You’ve spent a lifetime saving — now let us help you pass on your estate with Legacy Life. This single-premium product provides an inheritance for your loved ones or a financial gift for a charity close to your heart — all with tax-deferred growth — guaranteeing a brighter future for your beneficiaries.
Legacy Life provides permanent life insurance now and the ability to use the guaranteed insurability option (GIO) to purchase subsequent single-premium whole life certificates without proving your insurability. That means you can build a legacy from existing accounts (traditional savings, CDs, annuities or money market accounts) to pass on one day. For instance, you could use a maturing CD to purchase additional coverage one year. In another year, you could purchase added coverage using funds from an annuity that is out of its surrender charge period. Even more, each new certificate can have a different beneficiary. For example, you could use one certificate to leave an inheritance for a child or grandchild and another as a gift to a charitable organization.
Once you purchase Legacy Life, you can begin building additional coverage at any time. You don’t have to purchase additional coverage every year, but you will need to purchase additional coverage at least every 36 months or you will lose the ability to purchase more life insurance. You can purchase additional coverage once per year with a maximum of 15 additions.
Product Features:
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Issue ages: 50-64
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Minimum face amount: $10,000
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Maximum face amount at issue:
- Ages 50-60: $125,000
- Ages 61-64: $50,000
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Purchase additional coverage: ages 50-65
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Minimum face amount for additional certificates: $2,500
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Maximum total coverage: $250,000 (ages 50-60), $100,000 (ages 61-64)
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Dividend options:
- Paid-up additions
- Paid in cash
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Guaranteed Insurability Option: Allows you to purchase additional single-premium whole life certificates from ages 50-65 without underwriting