|
Alabama
residents
have received
CA$HBACK checks
exceeding
$7,822,515.94
|
| Life
Insurance - Survivorship Life | (Form
USLIP)
| |
What
is it? | | |
Survivorship Life is a second-to-die life insurance
policy. (USLIP) Second-to-die coverage is for two persons (usually husband
and wife). The death benefit of a second-to-die policy is not payable until both
people covered by the policy die. Second-to-die coverage is used primarily
in estate planning. It protects children and other heirs from the burden of estate
taxes, which often become due and payable nine months after the date of the second
insured's death. Tax advisers and estate planners routinely recommend second-to-die
coverage as a way to pay estate taxes and other costs associated with settling
a large estate. | | | |
Interest sensitivity and cash value build-up |
| | | Premiums
paid into your Survivorship Life policy will earn interest at a competitive rate,
guaranteed never to be less than 3%. Your policy can develop available cash value,
which can be used by you for other purposes, if needed. | | |
| Premium
flexibility | | |
Subject to the initial minimum premium requirements
described in the policy, you can pay whatever premium you wish. Any premium you
pay over and above the minimum can result in an even larger build-up of the policy's
cash value, or enable you to reduce future premiums. |
| | |
Disability
of premium waiver | (Form
USLIPDW)
| | This rider to your Survivorship
Life policy can waive the policy's monthly deduction in the event of disability.
It can cover one or both insureds. (USLIPDW) | | |
| Coverage
flexibility | | |
| The amount of protection in your Survivorship Life policy can be increased
at any time, subject to the insurability of the two insureds. Additional premium
may or may not be necessary. A reduction in the policy's amount of coverage can
occur, once the policy develops a positive surrender value. Proceeds from
a life insurance policy paid because of death of the insured are generally excludable
from the beneficiary's gross income for tax purposes. | | |
| Riders |
| | Automatic
Increase Rider. Your estate is likely to grow in value. When it does, your
need for additional coverage will grow as well. By including the Automatic Increase
Rider with your policy, your coverage can automatically increase every year and
eventually grow to as much as twice the original amount of coverage. (Form
USAIR) Contemplation of Death Rider. Maybe your estate plans
are not complete, but you're in the process of finalizing them. This special optional
rider enables you to get the necessary coverage in place now, including
some important additional temporary protection. (Form USLIPCD) |
| | | Proceeds
from an insurance policy paid because of the death of an insured are generally
excludable from the beneficiary's gross income for tax purposes. (IRC Sec. 101(a)(1).) Income
and growth on accumulated cash values have been held by the Tax Court to be generally
taxable only upon withdrawal. (IRC Sec. 72.). Consult your tax adivser or attorney
on your specific situation. Policy
death proceeds can be arranged to be tax-free (IRC Sect. 2042) |
| | |
 
American National Insurance
Company, Galveston, TX
American National Property and Casualty Companies,
Springfield, MO
These brief descriptions of coverages available are
for illustrative purposes only, and are not intended as a statement
of contract. For actual terms and conditions of coverage provided,
refer to your insurance policy, or, for more information about coverage
options and availability, talk to your American National agent.
All products, coverages, and options are not available in all states,
and eligibility guidelines apply. American National Family of Companies
reserves the right to discontinue programs at any time.
This site may have links to other
sites, which are not maintained by American National Insurance Company,
it's subsidiaries or affiliates. Such links do not imply endorsement
or approval of these sites or the content therein by American National,
its subsidiaries or affiliates. |
| | |
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