Looking out for the well-being of a future generation or favorite cause can be a powerful motivation. And turning hard-earned assets into an even larger tax-free amount can be a powerful force. Asset transfer life insurance serves such a purpose. Provided an applicant qualifies for coverage, a life insurance policy instantly leverages a single payment 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 5 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 Video
You work hard and save diligently for years. So, you want to make sure your assets will carry your legacy forward to loved ones or a favorite charity.
Leaving a Legacy Video
Hi, Chris Collinsworth here.
You know when football players strive to make an impact on the game and leave a legacy. Well, it's like that in life too. You work hard and save diligently for years. So, you want to make sure your assets will carry your legacy forward to loved ones or a favorite charity.
Did you know there's a life insurance strategy that can help? Not only can it help ensure your assets will pass your legacy forward, but it can help increase them as well.
Just one single premium payment can instantly increase the assets you pass on, and you can pass on those assets federal income tax free, and do it all without the problems of probate.
Look, even though its life insurance, the application is simple. There are no medical tests, only a few health questions, and takes only about five minutes.
Learn more from your financial representative. They can coach you on the benefits of a strategy like this, and help you leave an important legacy.
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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