William Penn Life, 1999 (34. évfolyam, 2-12. szám)
1999-11-01 / 11. szám
WPAamQ « I can not find my • WPA life insurance policy. What do I need to do to get a copy of my policy? Is it even necessary that I have a copy? A# Technically, no, you do • not need a copy of your life insurance policy. However, it is to your advantage to have a copy of your policy among your personal papers. What would happen if you die, and you do not have a copy of your policy among your important papers? Your survivors, not finding a copy of your policy, may not be aware that you had insurance coverage. By having a copy of your insurance policy, and understanding its contents, you (and your beneficiaries) can ensure that your beneficiaries will receive all the benefits to which they are entitled under the contract. If you lose your policy and would like a duplicate, write to the Home Office and ask for a duplicate certificate form. Complete the form, have it witnessed and return it to us. We will process the form and issue you a duplicate. If your original policy was so old that a duplicate is not available, you will receive an “in lieu of letter.” In either case, the duplicate or “in lieu of letter” will supercede the original policy. It would also be wise to make a list of all your insurance policies and keep it with your important papers. For each policy list: the name, address and phone number of the insurance company: the policy number; the type of policy: the face amount of the policy: and the beneficiaries. Annuities A safe, simple and sound investment WHEN IT COMES TO INVESTING their hard-earned money, most people rank annuities high on—if not at the top of—the list of investment options. How popular are annuities? According to the Retirement Annuities Company, about 14 percent of the total savings amassed by U.S. families—some $410 billion—are in annuity contracts. Such popularity is easy to understand when you look at the features of a basic annuity contract: • First (and foremost for many) is safety of principal. The money you invest in an annuity will always be there no matter what happens to interest rates or the economy. Sure, investing in the stock market may earn you a higher return, but when was the last time you heard someone say they lost their shirt investing in an annuity? Current annual interest rate on all WPA Single Premium and Flexible Premium Deferred Annuities is • Interest on top of interest. Since your principal stays in the annuity until the payout period begins (earning interest all the while), you earn interest on the principal and the interest earned previously. And, because annuities are tax-deferred (meaning you don't pay taxes on your investment until you start the payout period), you earn interest on what would have otherwise been taxes paid to the government. • Annuities provide an income you can never outlive. Payments from an annuity are based only on the interest earned. Your principal remains intact, continuing to earn interest for future payments to you. • Annuities are simple. You invest your money and wait until 6.0 your payout period begins. There's no fretting over stock prices, no commission charges. Should you die, your beneficiary will receive benefits from the contract and avoid probate. There are several basic types of annuities you can choose from to meet your financial needs. • You can invest in either immediate or deferred annuities Immediate annuities provide payments to you shortly after you pay the premium, while deferred annuities provide payments that start later, often at your retirement. • You can also choose either a single premium annuity into which you make only one premium payment, or an installment premium annuity into which you make a series of premium payments. Most installment type annuities are flexible premium contracts into which you pay whatever amount you want, within certain limits. % As with any type of investment, look before you leap. Ask yourself how much income you will need in the future, when you will need it and how much you can afford to pay in premiums now. Find out what charges will be applied to your annuity. Of course, it's best to seek professional advice when planning any investment. Your local WPA representative will be happy to discuss the types of annuities the WPA offers and answer any and all questions you may have. If you don't know how to contact your local representative, call our Home Office toll-free at 1-800-848- 7366 weekdays between 8:15 a.m. and 4:00 p.m. eastern time. |\yp[ 4 Killian Pm Lile, November 1999
