10 Pay Life 2022 Whole Life Insurance
Lafayette Life’s 10 Pay Life 2022 Whole Life Policy is designed for people who are looking for limited level premiums with cash value growth and permanent death benefit protection. You pay 10 level annual premiums, but the death benefit is guaranteed for your lifetime. This can be an effective way to make sure your premiums end by retirement age.
Whole life insurance offers a combination of guaranteed death benefit protection, guaranteed cash value accumulation and guaranteed level premiums. Our 10 Pay Life Whole Life Insurance policy comes with many benefits and features:
Guaranteed Level Premiums
The policy is designed to be paid up after 10 level annual premium payments.
Guaranteed Lifetime Coverage
As long as premiums are paid and policy loans do not exceed the total cash value, your coverage cannot be terminated.1
Tax-Deferred Cash Value Accumulation
Your policy is designed to build cash value each year on a tax-deferred basis.2 Your accumulated cash value can be accessed through policy loans3 and withdrawals to help fund a major purchase, supplement your retirement income or simply provide in times of need.
Your 10 Pay Life 2022 Whole Life policy may earn a dividend.4
Provided at no additional premium, flexibility to access a portion of the death benefit should you be faced with a specified medical condition, terminal illness or a chronic illness.5,6
Whole Life Insurance Tailored to Fit Your Needs
Your 10 Pay Life 2022 Whole Life Insurance policy can be tailored to meet your specific financial needs by several supplemental riders that can be added to your policy to help address your individual needs. You could have the option to increase the death benefit and cash value by paying an additional premium or options for the receipt of any dividends declared. Keep in mind that adding a rider to your policy may require additional premium.
What You Need to Know About 10 Pay Life 2022 Whole Life Insurance
Review our product brochure to get a more in-depth look at 10 Pay Life 2022 Whole Life Insurance.
You and Lafayette Life could be a winning combination together. Whether you are ready to become a Financial Representative or would like to learn more about working with Lafayette Life, we are eager to hear from you.
1 Subject to the terms of the policy, including payment of the required premiums, suicide exclusion, contestable provision and loan provision. 2 Tax free assumes the policy is not a Modified Endowment Contract, the withdrawals do not exceed cost basis, and the policy does not lapse. 3 Loans will accrue interest. Loans and withdrawals may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse. 4 Dividends are not guaranteed and may be changed by the company at any time. 5 Rider provisions, availability, definitions and benefits may vary by state. 6 Provided through the Accelerated Death Benefit PLUS Rider (ICC16 LLR-08 1601). Certain medical histories may prevent qualification for the Accelerated Death Benefit PLUS Rider. Insureds who do not qualify for this rider will receive the Accelerated Death Benefit Rider (ICC16 LLR-07 1601). Payment of Accelerated Death Benefits, if not repaid, will reduce the Death Benefit and affect the other policy values.
Life insurance policy guarantees are subject to the timely payment of premiums. Loans, withdrawals and advances will reduce the death benefit and cash surrender value and may cause the policy to lapse. The lapse or surrender of a policy with an outstanding loan may result in taxable income.
Life insurance products are issued and guaranteed by the Lafayette Life Insurance Company. Guarantees are based on the claims-paying ability of the company. The Lafayette Life Insurance Company is a member of Western & Southern Financial Group, Inc.
10 Pay Life 2022 Whole Life Insurance Policy series ICC21 LL-01 2104, rider series ICC16 LLR-07 1601 and ICC16 LLR-08 1601 are issued by The Lafayette Life Insurance Company. Chronic Illness underwriting guidelines will be used to determine eligibility for our various Accelerated Death Benefit Riders. Product approval and rider features and benefits may vary and may not be available in all states. The Lafayette Life Insurance Company does not provide legal or tax advice. Please contact your tax or legal advisor regarding your situation.
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