The Single Premium Universal Life Plan*

Single Premium Universal Life (SPUL) is a universal life product with an initial single premium. Provided the initial single premium is paid and no loans, partial surrenders, or policy changes are made, the initial specified amount is guaranteed to remain in force for the life of the insured.

The Single Premium Universal life insurance plan can help consumers meet a variety of financial objectives. These objectives may include the traditional death benefit coverage, advanced estate planning, insuring a key employee, or a business continuation plan. Flexible components, tax-free death benefits, tax-favored policy distributions, and many other features make this plan an excellent choice for a variety of different needs. For tax issues, please check with your tax professional. 

Details of these policies are easily accessible and include an annual report to the owner. Annual reports illustrate the change in the value of the policy by showing the premiums paid, policy expenses and fees, mortality charges, partial surrenders and loans taken out, and interest credited to the policy.

Special Benefits of the Single Premium Plan :

An Additional Insurance Amount: (AIA) benefit may be elected at issue to increase the death benefit (minimum issue age is 20 for the AIA benefit).

Bonus Provision: There is a bonus available with the intent to reward persistency.   This bonus is based on company practice and is not guaranteed; it may vary by state.

* This information is given to assist persons in understanding the nature of this product type in general terms, and it must not be considered as a binding contract or a copy of the policy in any way.  An issued life insurance contract (policy) that you have purchased from a life insurance company must be viewed as the only contract reflecting your policy, and it must be reviewed for its limitations and benefits between you and the life insurance company. Policy provisions may vary by state and may not be available in your state. Contact us for availability and a review of this plan of security for those you love. The above mentioned life policy is underwritten by Kansas City Life Insurance Company.

E-mail dphelps@phelpsfinancial.com

Phone  (614) 899-6000  and toll free (877) 471-7997 for MI,OH, KY, WI, & IN

06/02/2005