1 Depending on age and product selection. Approval is also subject to underwriting. Approval is not guaranteed.
2 Loans will accrue interest. Loans and withdrawals may generate an income tax liability, reduce account value and the death benefit, and may cause the policy to lapse. The policy may be issued as a modified endowment contract (MEC) for tax purposes. Any withdrawals or surrenders could result in a taxable event. The cash value builds over 20 years. There are other considerations the client needs to understand before taking a loan or withdrawal. The client should consider what is best for his or her situation.
3 The ADBR rider is generally automatically included on a life insurance policy at no additional premium subject to underwriting and state availability. The cost of the rider is built into the life insurance premium, though if exercised, the lien created incurs interest unless repaid. The rider allows an advance to be paid against a portion of the death benefit in the form of a lien or loan against the policy provided the insured is diagnosed with a qualifying chronic or terminal illness. Rider terms vary by type of life insurance and state. The type of illness determines the maximum advance amount available. There are no restrictions on how the money from the ADBR can be used after payment. The ADBR is added at no additional premium (although a fee of up to $250 may be charged for an advance payment). Receipt of accelerated benefit payments may adversely affect the recipient’s eligibility for Medicaid or other government benefits or entitlements. They may also be considered taxable by the Internal Revenue Service. You should contact your personal tax advisor for assistance. However, this rider is not available on the graded death benefit product.
Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by The Western and Southern Life Insurance Company. Guarantees are based on the claims-paying ability of The Western and Southern Life Insurance Company. Products are backed by the full financial strength of The Western and Southern Life Insurance Company. Product and feature availability, as well as benefit provisions, vary by state. Easy Choice Life 20 and Easy Choice Life 100 policy series ICC21 2102-322 and Easy Choice Life 100 Graded Death Benefit policy series ICC21 2107-327 each have a maximum face amount of $49.999. If you don’t qualify for Easy Choice Life 20 or Easy Choice Life 100 due to underwriting requirements, you may qualify for Easy Choice Life 100 Graded Death Benefit or another product.
Western & Southern Life is the marketing name for The Western and Southern Life Insurance Company. The Western and Southern Life Insurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, MA and NY.
