Whole Life Product

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. Good for your Whole Life.
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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.

*Loans taken against a certificate can have adverse effects if not managed properly. An outstanding loan could potentially terminate the certificate if the principal, plus accrued interest equals or exceeds the cash value of the certificate. Outstanding loan balances will be charged interest at the rate stated in the certificate. Accrued interest on the loan is payable at the end of each certificate year. Certificate loans, including any accrued interest, must be repaid in cash or from the certificate values upon termination of the certificate or the death of the insured. Repayment of loans from certificate values (other than death proceeds) can potentially trigger a tax liability. Certificate owners should consult with their tax advisor about the potential impact of any loan.

Underwriting Process Explained

Underwriting Process

Together we can make a difference. 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.

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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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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.

  • 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
  • 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

Contact Royal Neighbors

Contact Royal Neighbors

Insuring Lives, Suporting Women, Serving Communinites
Form #: P00013; Rev. 1-2018