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Silver eagleFinal Expense Life Insurance
Whole Life InsuranceJust as the name implies, whole life insurance is designed to provide insurance protection for your entire life1. This type of coverage offers many benefits in addition to longevity. A guaranteed death benefit, level premiums, and guaranteed cash value growth are just a few of the advantages of purchasing a whole life policy.
Final Expense Life InsuranceWhy get a final expense policy? You can use this type of policy to protect your family from the potential financial burdens associated with the end of one’s life. When someone passes away, they can leave outstanding debts, medical bills, and funeral costs for their loved ones. Many will safeguard their loved ones from these costs by purchasing life insurance.
Level Benefit Modified Benefit2
Issue ages 50-85 50-80
Face amount $2,500 to $35,000 $2,500 to $25,000
Dividend growth3
Simplified issue, no medical exams or tests4
Guaranteed cash value growth
Guaranteed death benefit
Level and Modified BenefitsELCO’s Silver Eagle contains two different products: a level benefit for standard cases and a modified death benefit for those with health issues that may prevent them from qualifying for other policies. The primary difference between the two products is the death benefit. If you qualify for the level benefit, the full death benefit is available immediately. When the modified benefit is used, the death benefit equals the premiums paid, plus interest, during the first two policy years. The full death benefit becomes available beginning in the third policy year.
Silver EagleParticipating Whole Life Insurance
1. Policy matures at age 121. 2. The Modified Benefit provides a return of premium plus interest during the first two policy years. 3. Dividends are not guaranteed. 4. This policy requires the applicant to answer a few basic health questions. 5. The combined face amounts of the level benefit final expense policy and the single pay life rider cannot exceed $35,000.For more information, please ask your local representative or call the home office.
Qualifying for CoverageDetermining whether you can qualify for the Silver Eagle is easy. Just answer a few basic health ques-tions and complete a short telephone interview. Decisions are made instantly, and no medical exams or tests are ever required.
DividendsUnlike many other companies, ELCO’s final expense policies are participating. A participating policy is eligible to receive dividends as declared by the company’s board of directors. Dividends are significant because they can be used to enhance your policy’s coverage by purchasing additional insurance that increases the death benefit of the policy. While dividends are not guaranteed, ELCO Mutual has never missed a dividend payment since becoming a mutual company in 1977.
A single premium whole life rider is available on all level benefit policies. The coverage is purchased with a single lump sum, which means no further payments are required. This policy is also partici-pating and eligible to receive dividends. Below are some of the key features of the single pay rider:
Single Pay Life Rider
Single Pay Life RiderIssue ages 50-85
Face amount5 $500-$25,000
Dividend growth3
Simplified issue, no medical exams or tests4
Guaranteed cash value growth
Guaranteed death benefit
ELCO Mutual Life & Annuity916 Sherwood Dr
Lake Bluff, IL 60044
Claims:Phone: 800-962-8610Fax: 847-295-1145
Email: [email protected]
Contact Information
Policy Services:Phone: 800-321-3526Fax: 847-295-6043
Email: [email protected]
A Better Future Built Here
This brochure is not a contract. Descriptions of policy provisions are only partial. In the event of a conflict, the policy will govern. ELCO Mutual and its representatives are not legal or tax advisors. This brochure is not a contract. Descriptions of policy provisions are only partial. In the event of a conflict, the policy will govern. For legal and/or tax advice, please see your tax/legal advisor. This plan is not available in all states, for availability contact your agent or ELCO Mutual.FEB-D-7-19 Policy Forms: ICC19-FE19 and ICC19-MWL19
