Andy and Stacie just purchased their dream house and are excited to get moved and start the family they have been talking about. Stacie is an archivist at a museum in the city and hopes to run in her first marathon this year. Andy is a teacher at the local community college and has been coaching baseball through the Little League Baseball Organization for five years.
With their newly acquired mortgage, they share their concern of taking care of each other if something were to happen to one or the other, and they want to make sure the house would be paid off. While talking with their Western Fraternal Life agent, they learned that they can purchase a $200,000 30-year term life insurance policy to align with the term on their mortgage and provide financial security for the couple.
In addition, the policy comes with a unique feature at no additional cost* that will provide additional funds to be paid in the event of their death to the 501(c)(3) charity of their choice, such as the museum where Stacie works, or the Little League Baseball Organization through which Andy coaches.
They chose each other as the beneficiaries on the base policy. Here’s what they learned from their agent:
Andy for $23.13/month** could leave:
$200,000 to Stacie as beneficiary AND
$10,000 to the Little League Baseball Organization
Stacie for $20.38/month** could leave:
$200,000 to Andy as beneficiary AND
$10,000 to the museum
For less than $45 per month, they each receive coverage for their mortgage for 30 years, and each plan to donate $10,000 to their favorite charity if they pass away. Andy and Stacie are thrilled to be able to take care of each other and provide for their charities all with one purchase.
What charity would you choose?
* The Legacy Benefit Rider is a benefit provided on term coverage (base or rider) $100,000 and above issued after 7/1/19. Benefit provides up to an additional 5% (maximum of $25,000) of death benefit payable to a charity named by the policy owner. Please contact your agent, or the Home Office for details.
**Quoted rates are super-preferred non-tobacco rates. Premiums are guaranteed for the term period, then increase annually thereafter. Premiums above are examples only and may vary based on your personal health history and underwriting guidelines. All policies are subject to underwriting.
ACS, FLMI, Member Programs Assistant
Call 877-935-2467 to speak with a Western Fraternal Life Representative.