First Investors Life Introduces Express Issue Single Premium Variable Life
First Investors Life Insurance Company is introducing its new Express Issue Single Premium Variable Life (SPVL) policy. The product will be available in approved states on October 17, 2011.
Express Issue means First Investors Life will use simplified non-medical underwriting for SPVL policies with face amounts of $150,000 or less. Face amounts over $150,000 and prospective purchasers who do not qualify for Express Issue will still be eligible for full underwriting.
SPVL can be a great way for you to transfer wealth from one generation to the next or to make a bequest to a charitable organization in a tax-efficient manner. For example, you can use the money you were planning to leave to your college or university to buy a SPVL policy. Depending on your age, gender and underwriting classification, you will typically be eligible for a death benefit greater than your initial premium. Because SPVL is a "variable" policy with underlying professionally managed investment subaccounts, the variable death benefit has the potential to increase over time due to investment gains. The variable death benefit may also decrease due to investment losses, but will never decrease below the guaranteed minimum death benefit.
Should the need arise, an important feature is the ability to access your cash value in the policy's later years. For example, to help fund your retirement, First Investors Life's SPVL also includes the option to convert the policy's cash value into a guaranteed monthly income for the remainder of your life.
Talk to a First Investors Financial Services Representative today about how SPVL may be able to help you reach your financial goals. At the same time your representative can also help you evaluate your other life insurance needs and recommend the appropriate coverage.
SPVL is offered by prospectus only. The prospectus contains important information about the SPVL policy's features, risks, charges and expenses along with the investment objectives, risks and charges of the underlying subaccounts. Read the SPVL prospectus carefully before you invest or send money. The availability and features of the SPVL policy vary by state. All policy guarantees are based on the claims-paying ability and financial strength of First Investors Life. The amounts allocated to the subaccounts are subject to market fluctuations. There are no guarantees on investments in the subaccounts.
