Universal Life insurance is permanent life insurance that offers flexibility and customization based on your financial goals. Under the policy’s terms, premium paid above the policy expenses, along with any earned interest, is credited to the policy’s cash value.1
1Catholic Order of Foresters (COF) determines the interest credited to the policy’s cash value, but there is a contractual minimum rate. Withdrawals and loans will reduce the death benefit and may have tax implications. Consult a tax adviser regarding your particular situation.
Secure4Life
Secure4Life is a single premium universal life policy from Catholic Order of Foresters that helps protect what’s most important.
Never pay another premium. Receive peace of mind knowing your loved ones are protected with just one premium payment.
The policy builds cash value over time, which is guaranteed to increase each year and will never decline in value due to changes in the financial markets. It provides dependable, long-term value that you can count on.1
1The face amount for a given premium will be determined such that the guaranteed cash value on the policy anniversary on or following the insured’s 100th birthday is equal to the face amount. As a result, the policy is guaranteed to remain in force during the insured’s lifetime unless the amount of outstanding policy debt equals or exceeds the cash value.
The cash value will always increase, and the death benefit will never decrease.2
2As long as no loans or withdrawals are taken.
Secure4Life offers valuable income tax advantages that include a death benefit that is typically paid income tax-free and tax-deferred cash value accumulation.3
3COF nor its agents provide tax advice; consult a tax professional regarding your specific situation.
A Value4Life policy from Catholic Order of Foresters is designed to optimize cash value growth in your life insurance.
Receive a competitive interest rate that can produce strong cash value growth over the life of the policy. It provides dependable, long-term value that you can count on.
Value4Life offers flexible premium options that you can adjust at any time to fit your lifestyle.1
1There must be enough cash value in the policy to cover the cost of insurance if a lower premium is paid than the amount sufficient to keep the policy in force, or if a premium payment is skipped completely. A policy lapse may result in a taxable event if there are outstanding loans on the policy.
Your policy has a guaranteed credited interest rate that will never decrease during the life of the policy.2
2Guarantees are backed by the claims-paying abilities of Catholic Order of Foresters.
Value4Life offers income tax advantages that include: a death benefit that is typically paid income tax-free, tax-deferred cash value accumulation3, and tax-advantaged access to your policy’s cash values.4
3COF nor its agents provide tax advice; consult a tax professional regarding your specific situation. 4Policy loans or withdrawals may reduce the death benefit and cash accumulation and could also reduce coverage duration. If loans equal or exceed the cash value, the policy will terminate. Policy withdrawals and surrenders are subject to a surrender charge within the first ten years of the policy’s issue. A policy lapse may result in a taxable event if there are outstanding loans on the policy. Withdrawals in excess of the sum of the policy’s cumulative premiums are subject to income taxation.
MEC stands for Modified Endowment Contract. An MEC is a life insurance policy with premium payments exceeding federal tax limitations in the first seven years after issue or a change in benefits. The cash value of an MEC will accumulate income tax free. In addition, death benefits will still be income tax free to the beneficiary. Any pre-death distributions, such as full or partial surrenders, policy loans, and policy assignments, are taxable to the extent there is a gain in the policy. In addition to regular income tax, a 10% federal tax penalty is imposed on the taxable portion of the distribution. The penalty tax is waived only if the taxpayer is over 59½ or qualifies for another exception under federal law.1
1Catholic Order of Foresters nor its agents offer tax advice; consult a tax professional regarding your specific situation.
A Universal Life policy is a type of permanent life insurance that offers flexible premiums and the opportunity for your policy to accumulate cash value.When the policy’s premium is paid, a portion of it pays for the cost of insurance. The remainder of the premium is added to the cash value and earns interest.
Flexibility: you decide the amount of premium payments, subject to the minimum required premium to cover the monthly cost of insurance.
Premium: after the cost of insurance, and other expenses are deducted, the balance will be added to your policy’s cash value and will be credited interest based on Catholic Order of Foresters’ current interest rates (but not less than the policy’s guaranteed interest rate).
Death Benefit: this will be paid to your beneficiaries, generally income tax-free.
Option A – Level death benefit (amount of life insurance)
Option B – Death benefit plus your policy’s cash value
The Fraternal Legacy Rider is a rider that can be added to certain life insurance policies. When you purchase a Catholic Order of Foresters life insurance policy with a death benefit of $50,000 or more, you can add the Fraternal Legacy Rider to your policy. It provides an additional five percent death benefit to a Catholic charitable organization of your choice at no additional cost to you. The rider’s flexibility allows you to name multiple charitable beneficiaries. For more information, visit this page!
Call the Home Office at 800-552-0145 and ask for the Claims Department.
Please have the following information available when you call:
Insured’s name and date of death
Certificate or policy number
Contact person’s information, including phone number and address
Once you provide this information, we will mail the claimant forms to the policy’s beneficiary(ies) that we have on file.
The information the beneficiary returns to the Home Office must include:
Completed claimant forms (completed by each beneficiary)
Certified copy of the Insured’s death certificate
Original policy or contract, if available
Not available in all states. Contact your agent or the Home Office for costs and complete coverage details. Policies subject to terms and conditions. The description of benefits is brief and does not constitute, in itself, a policy. For complete description, terms and conditions, please see the product documentation.
23-07-H6 V.09/23
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