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Single Premium Life - Detailed Comparison

 

America (A-)
Lifetime Legacy

F&G (A)
Heritage Master
Indianapolis
Life* (A)
Vista/Crown Choice

North Amer. (A)
Optimum Legacy

Philadelphia American (B+) Advantage Life
Issue Ages
55-85 Age last
50-85 Age last
50-85 Age last
45-85 Age last
45-85 Age
Minimum
Issue
$15,000 Premium
$10,000 at risk
Greater of $10,000 premium
or $25.000 death benefit
$10,000 Premium
$5,000 Premium
Maximum Issue
$150,000 above
initial premium
None: Approval needed over $500,000  
50-70 $150,000 risk
71-75 $100,000 risk
76-85 $50,000 at risk
Varies by Age
(see software)
$100,000
Illustration
Not Required  
Required
Vista Choice - Required
Crown Choice - None
Not Required
Not Required
Guaranteed
Coverage

Initial death benefit
Initial death benefit
Initial death benefit
Initial death benefit
DB grades in
over 4 years;
Minimum DB: Premiums plus 6%
Interest Rate
4% gtd
Indexed - 100% participation;
3% minimum cap;
1% min interest gtd  
Vista Choice - indexed / 2% gtd
Crown Choice - 3% gtd
3% gtd
4.5% current
cash value guarantees
Premium Classes
Nicotine/Non-nicotine
issued std through table 4
Smoker / Non-Smk
Std / Sub-Std
Tobacco/Non-Tob
issued std through table 4
Tobacco/Non-Tob
issued std through table 4
One Class Only
Underwriting
Simplified issued
Point of sale tele-underwriting
Simplified to $100,000 at risk;
Full underwriting $100,000+
Simplified issued
Point of sale tele-underwriting
Simplified Web Based UW to age 80 or $150,00 net risk
Guaranteed issue;
No medical questions
Return of Premium
After 5 years
None 
Yr 7+ Crown Choice Only
lifetime guarantee
At death +6% return
Surrender Charge
7 years
Cash surrender value equal to initial premium after 5 yrs
15 yrs, 1-6; declines 1% per yr 6+
12 year declining;
age 50-75 / 7%-1.5%
age 76-85 6%-0.5%
6% declines
through yr 9
none - gtd cash values
Loads
 17.8% premium load yr 1-5%; varies by age yr 6+
10% premium load  
7% premium load;
$6 monthly
expense charge
3% premium load 
$40 policy fee
Charge Backs
(surrender)
100% first year
100% first year
100% months 1-4
66.7% months 5-8
33.33% months 9-12
100% first year
None
Accelerated DB
80% at 24 month life expectancy
$250 Admin fee
50% at diagnosis of terminal illness or specified condition  
50% of DB up to $250,000 max with 12 month diagnosis 
75% ($250,000 max) if death expected
within 24 months
None
Cash Draws
Available after yr 5
None
10% annually yr 2+
10% annually yr 2+
Loans Only
Loans
6.5% after yr 1
2% net yrs 1-10;
zero cost yr 11+
1.5% net interest
all years
Inter: 0% net yr 3+;
Prin: 5% yr 1+
92% of CV; Variable rate; 8% max
Nursing Home
90 day elimination; 80% of DB
50% cv, if a specified condition
25% annually
None
None
Home Care
None
None
None
None
None
Prem Collection
All premium must be received in one lump sum
All must be received at time of application
Collected within 30 days, exceptions can be granted
Collected within 30 days
All cash on submission
$100,000 Prem
Male 65 NT
$201,999 DB
$85,461 Initial CV
$152,790 DB;
$81,155 Initial CV

Indexed: $332,963 / $268,909 CV; Gtd: $178,571 / 0 CV; Crown - $168,067 DB / $100,000 CV

$188,069 DB;
$100,000 Initial CV
$150,316 DB;**
$71,400 Initial CV
20 Yr Values
$201,999 DB
$100,014 CV
$359,734 DB / $301,471 CV;
Gtd: $152,790 DB / $0 CV
$188,069 DB;
$145,535 CV
$150,316 DB;
$115,893 CV
Notes
High Ratio of DB to premium for a fixed
Full underwriting and possible physical for amounts over $100,000
3 Indexing strategies; Life protector rider for Non-MEC; 10% bonus on payouts of 10+ yrs;
Gtd to endow at age 100
DB for 20 years; increase 3% year 21+ to a max of +50%
Commission
Reductions
5.5% age 81-85 Non Nic; 1.5% age 81-85 Nicotine;
None
9% age 81-85
None
6.75% age 73-77
2.75% age 78-85
Agent Comp
11%
10.50%
12%
8.50%
9%

* Amerus issues identical products under policy names: ??
** Max issue on Philadelphia Life / is $100,000 - Values shown here are for policy comparison purposes only
Agent Use Only - Not For Use with the General Public!