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December 01, 2009 at 07:00 PM
Company Name: Americo Financial Life and Annuity Insurance Company
Phone number: 800-231-0801, Ext. 8410
Website: www.americo.com
Product name: Lifetime Legacy
- Availability: All States Except AL MS NY VT WA
- Issue ages: 55-85
- What is the minimum single premium? $15,000
- What is the guaranteed minimum interest rate? 4%
- What is the death benefit? The Guaranteed Minimum Death Benefit is guaranteed for the lifetime of the insured, assuming no policy loans, withdrawals or accelerations of the death benefit are taken. The Guaranteed Minimum Death Benefit is based on the single premium, age, gender, and smoking class of the proposed insured.
- What are the surrender charges? Lifetime Legacy policies can be surrendered at any time for 100% of the guaranteed cash surrender value. If surrendered in the first five years, the guaranteed cash surrender value will be less than the amount of the initial single premium payment.
- Can insured take out a loan against the policy? Yes
- Other features: Accelerated Benefit Payment Rider: the policyowner can receive up to 80% of the death benefit, less any loans, if the insured is permanently confined to a nursing home or diagnosed with a qualifying terminal illness.
Company Name: Assurity Life Insurance Company
Phone number: 800-276-7619, Ext. 4507
Website: www.assurity.com
Product name: Legacy Estate Maximizer
- Availability: All States Except NY
- Issue ages: 0-85
- What is the minimum single premium? Minimum face amount is $5,000
- What is the guaranteed minimum interest rate? N/A
- What is the death benefit? Maximum issue amount is $150,000 net amount at risk (NAR) age 66+; Maximum NAR 0-65 is $200,000.
- What are the surrender charges? N/A
- Can insured take out a loan against the policy? Yes
- Other features: Accelerated benefits riders; accidental death benefit rider
Company Name: Aviva Life & Annuity Company
Phone number: 800-367-3669
Website: www.avivausa.com
Product name: Multi Choice Indexed Single Premium Life
- Availability: All States Except MA MT NY PA VT
- Issue ages: 50-85 (Age Last Birthday)
- What is the minimum single premium? Greater of $10,000 or the amount required for a $25,000 face amount
- What is the guaranteed minimum interest rate? 2% minimum annual effective interest rate
- What is the death benefit? Level Death Benefit Option
- What are the surrender charges? 12 year decreasing schedule. Ages 50-75 (7/6.5/6/5.5/5/4.5/4/3.5/3/2.5/2/1.5/0) Ages 76-85 (6/5.5/5/4.5/4/3.5/3/2.5/2/1.5/1/0.5/0)
- Can insured take out a loan against the policy? Yes
- Other features: Free withdrawals of up to 10% of CV per year after first year, Nursing Home Waiver, Accelerated Death Benefit Rider, Life Protector Rider
Company Name: Aviva Life & Annuity Company
Phone number: 800-367-3669
Website: www.avivausa.com
Product name: Multi Choice Single Premium Life
- Availability: All States Except MA MT NY PA VT
- Issue ages: 50-85 (Age Last Birthday)
- What is the minimum single premium? Greater of $10,000 or the amount required for a $25,000 face amount
- What is the guaranteed minimum interest rate? 3% minimum annual effective interest rate
- What is the death benefit? Level Death Benefit Option
- What are the surrender charges? 12 year decreasing schedule. Ages 50-75 (7/6.5/6/5.5/5/4.5/4/3.5/3/2.5/2/1.5/0) Ages 76-85 (6/5.5/5/4.5/4/3.5/3/2.5/2/1.5/1/0.5/0)
- Can insured take out a loan against the policy? Yes
- Other features: Free withdrawals of up to 10% of CV per year after first year, Nursing Home Waiver, Accelerated Death Benefit Rider, Life Protector Rider
Company Name: Calkins Kramer Insurance, Inc.
