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Liberty Life Assurance Company of Boston Estate Maximizer II. Maximize an estate. Minimize the wait. Eliminate the hassle.
Liberty Life Assurance Company of BostonEstate Maximizer II Maximizean estate.Minimizethe wait.Eliminatethe hassle. Insurance Product: Not A Deposit – Not FDIC Insured – Not Insured By Any Federal Government Agency or NCUA/NCUSIF – Not Guaranteed By Any Bank Or Credit Union – May Go Down In Value Liberty Life Assurance Company of Boston, a member of the Liberty Mutual Group, issues Liberty Life’s Estate Maximizer II, a single payment interest-sensitive whole life insurance contract, on policy forms SPWL 200314 and GSPWL 200314 CE (SPWL 200314 NY in New York). Product features and availability may vary based on state approval. Liberty Life’s obligations under its life insurance contracts are guaranteed by Liberty Mutual Insurance Company. Liberty Life’s Assurance Company of Boston Home Office: Boston, MA Service Center: Dover, NH Not for use with the public. BNK 2005074
A Single Payment Interest-Sensitive Whole Life Insurance Contract Issued by: Liberty Life Assurance Company of Boston, a member of the Liberty Mutual Group Home Office: Boston, MA Service Center: Dover, NH
Target Markets • Someone between the ages of 45-85 who is looking for safety, guarantees, and an attractive rate of return. • Someone who is planning on leaving money to his/her loved ones • Potential annuity contract holders • Customers who keep renewing their CDs • Customers who have “in trust for,” “pass on death,” custodial or beneficiary named on their account • Widows or widowers who may have received a death benefit at spouse’s death • Grandparents who wish to pass on money to their grandchildren
Product Benefits For your clients: • Safety • Attractive returns • Access to contract values “Just in case….” • Tax-deferral on accumulation • Bypasses probate – with named beneficiary • Life Insurance death benefit – more to heirs For you: • Approvals in just 10 minutes1 • Knowledgeable back office support • Some restrictions apply
Maximum Benefits * Withdrawals or loans of interest earnings from single payment whole life insurance may be subject to tax penalties. This tax penalty is not applicable if the policyholder is at least 59½ years old. For tax purposes, loans and withdrawals will first come from accrued interest earnings and are subject to income tax when received.
Safety • 100% Principal Guarantee1 • One year interest rate lock • Initial death benefit guarantee1 • 30 day free look • Backed by the full strength of Liberty Mutual • Unless withdrawals or loans have been taken.Withdrawals or loans of interest earnings from single payment whole life insurance may be subject to tax penalties. This tax penalty is not applicable if the policyholder is at least 59½ years old. For tax purposes, loans and withdrawals will first come from accrued interest earnings and are subject to income tax when received.
Attractive Returns • Premium earns interest immediately • Renewal rate declared on each anniversary and locked for the next contract year • Accumulations grow tax-deferred
Access to Contract Values • We will waive the withdrawal charge on that portion of a withdrawal1 not exceeding the greater of: • 10% of the Account Value; or • The earnings of the contract since its inception • Low cost loans1 • Interest 4% charged; 4% credited • Principal 6% charged; 4% credited • Extended Care Benefit2 • Qualifying medical stays • 45 days out of any continuous 60 day period • Insured or insured’s spouse • Withdrawal charges waived • Annuitization1 • Unless withdrawals or loans have been taken. Withdrawals or loans of interest earnings from single payment whole life insurance may be subject to tax penalties. This tax penalty is not applicable if the policyholder is at least 59½ years old. For tax purposes, loans and withdrawals will first come from accrued interest earnings and are subject to income tax when received. • Product features and availability may vary by state.
Life Insurance Death Benefit • Increases estate value immediately—pass more money to heirs • Pass money to heirs income tax-free under current tax law • Estate tax-free if set up correctly – please consult with a tax advisor.
Liberty’s Living Benefit1 • Up to 90% of death benefit (max $250,000) • Insured is diagnosed with a terminal illness or is chronically ill2 • Applies to insured only • Product features and availability may vary by state. • Chronically ill: Unable to perform at least 2 of 6 activities of daily living. Not available in all states.
Instant Approval Eligibility: • Stay within minimum and maximum premium limits • Must have all “NO” answers to all parts of Question 9 • MIB inquiry does not prompt further investigation
Instant Approval Minimum Premium = $10,000 Maximum Premium = • Larger amounts available with normal underwriting • Compensation is reduced
Instant Approval “NO” answers to Question 9:
Instant Approval Normal underwriting applies if: • Premium exceeds Instant Approval limits • Any “YES” to Question 9 • MIB inquiry prompts further investigation
It’s As Easy As 1-2-3 1) Complete the Application for Life Insurance and the Signature Page. Be sure to write in your Bank name, telephone number and fax number 2) Fax the white copies in the following order to 1-800-400-6694 (It is not necessary to attach a cover sheet or call ahead) • A) Application for Life Insurance • B) Signature Page 3) A Liberty representative will call you within 10 minutes to let you know if the policy can be “Instant Approved.” However, if you do not hear from us after 15 minutes, please call our Service Team at 1-800-897-9883
Things to Know • Issue ages 0-85 (age last birthday) • Issue Classes: Standard and Class A • Modified Endowment Contract (MEC) – taxes and penalties may apply for loans or withdrawals before 59½. • 7 year surrender charge period
The Choice is Yours(Illustrative Results After One Year)Assumes $30,000 principal, 2.0% net interest, 33% tax bracket Rates shown are for illustrative purposed only and are not guarantees or estimates of future rates that could be payable. • With the Estate Maximizer II, the account value grows tax-deferred. Death benefit passes income tax-free • Initial death benefit for a female age 65
About Liberty Liberty Mutual Group • Founded in 1912 • Consistently ranked in the top 150 among Fortune 500 companies • A leading writer of workers’ compensation insurance1 • 8th largest person lines insurer1 Liberty Life • Protecting families since 1964 • $49 billion insurance in-force • A leading provider of non-credit life insurance in banks • Liberty Mutual Group Annual Report, 2003
Contact Information Application Fax Number: (800) 400-6694 Point Of Sale/Post Sales Questions: (800) 326-5433 Pete-x148, Dean-x143, Eric-x126 Marketing Hotline, Quotes, Supplies: (800) 326-5433 Pete-x148, Dean-x143, Eric-x126