An
insurance and related financial planning tool
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Life insurance is a tax-favored insurance and related financial
planning tool that addresses two of the most serious financial risks
you face: the risk of dying too soon and the risk of living too
long. In either case, life insurance can provide the right amount
of money at just the right time, whether it's furnishing the cash
and income your family will need after your death or supplementing
your own retirement income while you are still living.
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Tax-free
death benefit |
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No other product will provide such a large, instant cash windfall,
income-tax free*, at the very time it is needed most.
*Tax-free
death benefits - Proceeds from an insurance policy paid because
of death of the insured are generally excludable form the beneficiary's
gross income for tax purposes (IRC Sec. 101(a)(1).) Consult your
tax advisor or attorney on your specific situation.
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Benefit
is paid directly and immediately |
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Your beneficiary will receive the policy proceeds without the inconvenience
of passing through the probate process.
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Choice
of coverages |
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If your protection needs are temporary, you may prefer the low
initial cost of term insurance. For protection needs that are permanent,
however you will want to consider a permanent form of life insurance.
You can even choose a combination of permanent and term protection.
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Tax-deferred
accumulation** |
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Earnings inside a permanent life insurance policy will accumulate
free of current income tax. Taxes are deferred until you receive
policy cash values exceeding the money you paid into the policy.
**Tax-Deferred
Growth-Income - Income and growth on accumulated cash values has
been held by the Tax Court to be generally taxable upon withdrawal.
(T.H. Cohen, 39 TC 1055 (1963), acq. 1964-1 CB 4 also, IRS. Sec.
72.) Consult your tax advisor or attorney on your specific situation.
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Guaranteed
premiums |
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I can offer you a participating whole life product that offers
you permanent life insurance protection with a guaranteed lifelong
premium that can never increase. (Form PWL96)
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Liquidity
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Permanent life insurance allows you to obtain money from the policy's
available cash value to meet emergencies or anticipated needs. The
money may be received as a policy loan, which is not taxable.
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Guaranteed
level premiums with guaranteed values |
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The premiums on a permanent whole life policy are guaranteed never
to increase. As long as the policy remains in force, you know exactly
what the policy's guaranteed minimum cash values will be. If you
qualify, riders may be added to your
policy with additional premiums. (Not all riders
may be added to all policies.)
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A two-year
suicide provision is included in policies (one year in Colorado
and North Dakota). If a policyholder commits suicide during the
first two policy years, only a refund of premiums will be made (Missouri
requires coverage for acts of suicide, unless it can be proved that
the insured intended suicide at the time the application was completed).
The foregoing
is neither a contract nor an offer to contract, but is a general
description of benefits available under a policy providing the benefits
outlined. The exact provisions, terms and conditions of the contract
are set forth in detail in any such policy as may be issued.
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American National
Insurance Company, Galveston, TX
American National Property and Casualty Companies, Springfield,
MO
Products
and services not available in all states
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