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. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.
Securities and insurance offered through LPL or its affiliates are: