Looking out for the well-being of future generations or favorite causes can be a powerful motivation. And turning hard-earned assets into an even larger tax-free amount can be a powerful force. A universal life insurance policy such as Legacy Forward® II can be used for transferring assets to others. Provided an applicant qualifies for coverage, life insurance instantly leverages a premium into a larger, income-tax-free death benefit.
Legacy Forward II Single Premium Universal Life (SPUL)
If you have assets intended for gifting to others, look to Legacy Forward II. Legacy Forward II is a single premium universal life insurance policy that instantly leverages a single payment (minimum $10,000) into a larger, income-tax-free death benefit. You must qualify for coverage with a simple application and a few health questions. Policy decisions are delivered in just five minutes with electronic underwriting. You maintain control of your assets with the ability to take partial surrenders or loans from your policy should you need emergency funds.
Return of premium guarantee
Chronic and terminal illness conditions1
Available to ages 18-80
Policy and benefit provisions vary in some states2
Issuer(s): Western-Southern Life Assurance Company, National Integrity Life Insurance Company
Leaving a Legacy
You work hard. You save diligently for years. Naturally, you want to make sure your legacy carries forward to loved ones or a favorite charity.
Leaving a Legacy Video
You've worked hard for your money. Perhaps you'd like to leave a legacy with it to your children, grandchildren
or even your church or a charity.
Well, here's a test if you could which would you rather pass on to others, $100,000 or $179,549?
It's not a trick question. Most would like to leave more if they could.
Well, there's a product that can turn $100,000 dollars into more than $179,549 and it passes federal income tax-free.
This is just one example, but you can increase the amount of your legacy benefit guaranteed in just a few, easy steps.
How? Well, it's actually a life insurance policy called Legacy Forward® II. We designed it specifically for tax efficient asset transfer needs like yours.
Your beneficiary receives the money in the form of the policy's guaranteed death benefit. And there are benefits for you if you need them.
Legacy Forward II allows access to your money if you suffer a chronic or terminal illness.
While we know you want to leave your legacy, we also realize you may need some, or all, of this money.
If you become chronically ill, you access up to 100% of your premium and possibly still have remaining death benefit to leave to your loved ones.
And you can access from 60% to 90% of the policy's death benefit if you're diagnosed with a terminal illness.
Plus, it all comes with a 100% money-back guarantee.
That's extra peace of mind for you. So if you'd like to see if you can leave a larger legacy, see your bank representative today.
It takes less than five minutes to find out if Legacy Forward II is a good fit for your legacy gifting plans.
1Accelerated Death Benefit Rider—Chronic illness benefit available for issue ages 55-80. Chronic illness means the insured has been unable to perform without substantial assistance, at least two of the six Activities of Daily Living (bathing, dressing, toileting, continence, transferring and eating) for a period of at least 90 consecutive days due to a loss of functional capacity, or requires substantial supervision to protect themselves from threats to health and safety due to severe cognitive impairment. In CT, the insured also must have been confined for at least six months.
2Policies underwritten by Western-Southern Life Assurance Company, Cincinnati, OH, or National Integrity Life Insurance Company, Greenwich, NY.Western & Southern Life operates in DC and all states except AK, ME, NH, NY, and RI. National Integrity operates in ME, NH, NY, and RI. NAIC numbers 92622 & 75264. W&S Financial Group Distributors, Inc. is an affiliated agency of the issuer. The issuer has sole financial responsibility for its products. All are members of Western & Southern Financial Group.
Legacy Forward II product and feature availability varies by state. Policy series ICC12 1301-3030 WSA, 1301-3030 WSA, ICC12 1301-3030 NIL and 1301-3030 NIL NY and rider series ICC12 1301-305 WSA, 1301-305 WSA, ICC12 1301-305 NIL, 1301-305 NIL NY, ICC12 1301-2626 WSA, 1301-2626 WSA, ICC12 1301-2626 NIL, ICC10 1010-2622 WSA, 1010-2622 WSA, ICC11 1010-2622 NIL and 1010-2622 NIL NY.
Policy and premium charges will be deducted as described in the policy. This policy is a Modified Endowment Contract (MEC) for tax purposes. Distributions are taxable to the extent that there is gain in the contract. A 10% penalty applies for distributions prior to age 59½ with certain exceptions such as partial surrenders and unpaid loans will reduce the death benefit, and may have tax consequences.
Western & Southern Financial Group member companies and their agents do not offer tax advice. For specific tax information, contact your attorney or tax advisor.
W&S Financial Group Distributors is an affiliated agency of the issuer. Issuer has sole responsibility for its products. Products may not be available in all states. For complete coverage information and product availability, contact your financial representative.
NOTE: Product availability may vary by distribution channel and state availability. Please consult your financial professional for the products they represent.
No bank guarantee. Not a deposit. May lose value. Not FDIC/NCUA insured. Not insured by any federal government agency.
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