Universal Life
Universal Life insurance is permanent life insurance that offers flexibility and customization based on your financial goals. Under the policy’s terms, premium paid above the current cost of insurance (COI) is credited to the policy's cash value. Each month, the cash value is credited with interest, and the policy is debited by a COI charge, in addition to policy charges and fees which are drawn from the cash value (even if no premium is paid that month). Catholic Order of Foresters determines the interest credited to the account, but there is a contractual minimum rate. Withdrawals and loans will reduce the death benefit and may have tax implications. Consult a tax adviser regarding your particular situation.
Universal Life Products
Secure4Life™
Features
- Single premium UL with guaranteed cash value1
- Issue age 50-85
- $10,000 minimum premium
- Tax-deferred cash accumulation2
- Guaranteed 4% interest3
- No surrender fees
- Policy loans and withdrawals4
Optional Riders
- Accelerated Death Benefit Rider
- Fraternal Legacy Rider
1The face amount for a given premium will be determined such that the guaranteed cash value on the policy anniversary on or following the insured's 100th birthday is equal to the face amount. As a result, the policy is guaranteed to remain in force during the insured's lifetime unless the amount of outstanding policy debt equals or exceeds the cash value.
2COF nor its agents provide tax advice; consult a tax professional regarding your specific situation.
3The interest rate is subject to change at any time, but it is guaranteed never to be below 4.00% through the policy anniversary on or following the insured's 100th birthday and 1.50% thereafter.
4Policy loans or withdrawals reduce the death benefit and cash accumulation and could also reduce coverage duration.
Value4Life™
Features
- Flexible premium adjustable UL with guaranteed coverage for the guaranteed no-lapse period1
- Issue ages 22 - 85
- $25,000 minimum policy face amount for age 50+2
- $50,000 minimum policy face amount for age 22-492
- Tax-deferred cash accumulation3
- Policy loans and withdrawals4
Optional Riders
- Accelerated Benefit Rider
- Accidental Death Rider
- Disability Waiver of Premium Rider
- Fraternal Legacy Rider
- Guaranteed Purchase Option Rider
- Waiver of Monthly Deduction Rider
1The policy and all attached riders are guaranteed to stay in force for the duration of the guaranteed no-lapse premium period or while the riders are in effect provided that the sum of the premiums paid to date, less any indebtedness, less any partial surrenders, equals or exceeds the accumulated guaranteed no-lapse monthly premium from the policy issue date through the current month. If such premiums due have not been paid, the no-lapse monthly premium will be considered to be in arrears and the policy could terminate per the grace period provision of the policy.
2Minimum policy face amount also depends on underwriting class offered and accepted.
3COF nor its agents provide tax advice; consult a tax professional regarding your specific situation.
4Policy loans or withdrawals reduce the death benefit and cash accumulation and could also reduce coverage duration.
Legacy4Life™
Features
- Flexible premium adjustable UL with guaranteed coverage for the guaranteed no-lapse period1
- Issue ages 0 - 21
- $50,000 minimum policy face amount
- Tax-deferred cash accumulation2
- Policy loans and withdrawals3
Optional Riders
- Accelerated Benefit Rider
- Accidental Death Rider
- Fraternal Legacy Rider
- Guaranteed Purchase Option Rider
- Waiver of Monthly Deduction Rider
1The policy and all attached riders are guaranteed to stay in force for the duration of the guaranteed no-lapse premium period or while the riders are in effect provided that the sum of the premiums paid to date, less any indebtedness, less any partial surrenders, equals or exceeds the accumulated guaranteed no-lapse monthly premium from the policy issue date through the current month. If such premiums due have not been paid, the no-lapse monthly premium will be considered to be in arrears and the policy could terminate per the grace period provision of the policy.
2COF nor its agents provide tax advice; consult a tax professional regarding your specific situation.
3Policy loans or withdrawals reduce the death benefit and cash accumulation and could also reduce coverage duration.
