The Western and Southern Life Insurance Company (Western & Southern Life) has introduced Easy Choice Life. This simplified issue whole life insurance product does not require a medical exam or blood tests.
“Consumers seeking coverage to help their family pay for final expenses and more may find Easy Choice to be the right choice,” said Troy Brodie, senior vice president of Western & Southern Life and president of W&S Agency Group, Western & Southern Life’s career agent sales force. “Easy Choice may help them enjoy peace of mind that their loved ones are protected, with the added benefit of a quick and easy application process.”
The application process for Easy Choice Life entails answering a few health questions. Once approved, coverage begins immediately. An instant, personalized quote could also be provided before applying, with two coverage plans to choose from.
Other features of Easy Choice Life include:
• Premiums payable for 20 years or to age 100.
• Up to $49,999 death benefit coverage.1
• Policy cash values that can be accessed through a policy loan.2
• Accelerated Death Benefit Rider included with no additional premium.3
“Western & Southern Life has added Easy Choice to its line-up of three other whole life products,” Brodie said. “Together they provide a variety of choices to suit each client’s budget and personal needs.”
For more information about Easy Choice Life, Western & Southern Life and its product offerings, call (877) 452-4594 or visit www.wslife.com.
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 of life insurance 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.
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. 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.