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Single Premium Whole Life Our most popular product. It allows for the purchase of permanent life insurance coverage by making a one-time payment. No additional premium payments are required and the insured has a fully paid up certificate with immediate cash value that continues to grow for life. This plan can be purchased for any age from infancy to age 75. The minimum purchase amount is $3,000. Dividends are payable after the first year, when and if declared by the Board of Directors. This plan makes an excellent gift for newborns. Whether purchased for a child or by an adult, this plan provides a lifetime of security. 3 Payment Whole Life An alternative to the Single Premium Whole Life Plan. Premiums are payable on either an annual or semiannual basis for a period of only three (3) years after which no additional premiums are required; and the insured has a fully paid certificate with a cash value after either the first or second year depending on issue age. This plan can be purchased for any age from infancy through age 65. The minimum issue is $1,000. Dividends are payable after the first year when and if declared by the Board of Directors. 5 Payment Whole Life A variant of our 3 Payment Whole Life Plan. Because five (5) payments are made instead of three (3), the annual premium payment under this plan is slightly less than the annual premium payment for the same face amount of coverage under the 3 Payment Plan. 20 Payment Whole Life An alternative to both the 3 Payment and 5 Payment Whole Life Plans. Because twenty (20) payments are made instead of five (5) or three (3), the annual premium payment under this plan is less than the annual premium payment for the same face amount of coverage under either the 3 or 5 Payment Plans. Dividends are payable after the second year when and if declared by the Board of Directors. Ordinary Whole Life Most appealing to persons wanting permanent life insurance coverage with a mininmal amount of initial cash outlay. Premiums are payable for the life of the insured on either an anuual, semi-annutal or quarterly basis. Because premium payments are paid each year for the lifetime of the insured, the annual premium payment under this plan is significantly less than the annual premium payment for the same face amount of coverage under the 3, 5 or 20 Payment Plans. Single Premium Juvenile Term to Age 25 Designed specifically for children age 15 and under. With a one-time payment children or grandchildren can be provided with either $5000 or $10000 of life insurance protection until the age of 25. At that time they can elect to convert to any of AMLA's permanent plans of insurance with up to twice the original face amount of coverage without regard to medical condition. Additionally, this plan generates conversion credits which reduce the initial premium on any new permanent insurance plan which may be selected. However, no dividends are paid and certificates do not build cash value. |
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