When you purchase Secure Cash Advantage SPWL, you purchase a life insurance policy with a one-time payment of your choice and name your beneficiaries. You can work with your agent to discuss a desired end-value or to grow a current amount of funds that you may have set aside. Upon issuance, the policy's death benefit is immediately available to your beneficiaries should the worst happen, but will grow when your annual dividends are used to purchase additional guaranteed coverage. This ensures that you leave your beneficiaries with more than you started with.
Additionally, Secure Cash Advantage SPWL builds cash value quickly, so that your policy's cash value is generally equal to your original premium within one to four years. You can borrow against the policy's cash value should you need to during your lifetime. Policies of $100,000 or more include living benefits riders which allow you to tap into your policy's death benefit in the case of certain health events such as a terminal diagnosis or critical health condition to pay medical expenses.
Your life insurance policy becomes a safety net while you are living but a legacy to your beneficiaries at the end of your life.
To find out more about Secure Cash Advantage and other life insurance options from GBU, contact your GBU agent or visit gbu.org to schedule an appointment to discuss your needs.
Payment of dividends is not guaranteed as the assumptions on which they are based are subject to change. Loans and withdrawals taken against a permanent life insurance policy will reduce the death benefit and may result in a taxable situation. Coverages for disability, accident and/or illness are defined in the policy. Products not available in all states. Please see policy and rider for complete details. Contract Form Series: ICC20-SPWL, FL20-SPWL.2