I want to take a few moments to explain how juvenile life insurance can be used to accumulate and transfer significant wealth for your children or grandchildren – capital gains, estate, gift, generation-skipping and income tax free.
Juvenile life insurance is a tax-advantaged financial product that leverages the lower cost of insurance for a child to provide tax-deferred growth, fully-paid guaranteed insurance coverage for life, and flexible tax-free access to cash value, at any time, for any purpose.
Juvenile life insurance is ideal for parents and grandparents who want to:
- Save for college, wedding, a new home or any other goal
- Grow cash value tax free
- Protect assets from creditors, lawsuits and (ex-)spouses
- Transfer wealth to reduce taxes by taking advantage of generous lifetime joint gift tax exemptions that will expire on December 31, 2012
- Guarantee future insurability for children and grandchildren regardless of future health, lifestyle or residence
- Ensure financial security for children, grandchildren and great-grandchildren
As owner of the policy, you control access to the funds and may take tax-free withdrawals or loans at any time, for any purpose, or you may appoint a custodian or trustee to manage the policy. When your child or grandchild will have an insurance need of his or her own, you can transfer the fully-paid permanent insurance policy (regardless of future health or insurability) to protect and provide savings for their future family — an additional gift for life that can provide a tax-free legacy for your future grandchildren or great-grandchildren.
To learn more about child life insurance or juvenile life insurance can fit into your financial planning goals, contact New Amsterdam Life at 866-881-6262.
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the best thing you can do, is call the insurance comanpy and tell them. The reason is that it may buy you some time, even a partial payment looks better than nothing, so send them something, most people, don’t say or write to explain, and believe it or not, you are better off communicating with the insurance, sometimes there you talk to them, work a deal, and later get a cancellation notice, with maybe a small refund. DON’T PANIC, DON’T CASH THE REFUND, AS LONG AS THAT REFUND CHECK IS NOT CASHED, YOU STILL HAVE INSURANCE sometimes even when you make a payment arrangement the computer generates a letter, and someone else just mails it by mistake, you then call back with the details of who, and when, and what the arrangement was, because you made notes when you called to arrange late payments, it works, but pay it as soon as you can, Keep in mind, things are tough all over, insurance companies know this, but if you do not ccommunicate they will not know, and if you get some real butt head on the phone, don’t argue, hang up asap, call back in an hour and find someone who just ate lunch, they may want to help you if they can, you never know, its always worth a phone call, good luck.
The land of freedom. Drink a drink as well as we rmovee your insurance, your job, everything. From what we listen to around the media a US some-more as well as some-more develops in to a persecution of a profit-oriented corporations. If we do not comment for most income you’re value nothing. It all leads to reduction as well as reduction personal, in isolation freedom.