Whole Life Insurance can handle the contingencies of life
What happens if I live a longer life than anticipated?Great! You have a conservative source to supplement your income that can help you sustain your standard of living throughout your retirement. What happens when I die? Your beneficiary will immediately receive the tax-free death benefit guaranteed by the contract. Those dollars can then be used for whatever purpose the beneficiary deems appropriate. What happens if I'm forced to discontinue premium payments? After several years, the cash value of your contract should be able to keep the contract in force for a period of time, possibly a long time. At some point, the contract will have a substantial number of years of paid-up insurance. No additional premiums will be necessary to keep the contract in force, on a reduced paid-up basis or extended term basis, although cash values may be drawn down. Existing loans, new loans and loan interest will draw down the cash value at a faster rate. I will: - attend the best school...
- land the best job...
- find the perfect mate...
- raise happy, healthy, successful kids...
- climb the ladder of success...
- maintain optimal health...
- grow old with grace...
- leave my family financial secure...
If only... If only life followed such a script. But life is an unpredictable, unscripted adventure. And when the unexpected occurs, our responsibilities remain. Our commitments typically extend even beyond our own lifespan. Wouldn't it be comforting to know that we can assure lifelong preparation for whatever script life ultimately writes for us? The foregoing is neither a contract nor an offer to contract, but is a general description of benefits available under a contract providing the benefits outlined. The exact provisions, terms and conditions of the contract are set forth in detail in an such contract as may be issued. Rates and benefits are based on applicant's age and ability to qualify. The contract has limitations. For costs and complete details of coverage, contact your American National insurance agent. 1 Tax-deferred growth: income and growth an accumulated cash values have been held by the Tax Court to be generally taxable upon withdrawal. (T.H. Cohen, 3a TC 1055 (1963), ace.1964-1 CB 4 also, IRC Sec.72) Consult your tax advisor or attorney on your specific situation. 2 A two-year suicide provision is included in policies (one year in Colorado and North Dakota). If a policyholder commits suicide during the first two policy years, only a refund of premiums will be made. (Missouri requires coverage for acts of suicide, unless it can be proven that the insured intended suicide at the time the application was completed). 3 Tax-free death benefits - Proceeds from a life insurance contract paid because of the death of the insured re generally excludable from the beneficiary's gross income for tax purposes. (IRC Sec. 101(a)(1))
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