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Amplify is the first comprehensive life insurance platform that offers all types of life insurance plans including term, permanent, and cash value life insurance, all at a price that works for you. Leave the commission-driven insurance agents behind, now you can decide what’s best for your family.

Thank you for contacting Amplify Life Insurance. We are a comprehensive life insurance platform offering all types of life insurance plans.

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Want to protect your family and take care of your future too? We got you covered.

Life insurance that takes care of you

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Amplify is the first comprehensive life insurance platform that offers all types of life insurance plans including term, permanent, and cash value life insurance, all at a price that works for you. 

An all-in-one life insurance platform

Yes, you can use permanent life insurance as an asset class. But there’s a caveat. Only permanent life insurance policies, the ones with accumulated cash value, are considered assets.

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Find yourself searching Google for this: Can I use permanent life insurance as an asset class? 

Good news: Yes, you can use permanent life insurance as an asset class. But there’s a caveat. Only permanent life insurance policies, the ones with accumulated cash value, are considered assets, and there are two types: whole life insurance and universal life insurance. 

Does that mean we recommend both types? Not quite. In fact, we don’t even offer whole life insurance (and you shouldn’t ask for it, either) because universal life insurance is a much better option for today’s opportunities. Here’s why: 

### **Whole life insurance is outdated.**

While we help our customers figure out how to use permanent life insurance as an asset class, we don’t offer whole life insurance because it’s little more than a glorified CD. What’s wrong with that? Nothing, it’s just not as dynamic when it comes to using permanent life insurance as an asset class. 

Our recommendation? Choose an indexed universal life (IUL) policy or a variable universal life (VUL) policy. Both are options if you’re looking to use permanent life insurance as an asset class. Here’s the major difference between the two. 

**Indexed Universal Life Insurance (IUL)**: An IUL allows you to grow high—but safe—returns on your premiums. Growth is typically reflective of the market, except your downside is protected with a minimum floor. Essentially, you’ll never lose money, and your annual returns can grow as much as 8-12%. 

**Variable Universal Life Insurance (VUL)**: A VUL allows you to decide how you invest your cash value. Each policy comes with a prospectus with investment options that range from S&P 500 indexes and growth funds to alternative asset classes such as real estate investment funds.   

Want to learn more about the types of permanent life insurance? [Check out our full guide here >>](https://beamplify.com/blog/are-permanent-life-insurance-policies-worth-it)

### **Permanent Life Insurance As An Asset Class: The Benefits**

So, say you *do* get a permanent life insurance policy to use as an asset class. What are the benefits? 

We’re so glad you asked. Here’s what you can look forward to. 

1. **Growth accessed tax-free.** In addition to growing your cash value, your permanent policy allows you to access tax-free growth after a certain period. For most insurance providers, that time frame is 10-15 years after you initiate your policy.  
2. **Tax-free death benefit to people you care about.** Permanent life policies also come with a death benefit, so when you lock in your policy that will never expire and continue to pay your premiums, you’ll be able to transfer your wealth to your beneficiaries.  
3. **Economic condition protection (if IUL):** With an IUL, your cash value can grow with the benefit of a floor. That way, you never have to worry about losing it all to the market no matter how it performs.  
4.  **Growth in the market (if VUL):** With a VUL, you’ll get the benefits of choosing how to invest your premiums and then get to experience the market highs exactly as you see fit.    


**Bonus: This is a great option for college funding.**

Unlike other options for saving for college, a permanent life insurance policy has a cash value that can be used for whatever you choose—not just for college. Why is this important? Because you never know what your children will do long-term, and if you’re saving in a 529, you have to use it for school. But what if your kid gets a scholarship? Or what if they decide to start a business instead of getting a degree? 

With a permanent life insurance policy, you can start as young as you want (yep, babies can have a policy!) and still get a flexible, tax-advantaged account to grow savings for your kids. 

Want more information about how this can work for you? [Get in touch with us today >>](https://beamplify.com/contact-us)  

### **Permanent Life Insurance As An Asset Class: By The Numbers**

Sometimes it’s easy to see how it all works with cold, hard numbers. Here’s a scenario we can share about how an Amplify customer is using permanent life insurance as an asset class. 

