Have you started saving for your children’s or grandchildren’s college education? If not, now is the time to start.
According to the College Board, earning a college degree can now cost from $52,000 to more than $130,000 — and the cost is rising faster than the rate of inflation. Despite the spiraling price of attaining a diploma, society continues to promote the rewards of the pursuit of higher education.
Did you know that you can use an indexed universal life (IUL) policy to:
- Supplement the expense of a college education
- Help accumulate assets for the future in a tax-favored manner
- Help minimize some of the tax burden on their savings
- Guarantee the death benefit if needed and provide protection to ensure goal completion
For parents whose children will be college-bound within the next decade, an indexed UL plan represents an attractive and innovative option, and Cornerstone Financial Services can help you start planning for the future.