Information entered and displayed in this calculator will not be retained or shared. Your email address is used to deliver the calculator worksheet PDF when requested, and will not be collected, retained, shared or otherwise used by Western & Southern Financial Group, Inc.
This calculator stores a self-help tool and is not intended to provide financial advice or product recommendations. The calculations on this page provide an estimated life insurance death benefit and hypothetical taxable and tax deferred account values are for illustrative purposes only, and are not guarantees of future results. Review the information in this calculator with your financial professional and consult your attorney and tax advisor regarding your universal financial situation. Western & Southern member companies and it’s agents do not offer legal or tax advice.
Eligibility for Legacy Forward® II and its guaranteed death benefit of is subject to underwriting.
Various financial products may have different purposes, benefits, terms and conditions. When comparing types of accounts available for transferring assets, it is important to consider your accessibility to the account value for personal needs. Legacy Forward II is designed for asset transfer, with the primary purpose of providing a guaranteed death benefit to the policy owner’s named beneficiary(ies) at the insured’s death. The policy owner has access to the policy’s cash value while the insured is still living, and withdrawals may be subject to a surrender charge. Partial withdrawals and policy loans will reduce the cash value and death benefit. Additional restrictions, tax penalties and conditions may apply.
Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by the issuing company. Guarantees are based on the claims-paying ability of the insurer. Products are backed by the full financial strength of the issuer.
Legacy Forward II is a single premium universal life insurance policy issued and guaranteed by Western Southern Life Assurance Company, Cincinnati, OH, operating in DC and all states except NY, where National Integrity Life Insurance Company, White Plains, NY, operates. Single premium universal life insurance policy series ICC12 1301-3030 WSA, ICC12 1301-3030 NIL and 1301-3030 NIL NY. Product and feature availability varies by state. The policy may be issued as a Modified Endowment Contract (MEC) for tax purposes.
About Modified Endowment Contracts: 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.
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. Issuer has sole financial responsibility for its products. All are members of Western & Southern Financial Group. Product and feature availability varies by state.
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.
