One way to prepare for the unexpected is to increase your options. Our Universal Life insurance products offer that versatility. Universal Life insurance helps provide a financial cushion for those you love if you were to die prematurely. But there’s more. You have the flexibility to increase your premium payments to build more cash value in your life insurance which you can borrow against for future planned or unexpected expenses.*
SecureLife Universal Life Form Series 1315 & 1211.
Certificates and riders are not available in all states. Contractual provisions and limitations may vary by state. Subject to reinsurance and underwriting requirements.
1 Cash accumulation is dependent upon premiums paid, interest credited, cost of insurance, and outstanding liens or loans. Certificate may terminate should account value not be sufficient to cover the cost of insurance. Overfunding a life insurance contract can result in a reclassification to a modified endowment contract and cause tax consequences. For details and an illustration regarding your personal situation, please contact your Royal Neighbors insurance agent. 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.
And because strong women build strong communities, you’ll find Royal Neighbors members throughout America’s cities and hometowns changing the world. This is not a new concept for us. Volunteering and the importance of neighbor-helping-neighbor have been Royal Neighbors’ vision since 1895. It’s part of our DNA.
If you’ve seen first-hand the challenges of fighting cancer, you know it impacts both health and finances. We want to help you keep your coverage when you need it most. Learn about Promise Plus, our Cancer Waiver of Premium Rider2.
2 Promise Plus (Form Series 2084) is only available in the following states: AZ, AR, CA, CO, DC, DE, FL, ID, IL, IN, IA, KY, ME, MI, MS, MO, NE, NV, NM, OH, OK, OR, RI, SD, TX, WV, WI, WY.
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).
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.
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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.
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