FCSU offers various Insurance Plans to best suit your needs
Among reserve policies, Ordinary Whole Life offers you the greatest protection for the smallest premium. Ordinary Whole Life offers good flexibility as well. For example:
* Dividends are not guaranteed.
A Single Premium Whole Life policy is an easy and simple way to achieve the life insurance coverage you need. As the name implies, by making only one premium payment you have a completely paid up whole life policy. Important features of the FCSU's plan include:
* Dividends are not guaranteed.
Single Premium Whole Life policies make excellent gifts. Honor a newborn or a newlywed with a fully paid-up life insurance policy.
The FCSU's 20 Payment Whole Life Policy can be a very attractive alternative to the Ordinary Whole Life Policy. Owners of the FCSU's 20 Payment Life Plan pay premiums for only 20 years, and then own their paid-up policies. Other features include:
* Dividends are not guaranteed.
The FCSU's Juvenile Enrichment Plan (JEP) is an innovative way for you to offer protection and security to your children, grandchildren, godchildren, nephews and nieces. It's a way for you to offer any child, from infancy to age 25, a significant amount of Term Life Insurance with the guaranteed ability to convert that Term coverage into a permanent life insurance contract.
Here's how the JEP works. You select the amount of Term Life Insurance coverage you want to provide from the low FCSU's low premium schedule - any amount between $10,000 and $100,000. During this Term Insurance period, the JEP certificate holder (the child) earns conversion credits toward the future purchase of an FCSU permanent life insurance policy. At conversion the JEP certificate holder can select the type of permanent insurance plan he or she prefers. The earned conversion credits will be applied to lower the new policy's first year premium. The young adult now has a permanent life policy that can begin accruing cash and loan value and is eligible for dividends.
Other JEP benefits include:
The FCSU's Special Juvenile Savings Plan is a simple program designed to offer a way for you to give your child, grandchild, or any youngsters a great start in life: With this plan at age 18 he or she will continue to have insurance coverage, and can elect to receive the accumulated annuity funds for the amount purchased. These funds can be used for college, business startup, or any other endeavor. The basic plan unit is $1,000 annuity at age 18 and $1,000 life insurance. Any child up to age 15 is eligible, and premiums for this plan can be made by either a one-time single premium or by convenient low annual premiums.
Features of the Juvenile Life With Savings Plan include:
* The $1,000 cash payment is the projected amount based on the current annuity interest rate of 6% for single premium plan and 5.5% for annual premium plan.
The FCSU's Yearly Renewable Term life insurance is a way to achieve maximum insurance protection while keeping premiums low. It's ideal for those with a limited life insurance budget, such as parents with growing families or someone starting a profession or building a business.
Yearly Renewable Term can be issued to anyone age 25 through 75 (70 in New York) in amounts of $25,000 and up. Premiums increase annually and Term policies do not accrue cash or loan values. However, they do allow you to purchase substantially more life insurance coverage than other types of policies --ideal for growing families or growing businesses.
Other benefits of the FCSU's Yearly Renewable Term include:
The Yearly Renewable Term plan does have a $25 annual policy fee.
The FCSU's 10-Year Renewable Term life insurance is a way to achieve maximum insurance protection while keeping premiums low. The death benefit is level. Premiums are fixed and payable for ten years. Benefits may be renewed for successive 10-year periods, but not beyond age 75. Benefits may be converted to any permanent plan for the same or less insurance, with out evidence of insurability, to age 75. Issue ages are 16 through 65. Upon renewal at ages 66-74, the coverage goes only to age 75 and not for a full 10 years.
The 10-Year Renewable Term plan does have a $25 annual policy fee.
First Catholic Slovak Union’s “Twenty Year Term Insurance” is a Convertible Term Insurance Plan – the ideal, low cost path to MAXIUMUM PROTECTION for a MINIMUM CASH outlay. The plan provides protection against your untimely death ...
You have the right to convert your “Twenty Year Term Insurance” into any PERMANENT plan issued by the FCSU for the same or less insurance (except term insurance) without evidence of insurability before the end of 20 years, but not after age 75.
The death benefit is level for 20 years. Premiums are level and payable for twenty years. Benefits may not be renewed after 20 years; a new application must be submitted to apply for additional term coverage. Issue ages are 16 through age 80.
A wavier of premium benefit is available for issue ages 16-55. The Waiver Benefit waives premiums for 20 years. If disability exists at the end of 20 years, conversion is automatically to an Ordianry Life policy with the Ordinary Life premiums waived during continued disability.
The Accidental Death Benefit (ADB) is available for issue at ages 0-65, but not beyond age 70.
The Twenty Year Level Term plan does have a $25 annual policy fee.