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Save for College and Stay Financially Protected? Yes, You Can!

| September 06, 2022

Saving for rising college costs can be challenging. Now, with higher inflation, many universities and colleges are raising their
tuition and other costs, making it even more difficult. It’s not uncommon to hear many of our clients with newborns already
discussing college savings. While you may not be ready to send your child off to a college or university just yet, a bit of planning
today may lessen the financial burden later.

Whole life insurance can be a tool to help you save for the cost of education. Along with a guaranteed a death benefit, whole life
insurance includes a cash value account that grows tax deferred.1,2,3 Assuming you buy the policy when your kids are very young,
by the time they’re ready for college, you can withdraw the money or borrow against the policy to help pay for college.4

At Certified Financial Services we’re dedicated to helping you make paying for college a little easier. We understand that saving for
college can be difficult and we want to provide you with the resources you’ll need as you start creating your strategy. Check out
this helpful flyer to learn more about how whole life insurance can help you save for education expenses!

1All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims paying ability of the
issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.
2Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year. Talk to
your financial representative and refer to your individual whole life policy illustration for more information.
3Guardian, its subsidiaries, agents and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting
professional regarding your individual situation.
4Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan
interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans
considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated
like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be
subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be subject to a 10% federal tax penalty.