Besides the Tax Savings, Are You Aware of These Other Unique Benefits of Offshore Variable Life Policies?
There are significant tax, asset protection and investment diversification benefits available with an Offshore Variable Universal Life (VUL) policy. However, there are additional advantages to consider when evaluating an Offshore VUL policy that you might not have considered in the due diligence process.
Many offshore jurisdictions offer life insurance contract legislation that is better than legislation under U.S. state law. The assets invested with an offshore policy are considered to be in a separate account of the policy and will receive protection from creditors. This is different than a domestic policy which might subject the owner of the policy to creditor risk in the event of an insurance company bankruptcy.
