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Saving for Higher Education with Whole Life Insurance

| September 09, 2019
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College costs are constantly rising and it’s only getting tougher to save for it. So, paying for your child or grandchild’s college education tomorrow requires planning today. A whole life policy is a great way to save for college tuition. Along with guaranteeing a death benefit, whole life insurance features a cash value
account that grows tax-deferred1. Assuming you buy the policy when your kids are very young, by the time they head to college, you can withdraw2 the money or borrow against the policy to help pay for college.


Additionally, life insurance policies don’t count as assets when colleges analyze your need for financial aid. Consider a whole life policy today to make paying for college easier. At Independence Planning Group, we understand how difficult it can be to save for college and want to provide you with Various options before
you start planning.


View this brochure for more information on how whole life insurance can be used to fund your child’s tuition and contact us today to discuss putting this plan into motion!

1Guardian, its subsidiaries, agents and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting
professional regarding your individual situation.
2Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and
loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding
loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are
treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also
be subject to a 10% federal tax penalty.
Guardian® is a registered trademark of The Guardian Life Insurance Company of America.
2019-83931 Exp. 8/21

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