07/31/2022
Saving for College: Life Insurance or 529?
KEY TAKEAWAYS
529 plans and permanent life insurance are two ways to create college funds for kids; both have pros and cons.
A 529 plan allows tax-deferred saving with tax-free withdrawals. The downside is that it counts as an asset when you apply for financial aid, while a life insurance policy doesn't.
Permanent life insurance includes a savings feature that can be used for college expenses; the downside is costly fees.
Questions about life insurance? Text or call Bryan 916-216-6800
Full article
https://www.investopedia.com/articles/personal-finance/102915/life-insurance-vs-529.asp
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