Whole Life Product

Whole Life

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Good for Your Whole Life

The main purpose of life insurance is to protect your family’s financial future after you’re gone.  Whole Life insures you for your lifetime and provides a death benefit your loved ones can use for things such as making rent or mortgage payments, funding college, paying off debts, and much more.

Enjoy Simple, Permanent Financial Protection

Whole Life insurance offers lifetime coverage with fixed premiums and the ability to accumulate cash value. This cash value builds at a guaranteed rate and can be used as a loan for future needs.*

Whole Life insurance from Royal Neighbors may be a good coverage option for you if:

  • You want coverage for your entire life.
  • You would like $25,000 or more in coverage.
  • You are interested in accumulating cash value that grows at a guaranteed rate.

Essential Whole Life Form Series 1314

Certificates and riders are not available in all states. Contractual provisions and limitations may vary by state. Subject to reinsurance and underwriting requirements.

*Like any loan, interest will be charged. An outstanding loan will reduce the death benefit if not repaid in full or the cash value if the certificate is surrendered for cash. Additionally, an outstanding loan could potentially terminate the certificate if the principal plus accrued interest equals or exceeds the cash value of the certificate. Tax penalties may apply.

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Underwriting Process Explained

Underwriting Process

 

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Customized Options for Your Coverage

Riders are features you can add to customize your coverage based on your individual needs. These riders may add to the cost of your insurance. Click on the rider options below to learn more about each of the available riders.

How Can I Customize this Product for my Needs?

What is a Rider? A rider is purchased separately from the base policy and provides additional benefits at additional cost.

Whole Life RIDERS

Accelerated Benefit

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Are you interested in having the option to access funds from your life insurance coverage if you were to become seriously ill? If you are diagnosed with a qualifying illness as defined by the rider, our Accelerated Benefit riders allow access to a portion of the death benefit while still living. Though it is not a savings account, this rider can help provide a back-up plan for major expenses.

Accelerated Death Benefit Riders (Forms 1591-CR, 1591-CH, and 1591-T) available in all licensed states except CA. Accelerated Living Benefit Rider (Form 1766) available in CA only.

See Rider Information

Accidental Death

More Info

Provide your family additional financial protection if you were to die due to an accident. The Accidental Death rider provides an additional death benefit of at least $25,000 in the event the death of the insured is caused by an accident prior to her or his 65th birthday.

See Rider Information

Child

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Nobody wants to think about a child dying, but do you have money to cover burial expenses or maybe help pay other expenses? The Child rider provides a $5,000 death benefit for each child of the insured. If the insured dies while this Child rider is in force, the insurance on each child will continue as long as the child meets the definition of an insured child.

See Rider Information

Flexible Premium Deferred Annuity

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Flexible Premium Deferred Annuity Rider Is retirement on your mind? If the Flexible Premium Deferred Annuity rider is added when applying for life insurance, an annuity is issued. This annuity offers a convenient way to save for retirement on a tax-deferred basis.

See Rider Information

Disability Waiver

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Protect your life insurance coverage in the event you become disabled in the future. If the Disability Waiver rider is added when applying for life insurance coverage, Royal Neighbors will waive the premium payments in the event the insured is totally disabled (as defined by the rider) prior to her or his 60th birthday.

See Rider Information

Cancer Waiver

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Do you have a family history of certain cancers? Our Cancer Waiver rider waives two years of premiums or monthly deductions if the insured is diagnosed with Stage II or greater cervical, ovarian, or breast cancer prior to turning 60 years old. This rider helps to minimize the concern of making life insurance payments during this period so the insured can focus energy on what’s really important – getting well and spending time with loved ones.

See Rider Information

Guaranteed Insurability

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Nobody knows what the future looks like, but you can guarantee the option to add to your insurance coverage when you get there. Purchasing the Guaranteed Insurability rider guarantees the insured has the right to purchase $25,000 of additional life insurance at specified future ages or life events without a new physical exam.

See Rider Information

What Solutions Are Right For Me?

These scenarios best describe my financial concerns (select all that apply):
Select a choice
Please Select An Option
Form #: P00007-1; Rev. 9-2016 

What Solutions Are Right For Me?

About me and my responsibilites:
Please Select An Option
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My Age
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My Partner's Age
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Please Select An Option
Please Select An Option
Form #: P00007-2; Rev. 9-2016 

What Solutions Are Right For Me?

My Choices:
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Form #: P00007-3; Rev. 9-2016 

How Much Coverage Do I Need?

More about me and my finances:
Please Select An Option
Insurance Types:
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Monthly/Annual Retirement Income: this includes Pension & Annuities.
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Please Select An Option
partners_annual_income_icon
Please Select An Option
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Amount of Other Debts
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My Assets
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Included 401K, IRA, and any other Investments
Form #: P00007-4; Rev. 9-2016 

How Much Coverage Do I Need?

