30 pay life policy

Answer 1

Whole Life Insurance from American
Family Life Insurance Company helps to
provide long-term financial protection for
you and those who depend on you.
Policies designed for convenience
American Family Life offers policies that
allow premiums to be paid for in 10, 20 or
30 years:
● American Family 10-Year-Pay Whole
Life Insurance
● American Family 20-Year-Pay Whole
Life Insurance
● American Family 30-Year-Pay Whole
Life Insurance
Several payment options are available, so
you can choose the frequency of payments
you're comfortable with, whether it be
monthly, quarterly, semi-annual or annual
payments, or paying the full premium
amount at a discounted rate. The 10-Year-
Pay and 20-Year-Pay Whole Life policies
may be issued from ages 0-80 and the 30-
Year-Pay may be issued from ages 0-70.
Level death benefit
Whole Life insurance provides a level death
benefit to age 100. In addition, the total death
Permanence
Death Benefit
The amount stated
in the policy as
payable upon the
death of the
person whose life
is being insured.
benefit may be increased by policy dividends
that have been used to purchase paid-up
additions or that have been left to accumulate
at interest.
Dividends can increase policy values
American Family Life's Whole Life policies
are participating, meaning the life insurance
policy is eligible for the payment of dividends.
Dividends will be credited to the policy on its
anniversary. Dividends, while not guaranteed,
may increase the policy's cash surrender value
and death benefit, depending on the dividend
option selected.
Four dividend options are available:
Paid-Up Additional Life Insurance
Dividends, if declared, are used to purchase
paid-up additional life insurance. These paid-up
additions may increase the policy's cash
surrender value and are also eligible to earn
dividends if declared in future years.
Accumulate
with Interest
Dividends, if
declared, are
left with the
Company to
accumulate
with interest
at a rate set
by American
Family Life.
This option
may increase the total death benefit as well
as the total cash value.
Reduce Premiums
Dividends, if declared, may be used to reduce
the premium due. (This option is not available
when premiums are paid monthly.)
Cash
Dividends, if declared, are paid to the
policyowner by check from the Company.
Guaranteed level premiums
Whole Life insurance provides level premium
payments which are guaranteed; premiums will
never increase regardless of changes in health
or age.
Tax-deferred cash value growth
with guaranteed minimums
Whole Life insurance offers the potential for
long-term cash value growth which can be a
future source of funds. Cash values may be
borrowed through policy loans. Any policy loans
outstanding at death, plus any unpaid loan
interest, will be deducted from the death
benefit.
Distribution options for death proceeds
The beneficiary has several options for receiving
death benefit proceeds. The policyowner may
elect the method of payment during the
insured's life, or if no such election has been
made, the beneficiary may make the election at
the time of death.
Retained Asset Account
An interest-bearing account for proceeds, subject to
account balance minimums, where the beneficiary
has check-writing privileges and complete access to
and control of the funds in the account.
Dividends
The amount of
money returned
to the owner of the
participating policy
determined by past
experience of the
company in investment
earnings,
mortality and
expenses when
compared to the
pricing assumptions
of the policy.
Dividends are not
guaranteed and are
subject to change.
Cash Surrender
Value
The amount in
cash available
upon surrender, or
cashing in, of the
policy.
Paid-Up
Additional Life
Insurance
Insurance on
which all required
premiums have
been paid.
Longevity
Policy Loans
A loan made by
an insurer to a
policyowner that is
secured by part or
all of the cash value
of the policy.
Beneficiary
A person designated
by the policyowner
to receive the
proceeds of the
policy upon the
death of the insured.
Death Benefit
Proceeds
The amount
actually paid to the
beneficiary upon the
death of the insured.
Lump Sum
A single payment allowing greater ability to
meet immediate financial obligations.
Multiple Payment Options
Payments providing an income which can be
guaranteed to last for the beneficiary's entire
lifetime.
Nicotine and non-nicotine rates
American Family Life offers lower rates
for various premium classes.
Optional benefits...protection even if
you become disabled
Waiver of Premium Benefit Rider
By purchasing this optional coverage, your
premiums will be waived if the primary insured
becomes totally disabled for a period of six
consecutive months or more, begining after
age 5 and before age 60, as defined in the
rider.
Payer Death or Disability Waiver
of Premium Benefit Rider
If the policy insures a child 15 years of age
or younger when it is issued, an adult family
member who is paying premiums may also
be insured for Waiver of Premium by adding
this rider.
Solid Foundation
Strength
Optional benefits...more reasons
to choose Whole Life
Guaranteed Purchase Option
Benefit Rider
This rider guarantees the right to
purchase up to $50,000 of additional
permanent life insurance without
medical examination or proof of health
on the policy anniversary dates nearest
the date the primary insured reaches
attained ages of 25, 28, 31, 34, 37 and
40 years. Alternate option dates include
the events of marriage, childbirth or
adoption. Using an alternate option date
results in forfeiture of the next regularly
scheduled option date.
Children's Insurance Rider
This optional rider provides $10,000 of
coverage on natural, adopted and stepchildren
of the primary insured. The
premium is the same regardless of the
number of children. If a child is covered
under this rider, coverage ends at age 25.
If the child insured is between ages 18
and 25, he/she may convert the coverage
subject to a maximum of $50,000 of
permanent insurance.
If the primary insured dies while this rider
is in force, each child insured under this
rider will receive Paid-Up Term To Age 25
life insurance.
This brochure is for informational
purposes only and is not a part of any
policy contract. This is a brief summary
of some of the policy and rider features.
Additional terms and conditions may
apply. Specific and actual terms and
conditions are found only in the policy
or rider contract.
Accidental Death Benefit Rider
This optional coverage provides an
additional death benefit up to age 65 if
death occurs from an "accident" as defined
in the rider.
Accelerated Death Benefit Rider
This rider allows the policyowner to receive
up to 75% of the available death benefit to
a maximum of $250,000, should the
primary insured be diagnosed as
terminally ill with an anticipated life span
of twelve months* or less. This rider carries
no additional premium.
Automatic Premium Loan Benefit
This optional benefit will cover unpaid
premiums after the policy has accumulated
cash value. Under this option, American
Family Life will automatically make a loan
to cover the premium not paid by the last
day of the 31-day grace period.
Ask your agent
If you have questions or would like more
information about life insurance from
American Family Life, please call or visit
your local American Family agent.
* 24 months in IL, KS & WA
American Family Life Insurance Company
Home Office - Madison, WI 53783
amfam.com
Policy Form L-24(10)
Policy Form L-24(20)
Policy Form L-24(30)
ADL-12243-Rev. 7/07
© 2007
All your protection under one roof®
American Family Insurance offers a variety of insurance
products and financial services at competitive rates-plus
multiple line discounts may apply. Consider reviewing your
coverages and financial needs as your life circumstances
change:
• Improved your home or bought a new home?
• Purchased a new vehicle?
• Graduated from school?
• Changed your marital status?
• Welcomed a baby to your family?
• Have a new teenage driver in your family?
• Purchased or received something valuable?
- Jewelry
- Motorcycle, boat or snowmobile
- Computer
- Started or added to a collection (e.g., coins,
stamps, fine art, etc.)
• Started a new business or a new job?
• Thinking about retirement?
Have you reviewed your insurance coverages lately? If
not, contact your local agent for a no-obligation personal
insurance review.We'll review your current insurance for
costly duplications and gaps in coverage.