SINGLE PREMIUM WHOLE LIFE
 PLAN
DESCRIPTION
A level death benefit, one time single premium, participating, cash
value whole life policy.
POLICY SIZE-BANDING
Minimum policy size is $5,000 with no premium bands:
ISSUE AGE
Ages 0 to 75, as of last birthday.
PREMIUMS
A one time single payment of premium is required to issue this policy.
Therefore, no further premium is required. The policy is contractually
paid up.
POLICY FEE
$75.00 added to the one time single premium.
PREMIUM CLASS
Substandard premiums are offered by the Home Office when appropriate
for the risk.
NO PREMIUM MODE FACTORS OR BENEFITS ARE AVAILABLE
The Single Premium Whole Life policy meets the definition of a Modified
Endowment Contract (MEC) under the current federal tax law (1988 TAMRA
Laws). Distributions during the life of the insured are taxable as ordinary
income to the extent there is a gain. Also, if the policyholder is less
than 59-1/2 years old at the time of the distribution, an additional
10% tax is due the IRS to the extent there is gain in the policy.
If you would like to speak to someone personally, you can call 1-800-392-2202
to find the agent(s) in your area of Texas.
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