Our Guaranteed Issue Program is based on the applicant meeting all the eligibility requirements, and does not guarantee that a policy will be issued.

Guarantees are based on the claims-paying ability of the issuing insurance company.

Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, Index Segment Charge, and Surrender Charge (which we refer to as expense charges). These charges may increase over time, and these policies may contain restrictions, such as surrender periods. Policyholders could lose money in these products.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit. 

The life insurance death benefit is income tax free to the business if the business, at the time of purchase, had met the requirements of Internal Revenue Code Section 101(j) including providing the insured with advance notice, obtaining the insured's prior consent to be insured, and meeting insured's executive income requirements.

Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. You should consult your tax advisor when considering taking a policy loan or withdrawal.

The Policy Design chosen may impact the tax status of the policy. If too much premium is paid, the policy could become a modified endowment contract (MEC). Distributions from a MEC may be taxable and if the taxpayer is under the age of 59 ½ may also be subject to an additional 10% penalty tax.

Clients should consult their tax or legal advisor regarding their own tax or legal situation.