Policy available in all states except ME, NH, NY and RI.
1Withdrawals may be subject to charges, withdrawals of taxable amounts are subject to ordinary income tax, and, if taken before age 59½, (may be subject to a 10% IRS penalty) and loans (e.g., interest is charged on loans, they may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse. Keep in mind that cash value may take years to accumulate unless a large premium is paid up front.
2Accelerated Death Benefit not available in CA or to issue ages 81-85. Payment of Accelerated Death Benefits. if not repaid, will reduce the Death Benefit and affect the available loan and other policy values. Terminal illness means diagnosis of less than 12-month life expectancy. 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.
3Product and feature availability varies by state. Single Premium Interest Sensitive Individual Whole Life Policy series 1010-3030 and 1010-3030 CA, and Accelerated Death Benefit Rider series 1010-2622 WSA, Return of Premium Rider series 1010-305 WSA issued by Western-Southern Life Assurance Company, Cincinnati, OH. W&S Financial Group Distributors, Inc. (doing business in CA as W&S Financial Insurance Services) is an affiliated life insurance agency of the issuer. The issuer has sole financial responsibility for its products. Both are members of Western & Southern Financial Group, Inc.
Policy and premium charges will be deducted as described in the policy. The policy may be issued as a Modified Endowment Contract (MEC) for tax purposes. Any withdrawals or surrenders could result in a taxable event. 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. In order for policies funded by an exchange to be issued as a non-MEC, the entire single premium must be in the form of a 1035 Exchange and the existing policy must not be a MEC.
Neither Western & Southern Financial Group, Inc. nor its member companies provide legal or tax advice. The information provided is general and educational in nature and should not be relied upon as legal or tax advice. Tax laws are complex and subject to change. No guarantees, representations or warranties are made regarding the accuracy or completeness of this information, and no liability is assumed for its use. Clients are advised to consult an attorney or tax professional regarding their specific situation.
Products may not be available in all states. For complete coverage information and product availability, contact your financial representative.
No bank guarantee. Not a deposit. May lose value. Not FDIC/NCUA insured. Not insured by any federal government agency.
