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529 Plan vs. Cash-Value Life Insurance: The Better College Funding Strategy for Your Family
Paying for college requires more than choosing an account. You also need to consider tax treatment, investment risk, financial aid, flexibility, family protection, and your broader financial goals. Two strategies often appear in the conversation: a 529 plan and cash-value life insurance. A 529 plan is designed specifically for education savings. Cash-value life insurance is designed primarily for long-term protection, but it may also accumulate value that you can …