Americo Financial Life and Annuity Insurance Company
 
Learn the Basics
about Lifetime Legacy

 

Lifetime Legacy designed with you in mind.

Lifetime Legacy allows you to immediately increase the value of your estate. This specially designed life insurance policy provides a guaranteed minimum death benefit for your lifetime that is, in many cases, substantially greater than your initial premium payment. The proceeds from your death benefit will pass to your loved ones generally income tax-free and may avoid the costs and delays of probate.

Lifetime Legacy also provides benefits while you are living. Up to 80% of your guaranteed minimum death benefit1, less any loans, is available if you should become permanently confined to a qualified nursing facility or if you should be diagnosed with a qualifying terminal illness. You may use these dollars however you wish. This rider is issued with your policy at no extra charge (where available). 1

Efficient Transfer to Heirs.
Compared to many alternatives, repositioning some of your assets into Lifetime Legacy may allow you to pass on a larger, generally income tax-free benefit to your loved ones.

Guaranteed Minimum Death Benefit for Life.2
The guaranteed minimum death benefit is guaranteed for your lifetime assuming no policy loans, withdrawals, or accelerated benefit payments are taken. No additional premiums are necessary to maintain your guarantees.

Guaranteed Cash Surrender Value.
The cash surrender value is guaranteed to never be less than the initial single premium after the fifth policy year, assuming no policy loans, withdrawals, or accelerated benefit payments are taken.

Living Benefits for You.
Lifetime Legacy offers an additional benefit that gives you access to cash if you should become permanently confined to a qualified nursing home or are diagnosed with a qualifying terminal illness. The Accelerated Benefit Payment Rider is added to your policy at no extra cost to you (where available). It gives you access to up to 80% of the guaranteed minimum death benefit less any policy loans to use however you wish. It is payable in either a lump-sum payment or equal periodic payments on a quarterly or semiannual basis over the course of one year. 1

Access to Cash.3
Only funds not needed for income should be repositioned into Lifetime Legacy. However, should you ever need cash, you may take a withdrawal after the fifth policy year. The guaranteed minimum death benefit will be reduced by a proportionate amount. Policy loans may be taken after the first policy year at a net cost of 2.5%.

Payout Peace of Mind.
If you are considering leaving a large sum of money to a loved one with questionable spending habits, Lifetime Legacy can provide you with some peace of mind. You can specify on your application that the policy proceeds be paid over a period of no less than five years.


 

Lifetime Legacy Client Brochure

Lifetime Legacy Q&A
Lifetime Legacy Video

Lifetime Legacy Example

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1 Accelerated Benefit Payment Rider (Rider Series 2149). Benefits may vary by state and may not be available in all states. Certain limitations and exclusions apply. The permanent nursing home benefit is payable after a 90-day elimination period from the time confinement begins. Because accelerated benefit payments are treated as liens against the policy, interest will apply and will gradually decrease the amount of proceeds payable over time.
2 The policy's guaranteed minimum death benefit is equal to the initial specified amount, as defined in the policy, assuming no loans, withdrawals or accelerations of the death benefit have been taken. The guaranteed minimum death benefit and the guaranteed cash surrender values are both guaranteed, assuming no loans, withdrawals, or accelerations of the death benefit are taken.
3 Policy loans and withdrawals will impact policy performance and the ability to take future distributions. Policy loans repaid according to the terms of the policy will restore the values. Any gain may be subject to taxes and IRS early distribution penalties if taken prior to age 59½.

Lifetime Legacy (Policy Series 258) is underwritten by Americo Financial Life and Annuity Insurance Company, Kansas City, MO, and may vary in accordance with state laws. Some products and benefits may not be available in all states. Certain restrictions apply. Consult policy for all limitations and exclusions.

 

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Americo Financial Life and Annuity Insurance Company is authorized to conduct the business of insurance in the District of Columbia and all states except AK, NY, and VT.