Kids College Education Funding
Funding a college education is incredibly important for several key reasons: By prioritizing and planning for college education funding, families can ensure that their children have the resources needed to pursue higher education and achieve their goals.
5/8/20241 min read
College education funding
We have a innovative strategy that blends protection with savings growth. Here’s how it can be leveraged:
Cash Value Accumulation: The cash value grows based on the performance of a selected stock market index, offering growth potential while protecting against market downturns. This accumulation can be substantial if the policy is started early.
Tax-Advantaged: The cash value grows tax-deferred, meaning you won’t pay taxes on the gains while they accumulate. Furthermore, withdrawals and loans from this solution are typically tax-free, which can be beneficial when paying for college expenses.
Flexible Payments: This strategy offer flexible payments, allowing you to adjust contributions based on your financial situation. This flexibility can help you manage other financial commitments while still saving for college.
Access to Funds: You can access the cash value through loans or withdrawals to pay for tuition, room and board, books, and other educational expenses. The money can be used at any type of school, including trade schools and colleges.
No Contribution Limits: Unlike 529 plans, this strategy do not have annual contribution limits, giving you more flexibility in how much you save each year.
Non-Impact on Financial Aid: The funds in this strategy are generally not considered assets for financial aid calculations, which can be an advantage when applying for student aid.
Personal Protection: While saving for education, you also maintain a personal protection benefit that can provide financial security.