IT JUST MAKES SENSE!

Transcription

1 IT JUST MAKES SENSE! Simplified Issue Whole Life Insurance From United Home Life/United Farm Family Life Insurance Companies

2 Agent: Life insurance from United Home Life and United Farm Family Life can do so much for your loved ones, for you, even for your favorite charity. The coverage you purchase will help ease financial burdens placed upon your loved ones when you die such as dayto-day expenses, an outstanding mortgage or other financial responsibilities. Your beneficiaries receive the policy benefit on an income tax-free basis, based on current law. As the owner of a life insurance policy, you re in control. You can choose who the beneficiaries are (subject to insurable interest), you can borrow against the policy cash values, and you can exercise other policy options. Your insurability is protected changes in your health could prevent you from being able to purchase life insurance later on. Keep in mind: You can use a beneficiary designation to leave a portion of the policy benefit to your favorite church, school or other non-profit organization. Borrowing from a life insurance policy reduces the death benefit by the amount of the policy loan plus interest. You should always consult your own tax advisor with questions about the taxability of life insurance policy proceeds. I m a licensed life insurance agent, not an attorney nor do I give advice about taxation. 2

3 What Life Insurance Offers: A benefit for final expenses and other financial burdens. Total control over your policy. Protection for you.

4 Agent: Births, marriages, even divorce and death can all change family dynamics and structures. Life insurance from UHL/ UFFL can change with these events you can purchase additional coverage, lower face amounts, and use policy riders and benefits to custom-tailor your policy. If you change jobs or careers, or are downsized, life insurance can change with you by decreasing coverage if you have to, or through policy loans or exercising the reduced paid-up option to keep at least some coverage in force to protect your loved ones. Changes in the economy or your financial resources can affect your spending habits. Life insurance can change with you you can purchase additional coverage or decrease existing coverage; if needed, you can take a policy loan for premiums or exercise policy options such as reduced paid-up insurance. 4

5 Life Has No Guarantees... Changes in: Family dynamics Employment status Financial resources can leave you and your loved ones uncertain about the future.

6 Agent: Life insurance from UHL/UFFL DOES have guarantees! Your UHL/UFFL life insurance coverage is guaranteed to be in place when it s most needed, provided premiums are paid as described in the policy. Cash value growth is guaranteed for the life of your policy so long as premiums are paid. The death benefit of a life insurance policy, under current law, is paid to your beneficiaries on an income tax-free basis. That means your loved ones receive the full amount of coverage under your policy, less any policy loans. Consult with your tax advisor if you have any questions about this. Keep in mind: If there are any policy loans, those will be repaid first, reducing the death benefit by the amount of the outstanding loans. A reduced paid-up option is available in UHL/UFFL final expense policies which gives you the right to use the policy s surrender value as a single premium to purchase a lower amount of coverage that will remain in force with no more premiums due. 6

7 But Life Insurance Does! Cash value growth, An income tax-free benefit, And coverage when it s most needed.

8 Agent: What will your loved ones need to spend to carry out your end-of-life wishes? The average cost of a funeral, according to the National Funeral Directors Association, is $8,508. This is according to its last Member General Price List survey released in The cost of flying a body from one location to another, if you want to be buried in a different state, or even another country, can add thousands of dollars to final expenses. Sealed and/or double caskets, wooden airline trays, and documentation in the appropriate language are all requirements. Take time to write down your final wishes. Research your options. UHL/UFFL has partnered with Dignity Planning to help estimate final expenses. I can show you how to do a no-obligation online plan that will give you an idea of what it could cost. I also have this complementary guide, The Next Steps, in which you can put down your thoughts, then keep it with your policy and other important documents. 8

9 Final Expenses: Did you know? The average cost of a funeral today is $8,508.* A final flight is an additional expense. Flowers, special facilities, markers, stationery, music, meals, and other items can add thousands more to the total cost. *Source: 2015 General Price List, National Funeral Directors Association, nfda.org

10 Agent: You do have options, and the decision is yours. You can: Purchase life insurance today. UHL/UFFL has coverage available in amounts up to $200,000, depending on your age and the type of product you want. And you don t need to undergo any exams or bodily fluids testing simply answer a few health questions and do a quick phone interview to determine eligibility. Purchase a smaller policy today, to get at least some coverage in force, and add another policy at a later date. Plan to purchase life insurance at some point, while risking that your health could change which can limit your product options and coverage amounts. Let your property and other assets be used to cover your final expenses, potentially adding a tax burden for your family, depending on the property sold. Consult your tax advisor for more information. 10

11 It Just Makes Sense! To provide your loved ones with financial resources to take care of your express wishes and other end-of-life expenses, as inexpensively as possible, what choice will you make? Purchase a life insurance policy. Liquidate my assets, such as real estate and personal property.

12 Agent: If client wants to purchase insurance: You ve made a good decision. Now, let me help you act on that for the benefit of you and your loved ones. Let s get an application started. (Agent reviews products available, providing consumer materials to applicant. Then, using a paper app or eapp via tablet or laptop, complete the app questions and call in for the PHI. Have all parties to the application personally sign where indicated, or if signing electronically through eapp, each party should click where indicated. Verify ID, bank account information. Agents CANNOT click-sign for any party to any application.) If client wants to purchase insurance at a later date: Sure, I understand. Let s set up an appointment. (Agent asks client to commit to an appointment in 2 weeks, 3 weeks, etc.) If client hesitates to set up an appointment: No problem, I ll touch base with you in few weeks. In the meantime, I ll leave this material with you so that you can review it, and talk with your family about purchasing life insurance from UHL/UFFL. 12

13 It Just Makes Sense! To provide your loved ones with financial resources to take care of your express wishes and other end-of-life expenses, as inexpensively as possible, what choice will you make? Purchase a life insurance policy. Liquidate my assets, such as real estate and personal property.

14 Agent: The companies I represent were founded in 1948 and 1937, respectively, and are based in Indianapolis, IN. Both companies have received financial strength ratings from A.M. Best, a leading independent analyst of the insurance industry since UHL is rated A- Excellent and UFFL is rated A Excellent. These are the 4th and 3rd highest financial strength ratings, respectively, of the 16 ratings that AM Best assigns. Combined, UHL and UFFL have over $2 billion in assets and more than $20 billion of life insurance in force, so they are well-positioned to meet their obligations to policy owners like you. I ll leave you a brochure about the companies (About Our Companies). 14

15 About United Home Life & United Farm Family Life Insurance Companies The companies were founded in 1948 and 1937, respectively. United Farm Family Life is United Home Life s parent company. Both companies have financial strength ratings from A.M. Best: United Home Life: United Farm Family Life: Over $2 billion in assets. A- (Excellent) A (Excellent) More than $20 billion of life insurance in force.

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17 Life Insurance It s About People Like You! Thank You For Your Time.