A Permanent Solution: Wealth Building Strategies

Creating an alternate asset class outside of your investment portfolios is easier than you think.

Permanent Insurance is a powerful, strategic tool to grow wealth in a tax deferred manner. Building your estate value, retirement income, transferring your legacy to the next generation. All of these things are possible with the right plan.

Most permanent Universal Life insurance plans will grow like an investment because any overfunding, above the premium, will be invested. What does this mean? Simply put, any money you contribute above the base cost of the policy will be placed in a separate account (managed portfolio) and will grow on a tax deferred basis over the life of the policy. This has the benefit of increasing the death benefit of the plan over time and creating wealth.

Term insurance on the other hand, has a fixed expiry date, and rising costs at time of renewal. Permanent insurance can be level, the costs never go up. The younger you are, the more cash value will accumulate over time within the plan and become a future asset.

There is value in using permanent insurance as part of your risk management strategy.

You can mix and match both Term insurance for temporary needs, (Mortgage, consumer debt, family income, child care) and permanent insurance for tax deferred growth, cash surrender value and generating another source of income for retirement. The options are many.

Ozturk Financial Services is here to help you find the right insurance product that best suits your needs.

Speak to us today.

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