Living Benefits & IULs

Learn how a CollegePLUS IUL from The Policy Shop gives your child living benefits—financial protection that covers more than just tuition. (Living Benefits in My Child’s IUL … Peace of Mind Today and Tomorrow)

Planning for College—And the Unexpected

When I first started thinking about college savings for my daughter, I thought about 529s and standard investment accounts. But something always bothered me—what happens if life doesn’t go as planned?

Illness, injury, disability—these things don’t wait until retirement. And that’s exactly why I chose the CollegePLUS Indexed Universal Life from The Policy Shop. It’s not just a savings tool—it’s a comprehensive protection strategy that includes living benefits my daughter can access if life throws her a curveball.

What Are Living Benefits—and Why Do They Matter?

Most people think life insurance is only about a death benefit. But today’s smart life insurance policies—especially Indexed Universal Life (IUL)—can offer access to the policy’s death benefit while the insured is still alive if certain conditions are met.

With CollegePLUS IUL, living benefits may include:

• Critical Illness coverage (e.g., cancer, heart attack, stroke)
• Chronic Illness protection (e.g., long-term care needs)
• Terminal Illness access
• Tax-free access to a portion of the death benefit when qualifying events occur

These benefits are typically included at no extra cost and can help cover things like medical bills, therapy, or even supplement income during recovery.

Why I Think This Feature Is Underrated

As parents, we tend to assume the best—but prepare for the worst. My biggest fear is having my daughter face a life-threatening condition without the financial support she needs.

With living benefits, I know she’ll have:

• Access to real money if she becomes seriously ill
• Protection that doesn’t rely on crowdfunding or borrowing
• A policy that adjusts to life—not just education

That kind of safety net gives me peace of mind today and gives her options tomorrow.

Real-Life Example: A Friend’s Wake-Up Call

A close friend’s teenage son was diagnosed with leukemia. Their college savings? Locked in a 529. They couldn’t access the funds without taxes and penalties—at a time they needed it most.

If they’d had a CollegePLUS IUL, they could’ve accessed part of the death benefit tax-free, helping cover treatment, travel, and time off work.

That example hit me hard—and reaffirmed why I chose a plan that does more than just save.

Benefits at a Glance – Why Living Benefits Matter

Here’s what makes the CollegePLUS IUL so powerful from a parental perspective:

• ✅ Covers more than college – protection if life takes a turn
• ✅ Tax-free access to cash and benefits
• ✅ No restrictions on how the funds are used
• ✅ Lifetime flexibility—because kids grow and plans change

FAQs – Living Benefits in CollegePLUS IUL

Q1: Do I have to pay extra for living benefits?

No—most CollegePLUS IUL policies from The Policy Shop include living benefits at no additional premium.

Q2: How does my child access these benefits?

If your child is diagnosed with a qualifying illness or condition, the policy can allow early access to a portion of the death benefit. This process is simplified and explained clearly during your consultation.

Q3: Will accessing living benefits affect the college fund?

Yes, but only partially. The total death benefit or cash value may be reduced depending on how much is accessed—but the priority is protecting your child’s life, not just their tuition.

Q4: Are these benefits guaranteed?

Most policies include living benefits as riders, and eligibility depends on the policy terms. A licensed advisor can help ensure the right structure is in place.

Final Thoughts – College Is Just One Chapter

College is important—but it’s not the whole story. The CollegePLUS IUL gives my daughter a safety net that lasts well beyond her time in school.

I don’t just feel like I’m saving for education—I feel like I’m safeguarding her life. And in a world where anything can happen, that’s the most valuable gift I can give.

Ready to Protect Your Child’s Future?

Book a call with The Policy Shop and learn how the CollegePLUS IUL gives your family more than a tuition fund—it gives you total peace of mind.

👉 Schedule your consultation now