LIFE INSURANCE:

If you need insurance protection for the long term, want the potential to build cash value (money from which you can borrow, even during your lifetime) and have a little more money to spend, consider permanent life insurance.

There are three types of permanent insurance:

• Whole life insurance builds value based upon a set schedule. You’ll know the exact cash value of your policy on each policy anniversary. (If you take a loan or withdrawal from your policy, of course, the cash value and death benefit will decrease.)
• Universal life insurance earns a fixed interest rate on the cash value in the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate.
• Variable universal life insurance lets you invest your cash value in the stock market, so your policy value goes up or down based on the performance of your investment choices. The investment subaccount options in VUL policies are not offered for sale to the general public.