**SCENARIO**: Independent Contractor & Single Parent 
- **Age of member**: 35
- Invests $500K at 4% percent 
- **Baseline growth rate in the market**: $2.9 million by age 74 
- **Baseline growth rate if invested as part of a permanent life insurance policy**: 4 million in total assets by 74 

### **Permanent Life Insurance As An Asset Class: FAQs**

Have more questions? We’ve got more answers. Dive below to see some frequently asked questions around permanent life insurance as an asset class. 

**Q: Direct cash withdrawals vs. loans: How does this work?**

In a permanent life insurance policy, you withdraw your principal, and then you take out a loan on the rest of your policy, maintaining the tax-free growth status. If you’re familiar with Roth IRA tax status, this is similar, except you can make as much in annual income as you want. You get access to this anywhere between 10 and 15 years after you sign your policy, depending on your carrier.

**Q: Can a cash-funded policy be used in a liquidity shortfall scenario?**

If you start your policy early—in your 20s or 30s, you can access it from 40-50. Compared to a 401K that you can’t take out until you’re 59.5, there’s more flexibility in this type of savings. 

**Q: What is the benefit to individuals who have maxed out their tax-advantage retirement plan?** 

For people who have maxed out their tax-efficient options when it comes to retirement, this is an option for saving and growing. There is a gap in the market for someone who makes over 100K, but less than 1M, where you need expert financial advice on how to optimize tax efficiency and it may cost thousands or more to work with a financial advisor. Instead of investing all of your money on your own where you may be subject to a boatload of taxes down the line, work with Amplify to see how permanent life insurance can help you save tens of thousands on your future taxes and supplement your overall financial strategy. 

**TL;DR: Permanent Life Insurance As An Asset Class**

Here are three takeaways you need to remember about permanent life insurance as an asset class, even if you remember nothing else: 

**Takeaway #1:** Permanent life insurance differs from whole life and a permanent life insurance policy gives you the opportunity for growth while also protecting your downside, whereas whole life insurance policies are more or less a CD

**Takeaway #2:** Get access tax-free to your cash value starting 10-15 years after signing your policy. Use the cash, then also have the ability to take out a loan against your policy if you need more, without interest. 

**Takeaway #3:** Find additional ways to save more for retirement, especially if you’ve maxed out of your tax-advantaged retirement plans. 

### **In conclusion: Permanent life insurance as an asset class is a good idea. Amplify can help.**

For those looking to make smart use of their money, a permanent life insurance policy with Amplify is your best option. Get a quote in five minutes today. 


Can I Use Permanent Life Insurance As An Asset Class? Here's What You Need to Know. 

Life insurance isn’t tax-deductible, especially if you’re paying for a policy for yourself. But what is available is tax optimization through your life insurance policy.

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**Is Permanent Life Insurance Tax-Deductible?**

Let’s rip the bandaid off: Life insurance isn’t tax-deductible, especially if you’re paying for a policy for yourself. But what is available is tax optimization through your life insurance policy. Unlike a 401K, mutual funds, or stocks, money grown as part of a permanent life insurance policy can be accessed tax-free. What does that mean for you? Big savings. B.I.G. savings when it comes time to use your cash. Let’s explore what you can do with the significant tax benefits from permanent life insurance.  

**Tax-advantaged Growth You Can Borrow Against**

Permanent life insurance policies with cash value offer policyholders an awesome benefit: access to tax-free growth that you can benefit from if you start your policy sooner rather than later. Once you’ve built up that cash value, you can take it out and never have to pay it back or borrow against it and keep earning interest on your borrowed cash. That’s right- as long as you’re still paying for your premiums and your policy is active, you can take out your money and it can still be growing for you.
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**No Taxes on Your Growth**

Even though the answer to “Is permanent life insurance tax deductible” is no, here’s the good news: Your premiums are paid with post-tax money, and you don’t have to pay taxes once money is already inside a life insurance policy. Compared to investing in other types of brokerages accounts, stocks, 401K, real estate, etc. where you have to pay taxes on the money you gain, with your permanent life insurance policy, you can enjoy returns without being taxed on the growth. It’s similar to a Roth IRA, except there’s no limitations on how much you can make every year. [Everyone can have a permanent life insurance policy, even babies](https://beamplify.com/blog/are-permanent-life-insurance-policies-worth-it)!  

**No Guaranteed Loss Means A Guaranteed Win.**

Taxes are a guaranteed loss. Money in the market has no guarantee, it might be a win, or it might be loss. But cash value in your permanent life insurance policy? A guaranteed win. With a permanent policy, you can put in 20K, 50K a year and have it grow and be accessed tax-free, which means you’re getting more, and more, and more. 

