Saving for retirement has never been easier for your clients. With our FREEDOMFLEX® product, we offer your clients the solution of a financially sound retirement as well as the peace of mind of knowing that in the case of premature death or disability they are covered by a term to age 100 life insurance certificate/policy.
FREEDOMFLEX® is a deposit term life insurance product. In the first year, part of your client's premium is allocated to a modified premium term to age 100 life insurance certificate/policy as well as an optional disability benefit. The remainder of their premium is allocated to an endowment portion of the certificate/policy and matures in 10 years. At the end of 10 years, this additional premium is returned to your clients at about 260% of its original value, provided the plan is not cancelled before the initial 10 years are up.
After the first year, part of your client's payment is still allocated as required premium for the term life insurance and optional disability benefit. Their remaining premium now goes to work for them in their choice of wealth accumulation vehicles. Wealth accumulation vehicles can be, for example, a no load mutual fund of your client's choice. Having a choice gives your clients control over their investment strategies. Which ever option they choose, 100% of your client's non-life insurance premium dollars goes to work for them.
At the end of 10 years your clients will have the flexibility to determine what is best for them. They may stop payments entirely or continue them for as long as they wish. Depending on their specific needs, the life insurance coverage may be renewed for another 10 years, canceled, or continued as decreasing term insurance until age 100. Payments to the wealth accumulation vehicle are also flexible. They may be stopped after 10 years or continue as long as your clients wish.