Much has changed even over the last 20-30 years in lifestyles, the workplace, family dynamics, healthcare, retirement, and employee benefits.

The insurance industry has worked to keep pace with the new norms, and in recent years, Indexed Universal Life (IUL) has been the fastest-growing life insurance product on the market.

Indexed Universal Life is flexible premium universal life insurance. It's an attractive solution for many people because an IUL policy provides life insurance protection for a lifetime, plus tax-advantaged cash value growth that you can access throughout your life. The flexible premium option allows you to adjust for budget variations throughout life, or to pay a fixed, consistent amount.
When life's circumstances change, as they almost certainly do, you can also change the policy death benefit amount to align with your current needs.

With Indexed Universal Life, indexed accounts make up all or part of the cash value where interest crediting is tied to the performance of a stock or bond index.

At Great Bay Insurance Agency now we are offering our clients a brand new innovative option in the IUL category:

Balanced Growth Advantage

Unlike traditional IUL policies that only provide interest credit up to a cap, Balanced Growth Advantage offers clients uncapped interest crediting potential, and a floor to protect against negative earnings. Clients can choose from a fixed account with a guaranteed minimum interest credit of 2%, from four indexed account options, or any combination of these options. According to FDIC published Weekly National Rates and Rate Caps as of July 18, 2016, the average bank savings account is paying just 0.06% APY, so a guaranteed 2% minimum interest credit is likely much better than what you can earn at your local bank. GBIA BGA2

In addition to the comepetitve interest crediting options and protection available with Balanced Growth Advantage, you can access your accumulated funds for supplemental retirement income, college tuition, a new home or other goals.

Loans allow you to borrow money on a tax-free basis by utilizing your cash accumulation. This option is available at any time after the first policy year – even before age 59½. Balanced Growth Advantage offers fixed and variable loan interest options that may be more competitive than those offered by traditional lending institutions. While partial surrenders will reduce the policy’s accumulation value as well as the death benefit, this is an option to withdraw money from the policy tax-free, based on the amount of premiums paid. In addition, there are additional options available to tailor your Balanced Growth Advantage policy.

This article is intended to provide an overview of the Balanced Growth Advantage Universal Indexed Life product. Click here to download the complete consumer brochure.

For a personalized presentation based on your individual circumstances and selections, please contact me for a free consultation and proposal with a complete explanation of terms associated with your indivdual policy.

Your Great Bay Insurance Agent,

Sandy Salava