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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 contract is fully paid up with immediate cash value that continues to grow for the life of the insured. This plan can be purchased for any age from infancy to age 95. The minimum purchase amount is $3,000. Dividends are payable at the end of 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 the first year. This plan can be purchased for any age from infancy through age 90. The minimum issue is $2,000. Dividends are payable usually after the first year when and if declared by the Board of Directors. 20 Payment Whole Life An alternative to the 3 Payment Whole Life Plan. Because twenty (20) payments are made instead of three (3), the annual premium payment under this plan is less than the annual premium payment for the same face amount of coverage under the 3 Payment Plan. Dividends are payable usually at the end of 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 minimal amount of initial cash outlay. Premiums are payable for the life of the insured on either an annual, semi-annual 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 or 20 Payment Plans. Single Premium Juvenile Term to Age 30 Designed specifically for children and young adults age 25 and under. With a one-time payment children or grandchildren can be provided with $10,000, $15,000, $20,000 or $25,000 of life insurance protection until the age of 30. 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. Dividends are not anticipated, and contracts build minimal cash value which is reduced and ultimately eliminated by age 30. 20 Year Convertible Term A good option when life insurance is essential but funds are limited. This plan pays a level death benefit only if the insured dies during the 20 year term. Premiums are payable for 20 years and are guaranteed to never increase during the entire 20 year period. It can be converted to any of AMLA's permanent plans of insurance for an amount not greater than that in force, without evidence of insurability, and at any time prior to the expiration of the 20 year term period; but not after age 75. Issue ages are 16 through 80. Dividends are not anticipated, and contracts build cash value which is reduced and ultimately eliminated at the expiration of the 20 year term. This plan is an excellent choice for a young family, and is an ideal way to pay off a mortgage in the event of premature death. | The American Mutual Life Association is licensed to sell insurance only in the State of Ohio. Nothing contained herein should be construed as a solicitation for insurance or annuity products in any state in which the American Mutual Life Association is not licensed. |
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