**You Get Dividends (If you pick a certain policy).**

If you want to make investments inside of your life insurance policy, there are opportunities for dividends. And because of the tax-deferred status of permanent policies, you can reinvest them and it’s not taxed. When you break down the numbers invested and growing over time, you can actually make up to 30% more in total gains. Here’s a snapshot of the different permanent policies that we offer at Amplify and how you can use them: 
IUL/VUL: With a cash value component to these policies, you can build savings, get tax-free access to gains, and take out the cash value. 
GUL: This is the cheapest form of coverage for your entire life. This will pass down a certain amount of money to your beneficiaries or use if you get sick, but it doesn’t include a cash-value component. 

**There’s One Loophole (But only if you’re the owner of a C-Corp).**

We saved the “what if” conversation for the end. Here goes: What if I am the owner of a C-Corp? Is permanent life insurance tax deductible then? Lucky you, the answer is yes. While we wouldn’t exactly call it kosher, if you’re an owner of a C-Corp, you can deduct the premiums from the corporate income and then bonus the difference, for both yourself and your employees. One of the ways companies do it today is by adding that bonus income directly into a permanent life insurance policy as a perk for employees. Have a question about this unique situation? Talk to our financial experts today. 

**TL;DR Key Takeaways**

Life insurance only taxes on principle—not principal and growth like you would in other investments. 
Taxes are always a loss, so don’t pay more than you have to.  

In life insurance, you can make 6-10% average annual returns. Since it can be accessed tax-free, you’d have to make nearly double that return in most other investment vehicles to equate to the same net gains once you factor in taxes. 

We may have had to dash your dreams when it came to the question: “is permanent life insurance tax deductible?” But in reality, we gave you an even better alternative with all of the tax benefits of a permanent life insurance policy. [Get started with Amplify today in just 5 minutes to start enjoying the perks for yourself](https://quotes.beamplify.com/basic).   

Is Permanent Life Insurance Tax Deductible? 

Want to know what is life insurance all about? Here’s everything you need to know about life insurance and why it’s actually a great way to diversify your savings and grow your wealth.

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Most life insurance policies help pay for final expenses after death, whether that be funerary costs, medical bills, estate settlements, or other unpaid debts. And depending on your policy type, they can also be used to pay a mortgage, a child’s college expenses, medical bills, home renovation, and more. For a permanent life insurance policy in particular, the insured can build cash value and access tax-free wealth that can be used at a later time—in retirement, in an emergency, or even just because.

What can life insurance be used for?

Many corporations and small businesses alike claim life insurance as a business expense. As life insurance is an employee benefit in conjunction with health insurance, it is common practice to deduct the cost of premiums for along with other medical benefits paid to an employee. For those who are 1099 status, it is often not possible to deduct a life insurance policy that you bought for yourself, but there are other ways to use a life insurance policy for tax optimization.

Can life insurance be a business expense?

In short—no. Your death benefit is not taxable by law, and since your cash value is technically your death benefit that’s growing, you don’t have to report those returns and it won’t be taxed as income or gains.

Can life insurance be taxed?

Yes, and it is one of the best ways to create a well-rounded financial plan as you grow your wealth. The best way to do this is to use a permanent life insurance policy to leverage cash value. After ten years with a permanent life insurance policy, you are able to take out your principal and growth of your cash value. We’ve seen people use the savings to make a cash down payment for a house, to remodel, to pay for medical emergencies, as income in the event of job loss, and many other scenarios.

Can life insurance be cashed out?

Good news: You can alter your coverage amount after getting a policy. Often there are some restrictions around how much you can increase and decrease, which you’ll have to work directly with your provider to understand. And here’s more good news: You can transfer an old insurance policy to a new insurance policy with Amplify as long as there is cash value inside the policy. Even better, you can make this transfer without any liability using a 1035 exchange, and we’re happy to help you get started.

Can I transfer, change, or cancel my life insurance policy?

Life insurance enrollment spiked high in the aftermath of COVID-19 and continues to have explosive growth well into 2021 because more and more people are using life insurance as an emergency fund that grows cash value. And unlike traditional term life insurance policies, permanent life insurance with a cash value can be used to pay for car accidents, expensive medical bills, or getting out of credit card debt, to name a few. So whether you’re looking for something to rely on if the worst should happen or just like having the security of a safety net, getting started with a permanent life insurance policy is a smart move.

