THE ESTATE SAVER
Single Premium Endowment Life Insurance Policy with No Cash Value

    The Estate Saver is a Pure Endowment Life Insurance Policy.  It is similar to a Term Life Insurance Policy, in that The
    Estate Saver has no cash value.  It is also irrevocable.  At maturity, the full Endowment will be paid to the insured.  
    The amount of the matured endowment will not change from the amount shown in the policy illustration and in the
    policy.  If death occurs before the maturity date, a post-mortem dividend will be paid to the beneficiaries.  The older
    the policy, the greater the post-mortem dividend will be.  However, in no case will the post mortem dividend be less
    than 90% of the initial premium.  The beneficiary will always have the option at death of the insured prior to
    maturity, to receive 100% of the initial premium, paid out over only five years in equal payments.  The policy has no
    cash value.  That means that at no time prior to maturity or death, is any part of the premium or endowment
    available for withdrawal.  The endowment benefit is only available at maturity depending on the policy period
    chosen, 3, 5 or 10 years.  The maximum issue age for the policy is 100.  Issue age is based on age nearest birthday.



    What is Endowment Life Insurance?

    Definitions of Endowment Insurance:

    From The Life Insurance Industry

    Endowment Insurance
    ...it may be said that an endowment policy is a combination of pure or level term insurance and a pure endowment.  
    The same description may be applied to a whole life policy, which is simply a combination of term insurance for a
    period extending to age one hundred and a pure endowment for the same time.
    Life Insurance, by Dan McGill, 1967 edition

    Pure Endowment Life insurance policy under which its face value is payable only if the insured survives to the end of
    the stated endowment period.
    Barron's Dictionary of Insurance Terms, by Harry W. Rubin, third edition, 1991


    Definitions of Endowment Insurance:

    From the Web

    Endowment Insurance
    A type of life insurance that provides a benefit (a) if death occurs during a specified number of years or (b) if, at the
    end of the specified number of years, the insured is alive.
    www.1stinsured.com/e.htm

    Endowment Insurance
    A form of Life Insurance where the face amount is payable to the insured at the end of the contract period or to a
    beneficiary if the insured dies before that. An example would be an insured purchasing an endowment payable at age
    65: If he reaches that age, the proceeds would be payable to him. If he dies prior to that age, the proceeds would be
    payable to the designated beneficiary as a Life Insurance benefit. (LI)
    www.insweb.com/learningcenter/glossary/life-e.htm

    Endowment Insurance
    (n) endowment insurance (life insurance for a specified amount which is payable to the insured person at the
    expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured)
    wordnet.princeton.edu/perl/webwn

    Endowment Insurance
    A type of life insurance that is payable to the insured if he/she is still living on the policy's maturity date, or to a
    Beneficiary otherwise.
    http://www.investorwords.com/1708/

    Endowment (Life insurance)
    payment of the face value of a life insurance policy, usually at age 98-120
    http://en.wikipedia.org/wiki/Endowment

    Definition of "Endowment Insurance"
    A type of life insurance that pays the face amount of the insurance if the insured dies during a specified number of
    years. The insured receives the face amount of the life insurance if alive at a certain age or at the end of the specified
    number of years.
    http://www.totalreturnannuities.com/annuity-glossary/e/endowment-insurance.html  


    Endowment Policy Benefits -- Why Choose an Endowment Policy?

    A key benefit to an Endowment Policy as a savings vehicle over other insurance products become very obvious.  The
    primary insurance policy used today as a savings vehicle is a Tax-Deferred Annuity.  Upon death, the beneficiary
    owes the income tax due based on all annuity growth.  

    However, when death occurs to the owner of an Endowment Policy and the funds pass to the beneficiaries, there is
    no income tax due from any growth occurring in the Endowment Policy.  This is a benefit true to Life Insurance
    Policies as opposed to Annuities.
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Barry Rahm
Barry Rahm Insurance
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Phone Toll Free 800-255-1932, Local 805-683-6311
Fax 805-683-6313, Cell 805-455-4611

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