You've worked hard over the years to achieve a financially secure position. Now it's time to start thinking about enhancing the legacy you will leave to those you care about most.
One way to put your money to work is by reallocating funds that are not needed for other purposes to a Single Premium Whole Life policy from Illinois Mutual. Single Premium Whole Life offers several important benefits. These benefits include guaranteed lifetime insurance coverage with a single payment, an immediate increase in your estate upon policy issue, tax deferred cash accumulation under current tax laws, and the federal income tax free death benefit along with guaranteed cash value accumulation.
This tax deferred strategy can increase your estate value while guaranteeing protection for those who depend on you financially. A Single Premium Whole Life policy can help you achieve many financial objectives. You may have children or grandchildren for whom you would like to allocate a portion of your estate. Perhaps you want to make sure you do not leave any debt behind or maybe you have a special charitable association you would like to help financially.
Consider this example: Sue is a retired, 60-year-old grandmother of two. She has $100,000 she plans to leave to her grandchildren. However, if she uses that money to purchase a Single Premium Whole Life policy, she could leave her grandchildren one hundred ninety-five thousand seven hundred twenty dollars in death benefit. This illustration assumes Sue does not take out any policy loans, make withdrawals, or receive any accelerated death benefits. It also assumes that Sue is non-tobacco risk and in good health.
Get started today. Illinois Mutual has made the application process easier than ever. Ask about acquiring a Single Premium Whole Life policy to Illinois Mutual simplified issue underwriting process. Just another way we are working to make your experience fast, simple, and seamless.
Purchase of this policy may affect one's ability to qualify for governmental benefits, for example Supplemental Security income or Medicaid. Single Premium Life Insurance most likely will be a modified endowment contract or what we call a MEC. Prior to purchase of this policy, you should consider consulting a tax advisor or estate planning attorney.