New Life Insurance Products Released!

At Western Fraternal Life Association (wfla), we pride ourselves on the quality of our affordable life insurance and annuity products. We are launching two additional products to better serve our members. If you have any questions about the products, visit www.wflains.org/products.html or to find an agent in your area, use our agent locator. You can also call us on our toll free number 1-877-935-2467 and ask for the Marketing Department.

Young Family10/20/30 Year
Guaranteed Level Term

Are you looking for an affordable way to have term life insurance without increasing monthly payments? This product might be for you! You can choose a term life insurance certificate to cover you for a 10 year, 20 year, or 30 year period.

Premiums that never increase for the 10/20/30 year period without proof of insurability. This term insurance can be converted to permanent insurance coverage at certain times throughout coverage (see contract for details).

WFLA’s term products start with a minimum death benefit of $50,000 and can be issued to anyone between the ages of 18-70. (Specific plans may vary)

Our guaranteed level premium term product offers two riders that could help insure others in your life.

  1. The Children’s Term Rider- The rider covers the lives of all current children and all future children born to the primary insured (if the child survives a period of 14 days) until a child turns 23. The Children’s Term Rider offers conversion privileges to each child covered by the rider to buy their own life insurance protection, without proof of insurability.
  2.  Disability Waiver of Premium Rider- An optional rider that pays the premium in the event of total disability.

Not only is wfla’s 10, 20, and 30 year guaranteed level premium term life insurance a great product but it is very competitive with some of the largest insurance companies in America.  

For example, a $400,000 20-year level premium term for a 38 year old male non-smoker with disability waiver would have an annual premium at wfla – $651 versus New York Life – $717.72! What’s the difference? New York Life bases their premiums upon nearest age, while wfla premiums are based on attained age.

10/20 Year Pay Whole Life
(Starting June 1st 2013)

Whole Life insurance provides our members lifelong insurance protection with level premium payments. This contract offers favorable long-term cash values, dividends*, and death benefits; as well as additional benefits and riders. The Whole Life insurance certificate is for those who want coverage that is guaranteed to age 121.

The 10/20 Year Pay Whole Life provides coverage for death benefits of $2,000 and above with issue ages of 21-75 for the 10 Year Pay Whole life and ages 21-65 for the 20 Year Pay Whole Life. The highlight of these plans is that your coverage will be paid up after 10 or 20 years (respectively) and the coverage will be guaranteed until age 121. Additional benefits offered  on these plans are:

  1. Disability Waiver of Premium Rider- An optional rider that pays the premium in the event of total disability.
  2. Accelerated Death Benefit Option- If you are diagnosed with a terminal illness and a life expectancy of less than 12 months, you can receive up to 50% of your death benefit (minus any outstanding loans) prior to death. This plan is offered for no charge on certificates issued for $50,000 or more.

*dividends are not contractually guaranteed

If you have any questions regarding any of the products that wfla offers, please contact at Western Fraternal Life Association.

Getting Financially Fit

Piggy BankRecently, the news has been all about how young people, in Generations X and Millenials, are stymied by exponentially rising costs of students loans, coupled with tighter lending practices on mortgages and cars. It is difficult to think about planning for a family or retirement when each month students are paying a large percent of their paychecks to student loans. So how can we teach the next generation about how to become financially responsible?

How can we afford college? These 10 ways might seem obvious, but if a student follows each they are less likely to go into debt beyond what they can afford.

http://finance.yahoo.com/news/10-ways-afford-life-college-105500510.html

It’s true that student loans are hurting in the short term on a personal level, but it also extends to the rest of the economy. Check out this article to learn more.

http://news.yahoo.com/student-debt-hurting-economy-073000999.html

While the article is called ‘5 signs you may be broke in 10 years’, it is really just good advice about what to do NOW so you can be financially successful.

http://finance.yahoo.com/news/5-signs-you-may-be-broke-in-10-years-171228891.html

This article looks beyond today and at the potential for investing in tomorrow.

http://csbj.com/2013/03/18/millennials-young-adults-could-become-next-generation-of-dominant-investors/

This is an article that examines how we got to this point and what we can do to teach future kids how to live within their means.

http://finance.yahoo.com/news/kids-going-broke-fault-103000786.html

And finally, an article about how to get past the tricky hang-ups of budgets.

http://finance.yahoo.com/news/5-reasons-budgets-fail-them-050000652.html

Western Fraternal Life can also help to secure financial future. Whether it’s an annuity or a life insurance certificate, we can help you feel safe with your choices today. Click here to learn more about our products or click here to find an agent near you!