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Orlean
residents
have received
CA$HBACK checks
thru February 2004
totaling
$1,389,902.88
...and still counting!
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| What
Kind of Life Insurance? |
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There are two basic types of life insurance: term and
permanent. Each should be considered carefully to determine
which best fits your individual needs.
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Advantages
of Term
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Advantages
of Permanent |
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Lower cost protection in early
years
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Customized for coverage to last
for a specific number of years
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The option to exchange the policy
for permanent coverage without having to show
evidence of good health
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Lower cost in later years
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Permanent protection
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Level premiums
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Accumulation of cash for emergencies, college education,
retirement supplement
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Tax-deferred wealth accumulation
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Tax-free income distribution
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Flexibility
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Coverage without paying premiums by using various
options
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Disadvantages
of Term
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Disadvantages
of Permanent |
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Higher cost protection in later
years
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Increasing premiums
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No equity or cash value savings
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Failure to pay premiums ends
coverage
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Higher initial cost
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Future dividends and current interest rates not
guaranteed
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Tax Notes:
Proceeds from an insurance policy paid because of the death of the
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 adivsor or
attorney on your specific situation.
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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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