SBLI USA Life Insurance Company, Inc.
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Life Insurance Product Information

Term Life Insurance

Term Life Insurance provides death benefit protection with a guaranteed level premium rate for a specified period of time – 1, 10, 15, or 20 years. As a rule, Term Life Insurance policies offer a death benefit with no savings element or cash value. The premiums you pay for Term Life Insurance are lower at the earlier ages as compared with the premiums you pay for Whole Life Insurance; however, if you choose to renew your term insurance at the end of the term, the premiums you pay will increase. Term Life Insurance policies may be "convertible" to Whole Life Insurance.

Product
(click for brochure)
Features Issue Ages Available Coverage Amounts
Simple Issue Term
  • Easy application process, no medical exam required - answers to a few health questions help us determine your eligibility*
  • Level premiums for the first 10 years, changing every 5 years thereafter
  • Convertible to Whole Life Insurance in the future
18 to 60 $25,000 to $350,000
Term Life
  • Affordable, level premiums for an initial period (10, 15, 20, or 30 years), after which premiums change every year
  • Convertible to Whole Life Insurance in the future

10 Year Term - 18 to 80
15 Year Term - 18 to 70
20 Year Term - 18 to 65
30 Year Term - 18 to 50

$100,000
and up

Income Continuation Term

 

SBLI USA PAYCHECK PROTECTOR®

 

  • Provides a predetermined monthly amount designed to help maintain your family’s current standard of living
  • Choose a guaranteed payout period of 2, 3, or 5 years, or to the insured’s age 70
  • For the 2, 3, and 5 year benefit  payout options, premiums are level for the first 10 years, then increase in 5 year increments to age 65, and then increase annually to age 70.  For the age to-age-70 payout option, premiums are expected to remain level to age 65 (and are guaranteed to remain level for the first 10 years), then increase annually to age 70.  
18 to 55 Available in Monthly Payout Amounts Between $500 and $20,000



* Acceptance based on answers to health questions and other information you provide or give us permission to obtain. Other product options may be available if ineligible for simplified issue products.

Note: Products not available in all states. Policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. We can provide you with costs and complete details.


Whole Life Insurance

Whole Life Insurance, also known as permanent life insurance, does just what the name implies – it provides protection for life. Whole Life Insurance also provides guaranteed level premiums, death benefits, and cash value. You remain covered as long as the premiums are paid when due.

Product
(click for brochure)
Features Issue Ages Available Coverage Amounts
SmartLife®
(Simplified Issue Whole Life
)
  • Provides permanent protection
  • Premiums are level for your lifetime
  • Builds tax-deferred cash value*
  • Easy application process with no medical exam – answers to the application questions help us determine your eligibility**
15 Days to Age 75 $10,000 to $150,000
Golden Promise®
  • Provides permanent protection
  • Premiums are level for your lifetime
  • Builds tax-deferred cash value*
  • Easy application process with no medical exam – answers to the application questions help us determine your eligibility**
  • Eligible customers qualify for the LEVEL, GRADED, or MODIFIED Plan depending on the answers to the application questions.***

     

LEVEL Plan - 50 to 80
GRADED Plan - 50 to 75
MODIFIED Plan - 50 to 75
$1,500 to $35,000
Whole Life
  • Provides permanent protection
  • Premiums are level for your lifetime
  • Builds tax-deferred cash value *
15 Days to Age 80 $50,000
and up

*Loans against the policy will reduce the cash value and death benefit by the sum owed.


** Acceptance based on answers to health questions and other information you provide or give us permission to obtain. Other product options may be available if ineligible for simplified issue products.

***For the Graded or Modified Plans, there is a reduced death benefit for the first two policy years for non-accidental death.


Note: Products not available in all states. Policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. We can provide you with costs and complete details.


Single Premium Universal Life

Single Premium Universal Life Insurance allows you to use a single premium to purchase a guaranteed amount of insurance, making your desire to leave a legacy for your family within reach.

Product
(click for brochure)
Features Issue Ages Available Coverage Amounts
Legacy SolutionSM
  • Easy application process with no medical exam - answers to application questions help determine your eligibility*
  • One premium payment, no extra bills to keep up with 
  • Insurance amount guaranteed for the life of the insured**
  • Cash value accumulates tax-deferred
  • Guaranteed minimum interest rate
  • Return of premium - you are guaranteed to receive no less than your single premium amount if you surrender your contract provided you have not taken a prior loan or partial withdrawal
  • Partial withdrawals and loans available*** 

50 to 75

(matures at age 95)

$15,000 to $250,000

 

* Acceptance based on answers to health questions and other information you provide or give us permission to obtain. Other product options may be available if ineligible for simplified issue products.

** Withdrawals will decrease the amount of insurance. The death benefit is reduced by any outstanding loan and is not available if the policy matures, is surrendered, or if indebtedness from policy loans exceeds the loan value. The death benefit paid in the event of suicide, within the first 2 policy years equals the premium paid less any loan balance and partial withdrawals.

*** Return of Premium benefit  will no longer be available upon the taking of a loan or partial withdrawal. Withdrawals and loans are subject to tax and if taken prior to age 59½ may be subject to 10% penalty. Not intended as tax advice. Please consult your tax advisor for possible tax consequences.

Note: Products not available in all states. Policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. We can provide you with costs and complete details.


Annuities

Annuities are designed to accumulate tax-deferred assets (accumulation phase) that can be converted to a source of lifetime annual income (payout phase). Annuities can be an important part of your retirement and tax planning strategies.

Product
(click for brochure)
Features Issue Ages Available Coverage Amounts
  • Lifetime guaranteed minimum interest rate
  • Tax deferred savings - under current federal tax law, you pay no taxes on your earnings until you draw on your annuity, which helps your money grow faster*
  • Avoid probate -should you die before receiving annuity payments, your named beneficiaries will receive the full contract value, with no withdrawal charges or market value adjustments (MVA)
  • Choose a 3, 5, or 7 year initial rate guarantee period
  • Subsequent rate renewal periods are 5 years
  • Access to your money - you have access to all or part of your accumulated annuity value at any time**

Product Options

  • Penalty Free Withdrawal (PFW) - after the first policy year the owner can withdraw up to 10 percent of the contract value annually without incurring withdrawal charges ***
  • Guaranteed Return of Premium (ROP) - you will receive at least your initial investment, less any previous withdrawals and premium taxes, should you surrender your policy

0 to 85

$5,000 and up

*Early withdrawals may be subject to regular income tax and, if taken before age 59 ½, may be subject to a 10% IRS penalty. Any discussion of taxes is for general information only based on our understanding and interpretation of the current tax laws. Please consult your legal or tax advisor as appropriate.

**Partial withdrawals are subject to certain minimums and maximums, and will incur a withdrawal charge and Market Value Adjustment (MVA) unless certain exceptions stated in the contract apply.

***Waiver of withdrawal charges is available for certain other circumstances. Ask your agent for details.

  Withdrawal Charge Schedule
  Policy Year
Initial Guarantee Period 1 2 3 4 5 6 7
3 Year 7% 6% 5%        
5 Year 7% 6% 5% 4% 3%    
7 Year 7% 6% 5% 4% 3% 2% 1%
Subsequent Years 1 2 3 4 5    
All Plans 5% 4% 3% 2% 1%    

 

Note: Products not available in all states. Policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. We can provide you with costs and complete details.


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