Universal Life Insurance in Alderson, West Virginia

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Universal Life Insurance

 In Alderson, West Virginia

In Alderson, West Virginia

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WHAT IS UNIVERSAL LIFE INSURANCE IN Alderson?

Universal life insurance offers lifelong protection with the unique flexibility to adjust your coverage and premium amounts. The policy's cash value accumulates tax deferred and can be used for any purpose to meet your financial goals.
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Product features and benefits in Alderson: in Alderson, West Virginia

Universal life insurance is a valuable option for individuals who need lifelong coverage, cash value accumulation and flexibility. Enjoy the advantages of guaranteed minimum interest rates and cash value that can be accessed via loans or withdrawals. Flexibility in premium payments and death benefit values help give you control as your needs change.
Coverage amounts as low as $30,000 with the ability to increase or decrease death benefit
Available up to age 85 with lifetime protection
Death benefits are generally tax-free to your named beneficiaries and avoid the delays and expenses of probate, in most cases
Access to the policy’s long-term cash value through loans or withdrawals
Guaranteed minimum interest rates with interest rate enhancement in policy years 16+
Flexible premium payments with a 15-year no-lapse guarantee

Cash value benefits of universal life insurance in Alderson, West Virginia

Knowing you have options to access your policy’s cash value is important. With Bankers Life universal life insurance policies, money is always there when you need it.
Policy loans
The policy’s cash surrender value may be borrowed against at any time, allowing for peace of mind in the event of an emergency.
Preferred loans
After the 10th policy year, you are eligible to receive a preferred loan, calculated as a percentage of your policy’s cash surrender value on a zero-spread interest basis.¹ This means the amount of loan interest charged (3%) is exactly equal to the guaranteed minimum interest credited to the loaned portion of the account value.²
Partial withdrawals
After the first policy year, you may take one annual, free partial withdrawal of up to 10% of the total accumulation value with no surrender charges.³ If you withdraw more than 10% of the accumulation value, the charge applies to the amount that exceeds 10%. If you make more than one partial withdrawal in a policy year, the charge applies to the amount of second and later withdrawals.

¹ Withdrawals and loans will lower a policy's account value and death benefits, may have tax implications, and may cause the policy to terminate. Surrender charges will apply to withdrawals in early years, subject to a free partial withdrawal feature. Each individual should seek specific advice from their own tax or legal advisors.
² Indexed Universal Life Insurance (Clearvantage® IUL) has a 1% loan interest charge. TurningPoint Fixed Interest Universal Life (TurningPoint FIUL) has a 3% loan interest charge.
³ This policy also has surrender charges during the first 15 policy years.

Universal life insurance products: in Alderson, West Virginia

Fixed interest universal life insurance - TurningPoint® FIUL Flexible
Long-term protection that builds cash value at a guaranteed minimum interest rate of 3%

Indexed universal life insurance - Clearvantage® IUL Flexible
Long-term protection that builds cash value at a guaranteed minimum interest rate of 1%, by participating in the market's gains, but not in its losses

TermWholeUniversal LifeIndexed Universal Life

Coverage Type

Temporary
Permanent
Permanent
Permanent
Tax advantages
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Death benefit
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Cash value accumulation
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Cash value access¹
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Adjustable death benefit & flexible premium
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S&P 500-linked growth potential
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¹Any outstanding loans or indebtedness at time of death will be deducted from the death benefit.

How do I know if I’m eligible? Alderson, West Virginia

  1. The first step in getting universal life insurance coverage is completing an application.
  2. Next, our underwriters will review your medical history to determine if your application is acceptable, and to identify your risk classification.
  3. You may need to complete a medical exam.
  4. Your premium amount will be determined by the amount of insurance coverage you request, plus your age, gender and risk classification.

Learn how you can prepare for long-term care needs in Alderson, West Virginia

Find out how Bankers Life long-term care insurance can offer you or a loved one the flexibility and independence you deserve.
Policies are underwritten by Bankers Life and Casualty Company, except policies issued in New York, which are underwritten by Bankers Conseco Life Insurance Company.

Customize your policy with optional riders* in Alderson, West Virginia

*Riders may be subject to underwriting and availability and will increase premium payments. Talk to an agent for complete description and rules of each rider, including limitations and exclusions. Riders may vary by state.

Learn more about your options—speak to an agent
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About Bankers Life in Alderson, West Virginia
Bankers Life in Alderson, West Virginia is here to help you build a plan that provides security and peace of mind. With Medicare Supplement insurance, life insurance, long-term care insurance, supplemental health insurance and annuities, we can help you plan for medical expenses, protect your life savings, provide for your loved ones and more. Visit us at our Alderson, West Virginia, or contact us at (888) 525-8019. Get a quote today!
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