Is getting permanent life insurance during and after COVID-19 a good idea?

Life insurance should match your personal goals, what you plan to do in the future, and be flexible enough to help you plan. That being said, it’s very typical that no two insurance policies are alike. However, we often recommend starting with a permanent life insurance policy for most people for three reasons:It helps you protect yourself and your beneficiaries in perpetuity. Permanent life insurance is like owning a house versus renting a house—it can be more expensive, but it is a better pay-off in the long run, and you know you're protected no matter what happens. A permanent policy allows you to grow your wealth—it isn’t a payment once a month that you’ll never see the benefit of. With permanent, you can save for the future, make smart tax-efficient money moves, and build a safety net that you (as the insured) can use in your lifetime.

Which life insurance policy should I get?

What is Life Insurance All About? We Spill the Secrets (& Benefits) on Why This Financial Planning Tool is Your Next-Best Move. 

Permanent life insurance has benefits such as access to cash, lifelong protection, and dual coverage for health emergencies. Learn about the differences between perm and term, and the types of permanent life insurance policies that might be a good fit for you.

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Many of you might have heard the terms “whole life” or “universal life” and might be wondering what they are. These are actually different types of permanent life insurance. Although permanent life insurance has been around since the 1940’s, much of how it works, the different types of policies, and who the policies are most suitable for is still a black box for many. Today we would like to clear the air about permanent life insurance so that you may be the judge on whether it’s right for you and your family.

## What is permanent life insurance?

Permanent life insurance is an overall term for life insurance policies that do not expire, compared to term policies that expire within a given number of years (i.e. 5, 10, 15, 20, 30 years).

Often, permanent life insurance allows you to build cash value that grows tax-deferred and can be accessed tax-free through loans and withdrawals. Depending on how much cash value is built up in the policy, loan amounts may not have to be paid back (since you are leveraging against your own death benefit). Carriers typically will charge either a very low interest or no interest on the loan.

Permanent life insurance also offers a plethora of riders including long term care, critical illness, term riders, and more. Most of the time, these riders will allow for a portion of or the entire coverage amount to have a dual purpose: a death benefit and for the purpose of the rider. For example, a $500,000 life insurance policy with a long term care rider will allow for the $500,000 to be used for long term care if the individual needs it in his/her lifetime and if not, the $500,000 will be passed down as a death benefit to his/her beneficiary.

## How does it work?

Permanent life insurance allows you to put one amount of money to be used for several different purposes: life insurance coverage, high interest savings or investment account for supplemental retirement income, and additional rider coverage.

It’s no surprise that permanent life insurance can be such a confusing topic; each permanent life insurance policy should be designed for the individual’s needs and each policy is highly customizable. In addition, almost every carrier has a permanent life insurance product with a specific focus, suitability, and cost structure and there are 852 life insurance companies in the U.S. (That’s a lot of different products!)

The process of purchasing a life insurance policy usually starts with an analysis of the individual’s goals and needs including:
- How much overall coverage is needed (and how much is already in place)
- Affordability
- Interest in investment and risk tolerance
- Long term goals and other invested assets
- Desired length of payment 
Then, once all that is determined, the insurance advisor will select a carrier and product that would be most suitable for the age, desired needs, and health risk of that individual to apply for. After an application is submitted and a medical exam completed, the insurance carrier will (after underwriting) determine a health rating and a premium amount for the policy. Then the policy will be reviewed and delivered to the client.
For example, if a 35 year old male needs: 
- $1,000,000 of life insurance coverage (liabilities + 5 times his/her annual income)
- Supplemental retirement account 
- Low risk tolerance
- Long term care protection
Customized solution: 
- $250,000 index universal life insurance policy 
- Long term care rider
- Overfunded for supplemental retirement income. The cash value grows interest based on an index that has a designated cap of 15% and a floor of 0.75% so the individual will not lose money when the market is down. 
- $750,000 20 year term life insurance policy (which is what he had left on his mortgage)
- Premiums are paid for 20 years for the term policy and until age 65 for the permanent life policy

## Our Suggestions

Permanent life insurance can be a great product to add to your family’s plan when used in the right way. Although it is pricier than term life, permanent life insurance can provide much more value for you and your family. Some of the most popular benefits of permanent life insurance includes: lifelong protection, living benefit riders, tax-free supplemental retirement income, and protection against creditors for your assets. 

