Permanent
Life Insurance
A well-conceived life insurance
program can be an ideal solution to your most important financial concerns. It
can offer the following important features:
-
A
tax-free death benefit, paid immediately to your beneficiary without passing through
probate.
-
A source of supplemental retirement
income
-
Tax-deferred accumulation of cash values
-
Accelerated death benefit. This benefit provides
a way to receive a portion of your death benefit prior to your death, if you become
terminally ill. (Form ACC91) (Not available in all states).
Tax Notes:
Proceeds from an insurance policy paid because of the death of the insured are
generally excludable from the beneficiary's gross income for tax purposes. (IRC
Sec. 101(a)(1).) Income and growth on accumulated cash values have been held by
the Tax Court to be generally taxable only upon withdrawal. (IRC Sec. 72.). Policy
loans from life insurance polices (assumes non-modified endowment contract) generally
are not treated as distributions or subject to income tax (IRC Sec. 7702). Consult
your tax adviser or attorney on your specific situation.
State
Specific Information: A two-year suicide provision is included in policies
(one year in Colorado and North Dakota). If a policyholder commits suicide during
the first two policy years, only a refund of premiums will be made. (Missouri
requires coverage for acts of suicide, unless it can be proven that the insured
intended suicide at the time the application was completed).
The
foregoing is neither a contract nor an offer to contract, but is a general description
of benefits available under a policy providing the benefits outlined. The exact
provisions, terms and conditions of the contract are set forth in detail in any
such policy as may be issued.
Financial
Objectives
Most people want to accomplish
one or more of these financial objectives:
-
Providing
for the ongoing living expenses of family members in the event of a breadwinner's
death
-
Making sure a child's dream of a college
education will come true
-
Making sure your home
is paid for and that you and your family get to live there for as long as you
want
-
Money at retirement to do the things you've
always wanted to do
Goals
We
believe an ideal financial strategy should:
- Be self completing
- Allow
you to make flexible payments over the years
- Grow steadily and dependably
at a competitive rate of interest, comparable to or better than certificates of
deposit
- Grow tax-deferred
- Minimize the amount of taxes you pay
and maximize the dollars that stay in your pocket and the pockets of your family
members.
American National Insurance
Company, Galveston, TX
American National Property and Casualty Company,
Springfield, MO
These
brief descriptions of coverages available are for illustrative purposes
only, and are not intended as a statement of contract. For actual terms
and conditions of coverage provided, refer to your insurance policy,
or, for more information about coverage options and availability, talk
to your American National agent. All products, coverages, and options
are not available in all states, and eligibility guidelines apply. American
National Family of Companies reserves the right to discontinue programs
at any time.
This
site may have links to other sites, which are not maintained by American
National Insurance Company, it's subsidiaries or affiliates. Such links
do not imply endorsement or approval of these sites or the content therein
by American National, its subsidiaries or affiliates.
