Indexed Single Premium Life Insurance

Aviva's Multi Choice Indexed Single Premium Life product is designed to provide your senior clients with a life insurance solution that could help them pass on a larger legacy to their heirs - with a death benefit that, in most cases, is received income tax-free by the named beneficiary.

Description & Highlights

“picture the possibilities for you and your clients ”

• Indexed Universal Life with a lifetime guaranteed death benefit for a single premium

• Several choices of interest crediting strategies

• Safe and efficient 'Legacy Asset' that transfers to heirs

• Life insurance death benefit, in most cases, passes income TAX-FREE to the beneficiary

• Interest grows tax-deferred

• Simplified underwriting, no medical exams - standard through Table 4!

• 10% Beneficiary Settlement Option Enhancement

• Penalty-free withdrawals available beginning year two*

• Potentially increasing death benefit

• Nursing Home and Accelerated Death Benefit Riders give access to dollars when specific health conditions are met

Who Can Benefit from Single Premium Life?

• Your senior clients who have money that they hope to pass on to their family

• Customers who wish to boost their estate legacy and pass it to heirs in a tax-advantaged manner

• Clients who are in good health and don't need the money for income

• Clients with inforce deferred annuities from which they do not plan to take withdrawals, and they do not plan to annuitize**

• Your clients with dollars in various savings vehicles such as savings accounts, money market accounts and CDs that are not needed for current income

• Clients who have a favorite charity and want to leave a specified amount that is larger than their original contribution - the single premium may be tax-deductible

• Your customers with dollars in bonds, equities or IRAs/401(k)s who want to pass on an enhanced benefit upon death**

• Clients who own current life policies that may not be performing as expected or policies that do not include a guaranteed death benefit**

 

 

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*Withdrawals will reduce the guaranteed death benefit. If the policy is an MEC, withdrawals will be taxed as income to the extent that there is a gain in the contract.

**Taxation normally required, based on any gain at the time of surrender or transfer. Penalties or surrender charges may apply on the existing products.