Types of Life Insurance Plans and Policies

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Life insurance can be about much more than just providing for your family if you pass on. Of course, it can give you and your family peace of mind that they will be taken care of if the worst happens. What you may not know, however, is that certain types of life insurance can also be a vehicle for building wealth in the long run. Here is some more information on the various types of life insurance that you can buy.


Term Life

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Permanent Life Insurance


Traditional Whole Life Insurance

Looking at Whole Life for What It Really Is!

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Universal Life / Variable Life and
Indexed Universal Life Insurance

In an effort to compete with the stock market boom in the 80s many insurance companies sacrificed their reputations and products by unbundling the guaranteed contracts that they had in Whole Life and created these hybrid policies. These policies should not be considered permanent life insurance because they offer no real guarantees to the consumer. The risk is taken off the insurance carrier and placed onto the unsuspecting consumer in an attempt to “get a higher rate of return.” These hybrid policies are not savings vehicles, they should be considered speculative investments. We do not recommend using a universal policy for Infinite Banking.

To learn more about how you can build your personal wealth or ensure that your family is taken care of in case something happens to you, contact the financial professionals at Factum Financial. We can help you plan for the future.