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 ages 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 premiums & adjustable death benefit1
- Designed to optimize cash value growth
- Issue ages 0-85
- $25,000 minimum policy face amount for ages 50+2
- $50,000 minimum policy face amount for ages 0-852
- Tax-deferred cash accumulation3
- Policy loans and withdrawals4
Optional Riders5
- Accelerated Benefit Rider
- Accidental Death Rider
- Disability Waiver of Premium Rider
- Fraternal Legacy Rider
- Guaranteed Purchase Option Rider
- Waiver of Monthly Deduction Rider
1Value4Life policy forms: ICC19-V4L, V4L-19, and V4L-19-FL.
2Minimum policy face amount also depends on underwriting class offered and accepted. Underwriting class is based on the health condition and risk factors of the insured and will vary. Life insurance premiums are based on the underwriting class and life expectancy of the insured. For more information, contact an agent or Catholic Order of Foresters' Home Office.
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.
5Accelerated Benefit Rider forms: ICC17-ABR, ABR17. Accidental Death Rider forms: ICC17-ADR-UL, ADR-UL17, ADR-UL17(CA), ADR-UL17(SD). Disability Waiver of Premium rider forms: DWP-UL10-CA, DWP-UL10-MO, DWP-UL10-NE, and DWP-UL10-SD. Fraternal Legacy Rider forms: ICC17-FLR-UL, FLR-UL17. Guaranteed Purchase Option forms: ICC17-GPO, GPO-UL17. Waiver of Monthly Deduction rider forms: ICC17-WMDR-UL, WMDR-UL17, WMDR-UL17(CA).
