Western Fraternal Life :: Learning About Vision 20

Learning About Vision 20

Jul 15, 2016

Bonnie and Robert bought a house that’s just perfect. It’s close to schools, their friends, shopping, and church. They’ve been putting off buying life insurance, but now that they have settled into their new house, they are ready to get this next task checked off their “to do” list.

They met with their Western agent, who introduced them to a plan called Vision 20. This is a special plan that combines two types of insurance:

20 Pay Whole Life
Premiums are paid for 20 years and permanent coverage lasts your whole life.

20 Year Term
They only have to pay premiums for 20 years with the Vision 20 plan. This seems like a good fit for Robert and Bonnie, because they have a fifteen year mortgage. With this plan they will have extra coverage during the years they have extra debt.

Let’s say they each took out a Vision 20 plan for $25,000 on the permanent part of the plan, and $225,000 on the term part of the plan (their house is worth $225,000). For 20 years, this would give them each a total coverage of $250,000. If anything should happen to one of them during this time frame, their spouse would have enough to cover the mortgage and pay for the funeral.

After 20 years, the term part of the policy ends. The permanent part of the policy remains, is completely paid up, and lasts the rest of their lives. Bonnie and Robert won’t have a house payment, or a life insurance payment, and are both left with $25,000 of paid up whole life insurance. This puts them in good financial order as they look toward retirement.

Western does have another plan called Vision 10. As you might deduce, this plan is for a 10 Pay Whole Life combined with a 10 year Term. This plan would be great if you wanted to cover a loan that would be paid off in 10 years, or perhaps during the time your children were in college.

Bonnie and Robert filled out their applications and were each approved. We congratulate them on their sound financial decisions while having a “Vision” for their future. Welcome to Western Fraternal Life! 

Do you know someone who could benefit from this? Give them your agent’s name and tell them to call today, or call the Home Office for more information.

Category: insurance

Shannon Daugherty

ACS, FLMI, Member Programs Assistant

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