Intuitions® Single Premium Whole Life Insurance (ICC21 M21-3000 SPWL)
Powerful estate-planning tool specifically designed to help you maximize your legacy
Intuitions Single Premium Whole Life Insurance, when purchased on your own life can help you increase the amount of money you leave to your heirs, while also allowing you to maintain control during your lifetime. When purchased for a loved one, it can provide life-long insurance protection for them without the burden of additional premium payments.
One single premium payment purchases permanent life insurance protection that accumulates a guaranteed, tax-deferred cash value as long as the coverage remains in force. Single Premium Whole Life Insurance may be right for you if you:
- Have a lump sum that you do not anticipate needing during your lifetime;
- Want your beneficiaries to receive a tax-free inheritance without the hassle and expense of probate;
- Want to immediately increase the amount you can pass on to your heirs and guarantee the amount will never decrease;
- Want to leave a legacy to support your favorite charitable organizations;
- Want to provide life-long protection for a loved one without the burden of further premium payments.
Built In Benefits
- Coverage is fully paid up - for life: Your one-time premium payment provides you with lifelong life insurance protection with no surprises. Guaranteed!
- Issue ages 0-85
Minimum Single Premium:
Age 0 - 30 $1,500
Age 31 - 55 $3,000
Age 56 - 70 $5,000
Age 71 - 85 $7,000
- Guaranteed cash value accumulation: Tax-deferred growth without exposure to stock market risk or fluctuation.
- Access to your cash value: Borrow from your accumulated cash value if you need to in the event of unforeseen circumstances.
- Death benefits paid tax free to beneficiaries: Life insurance proceeds generally pass to beneficiaries free of probate costs, legal fees, local inheritance tax, and federal income tax. Provide financial support for your loved ones when they need it most, or transfer wealth and provide financial security for future generations.
- Dividend potential: Non-taxable return of premium which can enhance policy values and flexibility.
- Choice of settlement options: Design a plan for payment of the death benefit to your beneficiaries to fit your goals.
- Exclusive Benefits of Membership: Non-contractual Benefits of Membership for the insured currently include member discount programs, good health benefits, accidental death fraternal benefit, scholarship opportunities, and local chapter involvement to make a difference in your community.
Optional Rider to Customize Your Plan
- Accelerated Death Benefit Rider (Living Benefit): Gives you the option to receive up to 50% of your death benefit (not to exceed $100,000) if you are diagnosed with a terminal illness with 12 months or less to live. This rider is available at any issue age and at no additional cost to you.
Trust your intuition. Trust Woman’s Life.®
For more information, request a free, no obligation needs analysis with a Woman’s Life representative.
Make the Connection: As a community life insurer, Woman’s Life provides the financial protection you expect with the added benefit of helping those in need. When you plan ahead to protect your family’s financial security, you also help support scholarships, soup kitchens, charitable events, and more. Through our Chapter Financial Support Programs, we support communities to help neighbors, friends, and families. Click here to learn about the Communities and Causes supported by active Woman’s Life Chapters.
This Single Premium Whole Life plan and rider are not available in all states. Like most insurance products, this plan and rider contain exclusions, limitations, or reductions of benefits, termination provisions, and terms under which the certificate may be continued in force or discontinued. Riders are subject to limits with regard to issue and benefit age, duration, and amount. Contact Woman’s Life Insurance Society or your Woman’s Life Representative for information about costs and complete details. The purchase of Intuitions Single Premium Whole Life Insurance or the purchase of a rider is subject to proof of insurability and underwriting. Dividends are not guaranteed. Certificate loans will reduce cash value and death benefit. Loans are subject to an 8% per annum interest charge, which if not paid is added to the loan debt. The certificate will terminate if the loan debt equals or exceeds the cash value. Eligibility for fraternal benefits is determined by the board of directors and benefits of membership may be amended or discontinued by action of the board of directors. Intuitions Single Premium Whole Life Insurance is not FDIC insured, nor is it insured by any other agency of the United States. It is not a bank deposit. It is not guaranteed by a bank or any bank affiliate. It may lose value. Guarantees are backed by the financial strength and claims-paying ability of Woman’s Life Insurance Society.
Modified Endowment Contract: The Intuitions Single Premium Whole Life Insurance policy is a modified endowment contract (MEC). Growth in cash value is tax-deferred, but as a MEC, if there is any gain in the policy, the portion of the gain included in any distribution from the policy prior to death, including loans, may be taxable and must be reported as taxable income. Also, if a distribution occurs prior to age 59 ½, the distribution may be subject to a tax penalty. Therefore, it is important that a Single Premium Whole Life Insurance be purchased with assets that will likely not be needed for personal use in the future.