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AG Secure Lifetime GUL II Insurance
AG Secure Lifetime GUL II
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Case Study
AG Secure Lifetime GUL II - Protection with Optionality and AG Asset Protector
AG Secure Lifetime GUL® II guaranteed universal life insurance combines long-term financial security with the flexibility to adapt to changing needs. Now including Optionality® – a unique package providing you with life insurance that offers long-term protection and maximum flexibility. You select the coverage amount, the duration of the death benefit guarantee, and how long you want to pay premiums. You can build guaranteed cash value that can be accessed through future withdrawals.1
AG Asset ProtectorSM, available on AG Secure Lifetime GUL II policies, provides a unique package of living benefits that allow access to death benefits while living. The AG Asset Protector product suite includes two life insurance riders: the Accelerated Access SolutionSM which allows income tax free access to death benefits if diagnosed with a chronic illness, plus the Lifestyle Income SolutionSM which allows access to your death benefit for any reason after age 85.
AG Secure Lifetime GUL II is an ideal life insurance solution if you:
Benefits of AG Secure Lifetime GUL II
AG Secure Lifetime GUL II provides long-term guarantees to protect your policy from lapse. Unlike other products of its kind, it can also build substantial long-term guaranteed cash value, and to adapt to future needs by allowing policyowners the choice to:
• Choice of coverage amount, duration of death
benefit, with length of time you pay premiums
based on individual needs¹,²
• Guaranteed cash value, independent of
interest-rate fluctuations
• Opportunity to build cash value, accessible by
withdrawal³
1 Guarantees are subject to the claims-paying ability of the issuing insurance company.
2 Subject to the policy’s terms and conditions.
3 Partial withdrawals or loans will reduce the death benefit and cash value and could reduce the duration of coverage. Partial withdrawals may be taxed as regular earnings. Policy owners should consult a tax advisor to determine if a transaction is a taxable event.
Optionality in action
AG Secure Lifetime GUL® II provides life insurance with lasting guarantees and protection. Unlike other products of its kind, it can also build substantial long-term guaranteed cash value, and the ability to use your policy to meet your changing needs. Optionality® features allow you to:
Accelerated Access Solution
SM
AG Asset Protector Living Benefits Rider Package Includes:
1 IRS caps the maximum daily rate each year. The 2014 maximum per diem is $330/day or $9,900/month. Subsequent years may be higher.
2 Insured must be certified as chronically ill by a licensed physician and meet all eligibility requirements.
3 90 consecutive days must expire before the Insured becomes eligible for Accelerated Benefit payments. See outline of coverage for details.
Lifestyle Income Solution
Couple planning their dream home
Problem: Matt and Ginger are in their 50s. They are paying for both their current residence and some property on which they are planning to build a retirement home. If Matt dies, he wants to ensure that Ginger is able to manage expenses. The couple also want to make sure their income will last throughout their retirement.
Matt and Ginger’s solution1
- Matt purchases a $500,000 policy with an annual premium of $8,8162 to his planned retirement at age 68, naming
Ginger as the beneficiary.
- When Matt reaches retirement, and ceases to pay premiums, his policy’s guaranteed death benefit continues to age
100.
Optionality® in action
1 The case studies presented are not actual and are for illustrative purposes only.
2 Quoted values based on male, issue age 53, Preferred Plus, $500,000 level death benefit guaranteed to age 100. Quote dated 9/24/12 for the state of Texas.
3 Withdrawals under the Lifestyle Income Solution must begin on a policy anniversary. Certain payment and other conditions must be met for such withdrawals to be available at that time, including, but not limited to, that Matt pay enough premiums so that, at age 85, no further payments will be necessary for the policy to continue to his age 100.
Parents protecting a special needs child
Problem: Eric and Cindy Parker are in their 40s, and have a 7-year-old autistic daughter, Taylor. Because it’s a commitment that may last beyond their lifetime, they need a long-term solution that covers their need for security along with Taylor’s need for care after their death.
Eric and Cindy’s solution1
- Eric purchases a $1,000,000 policy with an annual premium of $7,312 to his age 121
- Cindy purchases a $250,000 policy with an annual premium of $1,275 to her age 121
- The Parkers establish a trust for the benefit of Taylor, in the event that both parents die prematurely
Optionality® in action
1 The case studies presented are not actual and are for illustrative purposes only.
2 Quoted values based on male, issue age 45, Preferred Non-Tobacco, $1,000,000 level death benefit guaranteed until age
121. Quote dated 09/23/13 for the State of Texas.
3 Quoted values based on female, issue age 42, Preferred Plus, $250,000 level death benefit guaranteed until age 121.
Quote dated 09/23/13 for the State of Texas
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