Delta Pilot GVUL Information Part 2

Is a GVUL a good investment?

It just depends. By putting money in a GVUL, it’s not going to grow at the most efficient rate. If you invested tax-efficiently inside a brokerage account, and you do tax loss harvesting during the bad years, you could argue that it’s probably better to do that and have liquidity versus locking funds up. However, a lot of people like the idea of depositing money into this so it grows and you get the tax deductibility right away.

What to do before investing in a GVUL:

  1. Eliminate all debt (Credit card, car, etc)
  2. Have an emergency fund in place (6 months living expenses)
  3. Save pre-tax into your airline 401k plan
  4. Do a backdoor Roth IRA
  5. Then, contribute to the GVUL if you’re still in the 37% tax bracket and trying to get out

What happens when you leave the airline?

When you leave the airline, the GVUL policy is portable. However, you’re going to have to keep paying those premiums for your policy. Keep in mind that when you pull the money out, it is going to be taxed as income, not capital gains. When you pass away, your your beneficiaries will inherit this money as income.

If you missed our prior video on Delta Pilot GVUL information, click here to watch that.

Contact us if you have more questions. Click here to schedule a consultation with one of our financial advisors.

Casey Smith
President, Wiser Wealth Management

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