1 As long as premiums are paid
2 Loans will accrue interest. Loans and withdrawals may generate an income tax liability, reduce account value and the death benefit, and may cause the policy to lapse. The policy may be issued as a modified endowment contract (MEC) for tax purposes. Any withdrawals or surrenders could result in a taxable event. Keep in mind that cash values may take years to accumulate, unless a large premium is paid up front.
3 Dividends are not guaranteed and may change at any time.
Whole Life Insurance Policy Series ICC21 2103-110 issued by The Western and Southern Life Insurance Company. Accelerated Death Benefit Plus rider series ICC19 1903-621 and Accelerated Death Benefit rider series 1308-620, Accidental Death Benefit Rider9401-540, Children’s Term Life Insurance Rider 1103-675, Owner Waiver of Premium Rider ICC19 1903-700, Waiver of Premium Rider ICC19 1903-581 issued by The Western and Southern Life Insurance Company, Cincinnati, Ohio, which operates in DC and all states except AK, ME, MA, and NY.
The ADBR rider is generally automatically included on a life insurance policy at no additional premium subject to underwriting and state availability. The cost of the rider is built into the life insurance premium, though if exercised, the lien created incurs interest unless repaid. The rider allows an advance to be paid against a portion of the death benefit in the form of a lien or loan against the policy provided the insured is diagnosed with a qualifying chronic or terminal illness. Rider terms vary by type of life insurance and state. The type of illness determines the maximum advance amount available. There are no restrictions on how the money from the ADBR can be used after payment. The ADBR is added at no additional premium (although a fee of up to $250 may be charged for an advance payment). Receipt of accelerated benefit payments may adversely affect the recipient's eligibility for Medicaid or other government benefits or entitlements. They may also be considered taxable by the Internal Revenue Service. You should contact your personal tax advisor for assistance.
These policies and benefits may not be available in all states, and benefits may vary by state.
Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.
Life insurance policies contain certain exclusions, limitations, reductions of benefits and terms for keeping them in force. Please contact a financial representative for complete details.
Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value.
