Universal Life (UL) insurance is a type of permanent life insurance that offers flexibility and customization based on your financial goals. Under the policy’s terms, excess premium that is paid above the current cost of insurance (COI) is credited to the cash value of the policy. Each month the cash value is credited with interest, and the policy is debited each month by a COI charge, as well as any other policy charges and fees which are drawn from the cash value, even if no premium payment is made for that month. Interest credited to the account is determined by COF, but has a contractual minimum rate. Withdrawals and loans will reduce the death benefit and may have tax implications. Consult a tax advisor regarding your particular situation.
This description is brief and does not constitute, in itself, a contract. Like most life insurance policies, COF UL policy terms and conditions may contain certain exclusions, limitations, exceptions, reductions of benefits, waiting periods and terms for keeping the contract in force. Please contact a COF representative for costs and complete details. Guarantees apply to certain life insurance and annuity products and are subject to product terms, exclusions and limitations and the insurer's claims-paying ability and financial strength. Some products are not available in all states and the District of Columbia. Universal life insurance issued by Catholic Order of Foresters.
UL 10 3/2011
More about Universal Life
- Secure4Life™
- Secure4Life™ SP
- Value4Life™
- Legacy4Life™
Secure4Life™
Features1
- Flexible premium adjustable UL with guaranteed coverage for guaranteed lifetime no-lapse period2
- Issue ages 0 - 85
- $25,000 minimum policy amount
- Tax-deferred cash accumulation3Guaranteed lifetime lapse protection2
Benefits
- Policy Loans and Withdrawals3
- Fraternal benefit eligibility4
Optional Features
- Accidental Death Benefits
- Waiver of Premium
- Accelerated Death Benefit
1 Subject to terms and eligibility.
2 Subject to payment of minimum guaranteed no-lapse premiums on cumulative basis. Maturity age 121.
3 Under current tax law. COF or its agents do not give tax advice. Consult a tax advisor regarding your specific situation.
4 Restrictions and limitations may apply.
UL10 3/2011
Secure4Life™
Features1
- Single premium UL with guaranteed coverage for guaranteed no-lapse period2
- Issue ages 50 - 85
- $25,000 minimum policy amount
- Tax-advantaged3
- Guaranteed lifetime lapse protection2
Benefits
- Policy Loans and Withdrawals3
- Fraternal benefit eligibility4
1 Subject to terms and eligibility.
2 Subject to payment of minimum guaranteed no-lapse premiums on cumulative basis. Maturity age 121.
3 Consult a tax advisor regarding your specific situation. Policy loans or withdrawals reduce the death benefit and cash accumulation and could reduce coverage duration.
4 Restrictions and limitations may apply.
UL10 5/2012 ULF GO 130 12-176
Value4Life™
Features1
- Flexible premium adjustable UL with guaranteed coverage for guaranteed 20-year no-lapse period2
- Issue ages 0 - 85
- $25,000 minimum policy amount
- Tax-deferred cash accumulation3
- Guaranteed lifetime lapse protection2
Benefits
- Policy Loans and Withdrawals3
- Fraternal benefit eligibility4
Optional Features
- Accelerated Death Benefit
- Accidental Death Benefits
- Fraternal Legacy Rider5
- Monthly Deduction Rider
- Waiver of Premium
1 Subject to terms and eligibility.
2 Subject to payment of minimum guaranteed no-lapse premiums on cumulative basis. Maturity age 121.
3 Under current tax law. COF or its agents do not give tax advice. Consult a tax advisor regarding your specific situation.
4 Restrictions and limitations may apply.5 For amounts of $100,000 and greater, terms and conditions apply.
UL10 3/2011
Legacy4Life™
Features1
- Flexible premium
- Adjustable UL
- Guaranteed coverage for guaranteed 20-year no-lapse period2
- Issue ages 0 - 21
- $50,000 minimum policy amount
- Tax-deferred cash accumulation3
Benefits
- Policy loans and withdrawals3
- Fraternal benefit eligibility4
Optional Features
- Accelerated Death Benefit
- Accidental Death Benefits
- Fraternal Legacy Rider
- Guaranteed Purchase Option
- Monthly Deduction Rider
- Waiver of Premium
1 Subject to terms and eligibility.
2 Subject to payment of minimum guaranteed no-lapse premiums on cumulative basis. Maturity age 121.
3 Under current tax law. COF or its agents do not give tax advice. Consult a tax advisor regarding your specific situation.
4 Restrictions and limitations may apply.
