Aiming to capitalize on a growing demand for whole life insurance, The Western and Southern Life Insurance Company (Western & Southern Life) has introduced Simple Choice Whole Life. This whole life insurance product with optional paid-up additions riders provides protection for loved ones while building cash value.
Consumers work hard to provide a good life for their families, and they want that good life to persist even when a loved one passes away.
According to LIMRA, whole life products have enjoyed 10 consecutive years of growth, and the first quarter of 2016 continued that trend.1
"Consumers work hard to provide a good life for their families, and they want that good life to persist even when a loved one passes away," said Troy Brodie, president of W&S Agency Group, Western & Southern Life's career agent sales force. "Simple Choice may help them enjoy peace of mind knowing their family is protected, with the added benefit of accessing cash value when they need it."
Simple Choice Whole Life includes paid-up additions riders that provide additional life insurance coverage with cash value. The cash value may be accessed for any reason through either a policy loan2 or partial surrender. Riders come in two choices, annual premium or single premium, with a minimum annual premium of $120 and a death benefit that grows as rider premiums are paid.
Other features of Simple Choice whole life include:
- Fixed premiums payable in three ways: for 20 years, to age 65 or to age 100.
- A dividend3 that may be paid out once a year.
- A living benefit rider that provides the flexibility to access, under certain conditions, a portion of the policy's death benefit before the insured dies.4
"Western & Southern Life has added Simple Choice to its line-up of two other whole life products, providing a variety of choices to suit each client's budget and personal needs," Brodie said. "And when financial needs arise, like the family car needs to be replaced or college tuition needs to be paid, the paid-up additions riders may be able to help."
For more information about Simple Choice, Western & Southern Life and its product offerings, call (877) 452-4594 or visit www.westernsouthern.com/wslife.
1 Individual Life Insurance Premium Increases in the First Quarter 2016, LIMRA, 2016
2 Loans, interest on loans and withdrawals will reduce the death benefit if not repaid.
3 Dividends are not guaranteed and may change at any time.
4 An advance is treated as a lien secured by the death benefit of the policy. The advance will accrue interest each year. The lien may be increased, if necessary, to keep the policy in effect. We recommend you contact your tax advisor when making decisions about electing to receive benefits from any accelerated benefit product, as the owner may incur a tax obligation.
The Western and Southern Life Insurance Company operates in DC and all states, except AK, CT, ME, MA, NH, NY, and VT. Cincinnati, OH.
Whole Life Insurance Policy series ICC16 1606-110 and ICC16 1606-322, Annual Premium Paid-Up Additions Rider (APUAR) series ICC16 1606-750, and Single Premium Paid-Up Additions Rider (SPUAR) series ICC16 1606-751 issued by The Western and Southern Life Insurance Company.
These policies, riders, and benefits may not be available in all states and benefits may vary by state.
About Western & Southern Life
The Western and Southern Life Insurance Company, and its wholly owned subsidiary Western-Southern Life Assurance Company (both known as Western & Southern Life), are members of Western & Southern Financial Group (Western & Southern) and offer life insurance, interest-sensitive life insurance, fixed annuities, retirement strategies and personalized needs analysis for individuals, families and businesses in the middle-income market. It serves customers through 148 field offices nationwide, plus www.westernsouthern.com/wslife and a call center known as the Client Relationship Center at the company's headquarters in Cincinnati. The company is a 2016 Top 100 Military Friendly® Employer and Military Friendly® Spouse Employer. For financial tools, career opportunities and product information, visit www.westernsouthern.com/wslife.
About Western & Southern Financial Group
Founded in Cincinnati in 1888 as The Western and Southern Life Insurance Company, Western & Southern Financial Group, Inc. (Western & Southern), a Fortune 500 company, is now the parent company of a group of diversified financial services businesses. Its assets owned ($47.2 billion) and managed ($22.3 billion) total $69.5 billion as of Sept 30, 2017. Western & Southern is one of the strongest life insurance groups in the world. Its six life insurance subsidiaries (The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, The Lafayette Life Insurance Company and National Integrity Life Insurance Company) maintain very strong financial ratings and a Comdex Ranking of 96. Other member companies include Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.¹ IFS Financial Services, Inc.; Peppertree Partners LLC¹; Touchstone Advisors, Inc.¹; Touchstone Securities, Inc.²; W&S Brokerage Services, Inc.²; and W&S Financial Group Distributors, Inc. For more information on the Western & Southern family of companies, visit www.westernsouthern.com. Western & Southern is the title sponsor of the Western & Southern Open (www.wsopen.com), a premier event in the U.S. Open Series played each August by the world's top-ranked professional male and female tennis players.
* Lafayette Life has a 97 Comdex Ranking.
1 A registered investment advisor.
2 A registered broker-dealer and member FINRA/SIPC.
For current ratings, please visit www.westernsouthern.com/about/financial-information/financial-ratings.