Phone number: 800-888-1973
Website: www.calkinskramer.com
Product name: Money Guard Reserves
- Availability: All States Except NY
- Issue ages: 30-80
- What is the minimum single premium? $25,000
- What is the guaranteed minimum interest rate? 4%
- What is the death benefit? Depends on age and amount of deposit
- What are the surrender charges? 20 years
- Can insured take out a loan against the policy? Yes
- Other features: Return of premium, LTC benefits, convalesant care, extension of benefits, Tax Free Death benefit.
Company Name: Equitable Life & Casualty
Phone number: 800-352-5170
Website: www.EquiLife.com
Product name: Legacy Life 1
- Availability: All States Except AK CA DC FL HI MA MN NJ NY WA WI
- Issue ages: 18-85
- What is the minimum single premium? There is no minimum single premium. Minimum face amount is $2,000.
- What is the guaranteed minimum interest rate? Annual Interest rate for Reserve Calculation is 4%. Annual Interest rate for Cash Value is 5%.
- What is the death benefit? Full benefit selected is payable whenever death occurs, from the very first day of coverage. Face amount available from $2,000 – $100,000.
- What are the surrender charges? N/A
- Can insured take out a loan against the policy? Yes
- Other features: Benefits are guaranteed to never decrease. Living Benefits Available if a Terminal Illness strikes, Special 48 hour claim service, Benefits paid in a Single Lump Sum or other options are available, Endowment Benefits – Paid when insured reaches age 100 and is still living. Benefits generally pass Free of Taxes to your beneficiary. Optional Accidental Death Benefit, pays Double the face amount is paid if the insureds death is the result of an accident, or within 180 days of an accident. The benefit is Tripled if death is the result of an accident while riding on a common carrier such as a commercial airliner, train, bus, ship, etc., or as the result of a terrorist act within the United States.
Company Name: Illinois Mutual
Phone number:: 800-437-7355
Website: www.IllinoisMutual.com
Product name: Life Foundations Whole Life (Single Pay Option)
- Availability: All States Except AK HI MT NJ NY
- Issue ages: 0-80
- What is the minimum single premium? Based on minimum death benefit of $10,000
- What is the guaranteed minimum interest rate?
- What is the death benefit? Minimum $10,000
- What are the surrender charges? NA
- Can insured take out a loan against the policy? Yes
- Other features: Participating policy; Guaranteed Protection to 121; Accelerated Death Benefit
Company Name: Mutual Trust Financial Group
Phone number: 800-323-7320, Ext. 5309
Website: www.mutualtrust.com
Product name: Legacy One
- Availability: All States Except AK NJ NY
- Issue ages: 0-85
- What is the minimum single premium? Whatever premium is required to purchase minimum face amount, which is $5,000. Premiums vary by underwriting class, sex and issue age. No additional premiums are allowed after the initial single premium.
- What is the guaranteed minimum interest rate? 4.0%, but the interest earned is offset by expense and mortality charges.
- What is the death benefit? Equals the face amount.
- What are the surrender charges? None
- Can insured take out a loan against the policy? Yes
- Other features: Optional rider: Accelerated Death Benefit. Offers: *Tax-deferred growth; *Income tax free death benefit to heirs; *Loan and withdrawals of dividend values allowed (subject to income tax on last-in/first-out basis if issued as MEC, plus a 10% IRS penalty may be imposed on loans/withdrawals of dividend values prior to age 59-1/2).
Company Name: National Life Insurance Company
Phone number: 800-229-3333
Website: www.nationallife.com
Product name: LifeBuilder 1
- Availability: All States
- Issue ages: 0-85
- What is the minimum single premium? Minimum face amount is $25,000; minimum premium is that which will purchase $25,000 and will vary by issue age, sex and rate class
- What is the guaranteed minimum interest rate? Product is participating whole life; guarantee basis is 4%, 2001 CSO.
- What is the death benefit? Varies by issue age, sex & underwriting class for a given single premium
- What are the surrender charges? none
- Can insured take out a loan against the policy? Yes
- Other features: Terminal, chronic & critical illness accelerated benefit riders.
Company Name: National Western Life Insurance Company
Phone number: 800-760-3434
