Futurity Protector II offers a number of benefits:
Adjustable Death Benefit - Provides immediate, federal income-tax-free funds to your family or business. This product offers the choice of several death benefit options, level or increasing, allowing you to select the one that best suits your needs. If your insurance needs change, you can change the death benefit option as well as increase or decrease the face amount.1
Additionally, your death benefit will continue as long as the insured is alive, even beyond age 100, provided the policy is still in force at that time.2 This may be an advantage over policies that mature at age 100; at that time, the cash surrender value is generally paid or you must request an extension of the maturity date.
Flexible Premium Payments - You determine the amount and timing of your premium payments, within certain limits, to reflect your current financial situation.
Professional Money Management - Choose from a variety of investment options, including a Fixed Account, depending on your investment risk tolerance. As your needs and market conditions change, you can transfer among these options without incurring taxes.3
Tax-Deferred Growth - Your account values grow and compound tax-deferred, a significant advantage over investments where earnings are taxed each year.
Access to Your Money - While the asset accumulation benefits of a policy are important today, equally important is the ability to access 4 the accumulated value when the need arises. You can access your money in two ways:
- Partial withdrawals are available after the first year. During years 2-10, you can withdraw up to 20% of the cash surrender value and 100% thereafter. Partial withdrawals can be made once per year. They are non-taxable up to the amount of premiums paid into the policy and no surrender charges are applied.
- Borrow up to 90% of the cash value, less any outstanding loans and unpaid interest, paying 4.00% annual loan interest in policy years 1-15 and 3.50% thereafter. Because 3.00%interest is credited on the loan amount, the net cost of borrowing is 1.00% in policy years 1-15 and .50% thereafter.
