a address evolving needs coverage
specified duration through all stages of life
• Greatest amount of
• Much like renting, no • Provides lifetime protection premium and death
equity is built benefit flexibility
• Much like buying a home,
• May expire prior to death it is an asset that builds • Choices of increasing or
or you will need proof of equity over time level death benefit options
insurability to change or
purchase a new contract • Accumulated value** is • Coverage for life may
guaranteed to grow tax require additional
• Some policies may be deferred over time provided premium payments
converted to a permanent premiums are paid
policy • Accumulated value is
• Participates in dividends* guaranteed provided
• Many policies have premiums are paid and
premiums that increase • Provides flexibility with is based on minimum
as you get older and additional benefits that may interest crediting rate and
have maximum age limits help during a disability or if maximum policy charges
you need long-term care
• Most policies have level
premiums
• Many options for how long
to pay premiums
• May provide tax
advantaged income**

* Dividends are not guaranteed.

** Each method of utilizing permanent life insurance accumulated value has advantages and disadvantages and is subject to
different tax consequences. Using permanent life insurance accumulated value will reduce the death benefit and may affect
other aspects of the policy.

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This plan is not complete without the Assumptions and Disclosures pages appearing at the end.
3170326-1-4 January 29, 2021 Page 61 of 108