College Planning

COLLEGE PLANNING

WHOLE LIFE CAN BE AN OPTION:

Your college funding strategy can include a combination of savigs plans, including whole life.
Many peple think of it as just a death benefit, but it can be part of your overal approach.

•529 PLAN

(Education Savings Plan)

Tax Benefits:
•Income tax breaks
•Tax-deferred growth
•Generally tax-free withdrawals
•Tax-deductible in many states
10% penalty it funds are used for non-education purposes
Subject to market performance
Can pontentially lower the amount of financial aid your child receives

WHOLE LIFE INSURANCE

(Asset & Protection)

Cash value grows on tax-deferred basis and withdrawals are generally tax-free
Cash value can be used for anything at any time
Whole life is unaffected by market fluctuations
The Federal Aid Methodology doesn't include life insurance cash value when calculating expected family contribution

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