Fixed index universal life insurance policies require qualification through health and financial underwriting. The death benefit is generally paid to beneficiaries income-tax-free.

Life insurance doesn’t provide a guaranteed source of income in retirement. There is no guarantee that a policy will earn sufficient interest in any given year to support a loan strategy.

Policy loans and withdrawals will reduce the available cash value and death benefit and may cause the policy to lapse, or affect guarantees against lapse. Withdrawals in excess of premiums paid will be subject to ordinary income tax. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. If a policy is a modified endowment contract (MEC), policy loans and withdrawals will be taxable as ordinary income to the extent there are earnings in the policy. If any of these features are exercised prior to age 591⁄2 on a MEC, a 10% federal additional tax may be imposed. Tax laws are subject to change and you should consult a tax professional.

Diversification does not guarantee a profit or protect against a loss.