- Introduction
- Series EE and Series I Savings Bonds and the Education Tax Exclusion
- Tax-Advantaged Education Plans
- Annuities
- Cash Value Life Insurance
- Roth IRAs
In addition to providing a death benefit, cash value (or "permanent") life insurance provides tax-deferred growth. Basically, a portion of your premium goes into a savings component. This savings account grows tax-deferred. The different types of cash value life insurance include whole life, universal life, and variable (universal) life.
Whole life, considered the traditional form of permanent insurance, provides for a minimum guaranteed increase in cash value. Universal life allows you to make flexible premium payments, and your cash value increases based on current interest rates. The increase in cash value in a variable life policy depends on the performance of the sub-accounts (funds) you select. For more information, see Learning Center on Buying Insurance.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
| Not NCUA Insuredor Any Other Government Agency | No Credit Union Guarantee | Not Credit Union Deposits | May Lose Value |
The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: NJ, PA, NY, DE, AZ, MI, FL, MD, TX, VA, GA, NC.
Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.
