CINCINNATI – Jan. 28, 2013 – W&S Financial Group Distributors, Inc., wholesale distributor of annuities and life insurance for Western & Southern Financial Group (Western & Southern) based in Cincinnati, today announced the introduction of Legacy Forward II — a single premium universal life insurance policy.
“Designed to meet the needs of the underserved middle and moderately affluent markets, Legacy Forward II combines chronic and terminal illness benefits with the income-tax-free death benefit of life insurance,” said Mark E. Caner, AEP, ChFC, CLU, CFP®, president of W&S Financial Group Distributors. “It represents a guaranteed method for transferring assets tax-free to a named beneficiary such as a family member or a charity.”
For assets intended to be passed to beneficiaries, Legacy Forward II leverages one premium payment to create a larger guaranteed death benefit. For example, in the case of a 63-year-old female nontobacco user, a $50,000 single premium provides an immediate and guaranteed death benefit of $102,500.1
Legacy Forward II is issued and guaranteed by Western-Southern Life Assurance Company, Cincinnati, Ohio, or National Integrity Life Insurance Company, Goshen, New York, both members of Western & Southern. Western & Southern is one of the eight highest-rated life insurance groups in the world, based on its Standard & Poor’s AA+ “Very Strong” financial-strength rating (current as of Jan. 1, 2013 and subject to change). And it ranks in the top 10 for life insurance sales through banks (per BISRA Life Report, through Sept. 30, 2012).
Features of Legacy Forward II include:
- A minimum required premium of $10,000.
- A guaranteed death benefit.
- An Accelerated Death Benefit rider that enables the policyowner to take an advance on the death benefit, in case of chronic or terminal illness.2
- A simple application and underwriting decision within five minutes.
- A 100 percent guaranteed return of premium (net of partial surrenders) if the policy is surrendered.3
- Issue ages of 18-80, enabling a parent or grandparent to establish life insurance coverage for a young adult at favorable younger ages. In addition to providing death benefit protection, the policy’s cash value can be accessed by loans or partial surrenders for the policyowner’s future financial needs.
Legacy Forward II replaces Legacy Forward – a single premium, interest-sensitive whole life insurance policy – and like it is available through financial institutions that market Western & Southern products.
1 Value is current as of 12/7/12 and is subject to change.
2 Benefits may vary and may not be available in all states.
3 Taking a policy loan voids the return of premium guarantee.
W&S Financial Group Distributors, Inc. distributes fixed, variable and immediate annuities and life insurance products from Western-Southern Life Assurance Company, The Western and Southern Life Insurance Company, Integrity Life Insurance Company and National Integrity Life Insurance Company, all member companies of Western & Southern Financial Group, Inc. Variable products are distributed through Touchstone Securities, Inc.* Marketing through a national network of broker-dealers, financial advisors, independent agents and financial institutions, W&S Financial Group Distributors assists financial professionals in helping individuals invest for, live in and manage risk during retirement.
*A registered broker-dealer and member FINRA/SIPC.
2 A registered investment advisor.
3 A registered broker-dealer and member FINRA/SIPC.
