Government Plan vs. Private Sector
Results & Benefits
If you die first:With the Government’s Beneficiary Payout Option, your heir has One Payout Option Vs. Four with a private plan:
- 1. The beneficiary may choose a Tax-Free lump sum benefit
- 2. The beneficiary may choose a monthly life payout
- 3. The beneficiary retains total control over the benefit’s principal & interest it generates
- 4. The beneficiary may reinvest the Tax-Free lump sum death benefit received and generate a partially Tax-Free life income
If you survive your beneficiary: With the Government Plan you have One Option Vs. Five with the private plan:
- 1. You may change the beneficiary in the event of the original beneficiary’s death or due to other form of life change
- 2. You may cash the policy in instead of losing all you paid in
- 3. You may annuitize the cash value for Tax-Free income
- 4. You may get a paid-up policy
- 5. You may access Living Benefits for Terminal Illness or Critical Care as a biproduct of the policy’s Face Value
