Strategies for College Savings: Exploring Cash Value Life Insurance

At its core, life insurance is designed to protect your family in the event of a premature death. However, some permanent life insurance policies are flexible in how they can be used – and can provide value while people are alive. For instance, some people use permanent cash value life insurance to help pay for college expenses even though it’s not a common method for funding higher education. However, it’s easy to see the tax advantages and savings options that are automatically included with most permanent cash value life insurance policies can make a big difference.