When learning about the best life insurance for you, make sure to consider permanent life insurance or a combination of term and permanent life insurance, and clearly understand the guidelines on how to utilize this vehicle to maximize its long term benefits.

Since these policies are highly customizable, it’s best to work with an experienced advisor and go through a consultation before choosing the right policy for you.

Permanent life insurance - is it for me?

Permanent life insurance is an overall term for life insurance policies that do not expire.
Often, permanent life insurance allows you to build cash value that grows tax-deferred and can be accessed tax-free. Permanent life insurance also offers a plethora of riders including long term care, critical illness, term riders, and more. Most of the time, these riders will allow for a portion of or the entire coverage amount to have a dual purpose: a death benefit and for the purpose of the rider. For example, a $500,000 life insurance policy with a long term care rider will allow for the $500,000 to be used for long term care if the individual needs it in his/her lifetime and if not, the $500,000 will be passed down as a death benefit to his/her beneficiary.

No, whole life is not synonymous with permanent life insurance. It is a type of permanent insurance and has been around for over 175 years. It offers savings at conservative, guaranteed rate of return, such as 3-5%. With whole life, you typically cannot change your premiums or your coverage amount throughout your life. In addition, average whole life insurance premiums could cost 1.5-3x higher than other permanent life insurance product types for the same coverage amount. There are other types of permanent life insurance products designed to cover you for your entire life and that offer more flexibility and higher cash accumulation returns.

Accessing your cash value tax-free from your life insurance policy involves withdrawing all of your premium payments tax-free and then loaning the rest of the value out from your death benefit. In cash value life insurance, your life insurance death benefit will grow over time with the cash accumulation value. Therefore, by taking an interest-free loan from your death benefit, you are essentially retrieving the cash returns of the “extra” premium you’ve invested that didn’t go towards the cost of insurance and other fees of the policy. Then, your death benefit will naturally pay back the loan once you pass and the beneficiaries will receive the rest.

Buying life insurance from Amplify is easy!\
A. Complete our needs analysis by clicking on Get a Quote\
B. Compare and contrast product types and options\
C. Get pre-approved for a quote that best fits your needs by hopping on a 5min call with an in-house licensed expert\
D. Our case managers will help you get The best rates for the plan you’re looking for. They might ask you a few more questions in order to help you get the best deal.\
E. Once you’re approved, we’ll need to verify that you have a US bank account.\
F. You’re all set! Enjoy financial security with an Amplify life insurance policy

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We partner with over 75 A-rated life insurance companies to make sure you’re getting the best rates with the best providers.

The best life insurance veterans are behind you.

Simple life insurance that pays out in the event of your death and protects you for a limited period of time (5, 10, 15, 20, 30 years) before expiring.

Temporary

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Life insurance that lasts for your whole life and never expires. 

Also, you can add features like using the coverage for cancer, stroke, and other health emergencies.

Basic Permanent

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Can’t decide between a large coverage and permanent protection? 

Not to worry! Get a plan where you can maximize your coverage today and still get long term benefits like lifelong coverage and/or access to cash value.

Combination

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In addition to lifelong coverage, your policy can accumulate cash value tax-deferred and you can access it for whatever you want - for example, retirement, college education, buying a house, the list goes on!

Retirement Income

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Take control of your life insurance

Protect what matters to you when life gives you lemons. Worried about life events, health emergencies, or retirement savings? Now you have the power to choose what you want to protect with your policy.

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We've helped many customers secure their financial future. Here are some of their stories.

Happy customers

Mike P

Extremely user friendly process! I was able to filter out all the complicated, hard to understand products I didn't need or want. My agent worked with me to find the one that worked best for my family's goals. I have recommended Amplify to friends that are in the same boat.

Great Experience

Sean

I really appreciate their customer focus and professional service. I got a great recommendation for a life insurance product that suits my needs, and the process was very clear. Really happy with the final outcome. Highly recommend Amplify!

Amplify is amazing!

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 Sofai Leomiti

From start to finish I was always able to speak to my consultant and she answered all of my questions. The convenience of being able to call text and email is a perk as well!

From start to finish

Clifford

Jen took the time to explain the different life insurance products. I ended up selecting the cash value life insurance to diversify my financial portfolio and add permanent coverage to my existing term life insurance. The process was seamless and very user friendly.

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