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No Load Life Insurance was designed to qualify as a "life insurance contract" under the Internal Revenue Code.
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Advantage No Load Life Insurance

Tax Efficiency

No Load Life Insurance was designed to qualify as a "life insurance contract" under the Internal Revenue Code. As such, it is afforded certain favorable tax treatments, among which are the following*:
  1. Policy values accumulate income-tax free,
  2. Policy proceeds pass income-tax free to your estate,
  3. Partial withdrawals are income-tax free up to your policy's cost basis (see Note below), and
  4. Policy loans are not treated as taxable distributions as long as your policy remains in force (see Note below).
Note: Based on current tax law, distributions are not treated as taxable distributions if the policy is not a Modified Endowment Contract ("MEC) under section 7702A of the Internal Revenue Code. Other tax laws may affect this treatment.

* Information presented is not intended to be tax advice. Please consult your tax advisor for more information regarding the tax implications of any policy illustrated.




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