Indexed Universal Life vs. Term Insurance and a Side Fund
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1 Indexed Universal Life vs. Insurance and a For: Cliff Havers Presented By: [Licensed user's name appears here]
2 Indexed Universal Life vs. Insurance and a Preface A decision to acquire additional life insurance can represent one of several significant phases in your overall financial planning. An important part of this decision will involve your selection of the appropriate life insurance policy. There are several important factors to consider which include: 1. The time frame for the insurance need; 2. Your available cash flow; 3. Your alternative uses for the cash flow; 4. The income tax considerations. An integrated analysis of these points creates useful information that helps guide your purchasing evaluation. The precision of the conclusions, however, is contingent upon the accuracy of the data utilized. You should be positive that all premises and conditions accurately reflect your goals and expectations. The accompanying analysis contrasts a cash value policy to a term insurance alternative. Any difference in premiums between the two choices has been evaluated regarding time/use of money. The study produces information which should form a basis from which you and your advisors can draw informed conclusions. Based upon the results of the analysis, we recommend funding your life insurance requirement with the cash value policy illustrated rather than a term life insurance policy. Cumulative Payments Cumulative After Tax Cash Flow $2,000k 1,500k Cumulative Payments $2,000k 1,500k and $1,709,812 1,000k 1,000k 500k 0 $83,515 Yrs k 0 $224,046 Yrs Insurance $2,000k $2,000k Cash Value 1,500k 1,500k 1,000k 1,000k 500k 0 Yrs k $314,903 0 $275,796 Yrs This graphic assumes the non-guaranteed values shown continue in all years. This is not likely, and actual results may be more or less favorable. Page 1 of 7
3 Indexed Universal Life vs. Insurance and a Comparison Yield Income Tax Rate 30.00% Interest Rate Initial 500,000 Payment Allocation 500,000 Scheduled Insurance Along with a Year Male Age (1) Cost of the Proposed Premium (2) Alternative Policy Premium (3) Net to (1) - (2) (4) After Tax Cash Flow from the Account (5) Values (6) Scheduled (7) Combined (5) + (6) (8) After Tax Policy Loan Proceeds (9) Year End Cash Value* (10) , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,937 83, , Management fees reflected in column (5): 1.50% *This illustration assumes the nonguaranteed values shown continue in all years. This is not likely, and actual results may be more or less favorable. This illustration is not valid unless accompanied by a basic illustration from the issuing life insurance company. 30 Year Summary /Side Fund After Tax Payments 83,515 83,515 After Tax Cash Flow 0 0 Living Values 207, , , ,937 Page 2 of 7
4 Indexed Universal Life vs. Insurance and a Comparison Yield Income Tax Rate 30.00% Interest Rate Initial 500,000 Payment Allocation 500,000 Scheduled Insurance Along with a Year Male Age (1) Cost of the Proposed Premium (2) Alternative Policy Premium (3) Net to (1) - (2) (4) After Tax Cash Flow from the Account (5) Values (6) Scheduled (7) Combined (5) + (6) (8) After Tax Policy Loan Proceeds (9) Year End Cash Value* (10) , , ,563 36, , , , , ,653 37, , , , , ,327 38, , , ,108 70, ,467 40, , , ,475 29, ,947 41, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,903 83, , ,046 1,709,812 Management fees reflected in column (5): 1.50% *This illustration assumes the nonguaranteed values shown continue in all years. This is not likely, and actual results may be more or less favorable. This illustration is not valid unless accompanied by a basic illustration from the issuing life insurance company. 60 Year Summary /Side Fund After Tax Payments 83,515 83,515 After Tax Cash Flow 224,046 1,709,812 Living Values 0 275, ,903 Page 3 of 7
5 Indexed Universal Life vs. Insurance and a Matching Values Yield Income Tax Rate 30.00% Interest Rate Initial 500,000 Gross Interest Rate Required on a to Match Indexed Universal Life Policy Values over 60 Years After Applying the Payment Illustrated Gross Interest Rate Required To Match Cash Value of: $275, % To Match Cash Value $275, % Required Income Tax Considerations 1. : Interest is taxed as earned. 2. Indexed Universal Life: a. including available cash value component is income tax free. b. Loans are income tax free as long as the policy is kept in force. c. Withdrawals and other non-loan policy cash flow up to cost basis (not in violation of IRC Section 7702) are income tax free as a return of premium. d. Cash values shown assume most favorable combination of b and/or c. This illustration assumes the nonguaranteed values shown continue in all years. This is not likely, and actual results may be more or less favorable. This illustration is not valid unless accompanied by a basic illustration from the issuing life insurance company. Page 4 of 7
6 Indexed Universal Life vs. Insurance and a Cash Flow Comparison of Years $2,000,000 $1,709,812 $1,500,000 $1,000,000 $500,000 $224, Years (31-60) At Year 60 Cumulative After Tax Cash Flow - $224,046 Cumulative After Tax Policy Cash Flow - $1,709,812 Page 5 of 7
7 Indexed Universal Life vs. Insurance and a 60 Year Analysis $500,000 $375,000 $250,000 $275,796 $125,000 $83, Years At Year 60 Payments (Cumulative) $83,515 Values Cash Values $275,796 Page 6 of 7
8 Indexed Universal Life vs. Insurance and a 60 Year Analysis $1,000,000 $750,000 $500,000 $314,903 $250,000 $83, Years At Year 60 Payments (Cumulative) $83,515 Plus Policy $314,903 Page 7 of 7
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Insurance and Introduction A decision to acquire additional life insurance can represent one of several significant phases in your overall financial planning. An important part of this decision will involve
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