My children and their education:
Please Select An Option
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Oldest Child

years old.
Please Select An Option
More Child Options
More Child Options
Form #: P00007-5; Rev. 9-2016 

How Much Coverage Do I Need?

More about me:
Please Select An Option
Form #: P00007-6; Rev. 9-2016 

My Coverage Choices

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My current resources are: N/A
Includes estimated potential Social Security benefits
My recommended coverage is: N/A
My coverage gap is: N/A
How did we figure this out?
I am most concerned about:See My Concerns
    Riders are features you can add to customize your coverage based on your individual needs. These riders may add to the cost of your insurance. Click on the rider options below to learn more about each of the available riders.

    what riders ARE offerED WITH MY COVERAGE OPTIONS?

    Accidental Death Benefit

    More Info

    Accidental Death Benefit

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    Accidental Death Benefit

    More Info

    Accidental Death Benefit

    More Info

    Accidental Death Benefit

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    Accidental Death Benefit

    More Info

    Cancer Waiver Rider

    Our Cancer Waiver rider allows the insured to waive two years of premiums or monthly deductions if diagnosed with Stage II or greater cervical, ovarian, or breast cancer prior to turning 60 years old. This rider eliminates the concern of making life insurance payments during this period so the insured can focus energy on what’s really important – getting well and spending time with loved ones.
    Form series 2084
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    Form #: P00007-7; Rev. 9-2016 

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    Do you or someone in your household (select all that apply):

    Form #: P00007-8; Rev. 9-2016 

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    Opportunities to save money, volunteer, and more!
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    Vision discounts

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    Benefits you MAY BE interested in:

    Form #: P00007-9; Rev. 9-2016 
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    Form #: P00013; Rev. 6-2016
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    Pop-up Glossary

    Life-Insurance

    a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

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    MY INSURANCE CALCULATIONS

    The calculations contained within this calculator are specific to Royal Neighbors of America. It is intended to estimate an amount of life insurance coverage if death occurred in the near future. It is not a recommendation for specific coverage amounts. Your financial needs may differ from the estimates. Royal Neighbors does not guarantee that the amount illustrated here will meet your financial needs. You are responsible for selecting the appropriate amount of coverage. To evaluate your specific needs, please contact Royal Neighbors directly at (866) 845-6665.

    Needs
    • Immediate Needs N/A
    • Mortgage Amount: N/A
      Other Debts: N/A
      Funeral Expenses:N/A
    • Long-term Needs N/A
    • College Costs: N/A
      Total Income:N/A
    • Total Needs N/A
    Resources
    • Immediate Resources N/A
    • Investment Assets N/A
      Life Insurance Proceeds N/A
    • Long-term Resources N/A
    • Partner's Earnings N/A
      Social Security N/A
    • Total Resources N/A
     
    Additional Life Insurance Needed
    • Your total needs minus your total resources means you need N/A

    Income Replacement Estimate

    This chart estimates how much life insurance your loved ones may need to replace your income and maintain their current standard of living. Your dependents may be eligible to collect Social Security income benefits, which are included in the calculation below. The “Insurance Needed” column does not include financial needs such as paying off debt or paying for college.
    Year Partner Age Partner Income S.S. Income Available Income Desired Income Surplus/Shortfall Available Resources Insurance Needed

    Calculations include your answers to the previous questions, in addition to the following: 3% investment return; 2.6% anticipated inflation rate; $8,500 for funeral expenses which is based on the national median cost for an adult funeral in 2014 according to the National Funeral Directors Association1; 75% of your annual combined income for desired annual income needs; and 15 years for the number of years’ income needed or the calculation of the number of years it will take your youngest child to complete higher education, whichever is greater. Social Security benefits were factored based on the age of your youngest children (up to 4). Immediate needs include your mortgage, other debts, and $8,500 for funeral expenses.

    College cost estimates are based on the following parameters (based on data provided by [College Board] . The inflation rate for college costs (5.48% annually) is based on the Bureau of Labor and Statistics Consumer Pricing Index average from January 1996-June 2016. This rate will factor into college cost assumptions for future years, adjusted annually.

    • Amount for community college: 2 years @ $3,435/year (tuition and fees only)
    • Amount for public university: 4 years @ $19,548/year (tuition, fees, room and board)
    • Amount for private university: 4 years @ $43,921/year (tuition, fees, room and board)

    1 “The national median cost of a funeral with viewing and burial for calendar year 2014 was $7,181. If a vault is included, something that is typically required by a cemetery, the median cost is $8,508. The cost does not take into account cemetery, monument or marker costs or miscellaneous cash-advance charges, such as for flowers or an obituary.” http://www.nfda.org/news/statistics

     
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