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Whole Life Insurance

Whole Life Insurance

Lifetime Coverage with the Potential to Earn Dividends

American United Life Insurance Company®, a OneAmerica company, offers a range of whole life insurance products. Ask your financial professional about whole life insurance if you want:

  • Lifetime coverage — Whole life insurance is guaranteed to stay with you throughout your entire (or “whole”) life
  • Guaranteed cost — The premium you pay stays the same regardless of market conditions
  • Access to cash value — At any time, for any reason, you can access all or some of the policy’s accumulated cash value
  • Dividend-earning opportunities — When the issuing insurance company has positive year-to-year experiences, you could potentially earn non-guaranteed dividends

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Get Stability to Face Life's Surprises

When comparing whole life insurance to term or universal life insurance options, remember these specifics:

  • Coverage stays the same throughout your life, regardless of health changes, as long as your premium payments are current
  • The cost cannot increase, however, the cost initially is higher compared to term life insurance policies
  • Pay premiums in as little as five years or stretch them out over your lifetime for lower annual premium costs
  • Potential for cash value accumulation

What Is Most Important to You?

financial professional can help you develop an overall financial strategy. The companies of OneAmerica offer a variety of whole life insurance products to help meet your needs and financial goals. When selecting a whole life insurance product, you will decide what is most important to you: a higher cash value, a more limited-payment period or a lower annual premium. 

Consider making whole life insurance part of your financial strategy if you want to:

  • Provide for loved ones after you are gone
  • Cover the cost of your final arrangements
  • Protect your business interest in a key employee
  • Leave money to a charitable organization
  • Access to a portion of the death benefit if you encounter a chronic or terminal illness
  • Enhance other retirement assets or prepare for college
  • Lock in lower costs for a child in excellent health
  • Grow cash values tax deferred
  • Generally prevent your heirs from paying state and federal income taxes on death benefit proceeds

Make a Date for Regular Check-ups

Stay actively involved in preparations for your financial future. Whether you already have a policy or account with the companies of OneAmerica® or you want to learn more about our products and services, you can take action by managing your policy online or contacting a financial professional.

  • Realign your financial strategy to keep your goals within reach
  • Borrow against the cash value to pay for milestone moments
  • Change how you want to use your dividends
  • Use online tools to change your name and address, name a new beneficiary, change your dividend options or request a loan

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Notes:

Throughout this material, the term "life insurance" is used. Please know that this term implies:

  • The contract actually qualifies as life insurance according to Internal Revenue Code (IRC) Section 7702.
  • The contract is not a modified endowment contract, or MEC, as defined in IRC Section 7702A.
  • If it meets all of the requirements of Section 7702A, most of the distributions from your policy will be taxed on a first-in/first-out basis.
  • If you choose to take loans or partial withdrawals, the death benefit payable to your beneficiaries will be reduced and surrender charges may apply to partial withdrawals.
  • Loans are made at interest.
  • If the policy is a MEC, any distributions taken from the policy will generally be taxable – and subject to a 10 percent tax penalty if you're age 59½ or younger.

If a life insurance policy lapses with loans outstanding, any loan amount that represents gain in the policy becomes subject immediately to federal income tax at that time. An insured under age 59 ½ may be subject to an additional 10 percent tax penalty on any gain.

Dividends are not guaranteed. Guarantees are subject to the claims paying ability of the issuing insurance company.

Neither the companies of OneAmerica nor their representatives provide tax or legal advice. For answers to specific questions and before making any decisions, please consult a qualified attorney or tax advisor.

Life insurance is medically underwritten. All policies and riders may not be available in all states.

PROD-2d.1.1-IND

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