Maximum Insurance Contract

A maximum insurance contract provides: tax-deferred growth, tax-free distribution, and tax-free wealth transfer.

When purchasing a life insurance contract, there are many options to choose from and can get confusing. At the most basic level, for a defined amount of insurance – let’s use $500,000 - there is a minimum amount of premium that you can pay into the policy and a maximum.


The minimum amount is determined by insurance companies who have actuaries that calculate the minimal amount needed to deliver on their promises. But who created the maximum amount? The government!


Now, if the government puts limitations on something, what does that usually mean?  You know it has to be good! Good as in tax-deferred growth on your cash accumulation and tax-free distributions.


When paying the minimal amount of premium on the bottom, you receive only one benefit and that is a death benefit. This area is also known as term insurance.


Any premium contributions made over the minimum, you begin to receive a myriad of benefits. When you reach the highest amount – or better known as a Maximum Insurance Contract – you are given all of the benefits without being subject to the government’s penalties that other common qualified plans receive - such as 401(k)s.


When you decide to go ahead with a Maximum Insurance Contract, you receive the maximum amount of all of the benefits that you would ever want in a financial vehicle.


And there are quite a few benefits. Tax-deferred growth on your cash accumulation, tax-free distributions that can be taken out for anything such as retirement funding and college tuition, unstructured loan payments, no penalties if an emergency arises and you need the money, protection from stock market losses, liquidity, use, and control of your money at all times, disability benefit, collateral opportunities, leverage, and wealth transfers.

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