United Benefit Group is dedicated to product innovation and meeting the needs of individuals, businesses, and families through all stages of life. We focus our recourses on providing you with life insurance and annuity solutions specifically to meet your needs.
Final Expense Life Insurance
Many people wonder where will the money come from and how much will be needed. Expenses can include the cost of a funeral, but also the unanticipated charges such as medical costs not covered by your health insurance, other unpaid bills and even state and federal taxes. Funeral costs alone can be as much as $10,000 or even more depending on where you live and your personal preferences.
Social Security only pays a onetime death benefit of $255.00 to the surviving spouse or dependent children of an insured participant. Life insurance can make some hard choices easier by making funds available just when they are needed. Through thoughtful planning today, you can help relieve the ones left behind of the worry of how to fund these final expenses.
Our plans are issued on a simplified issue basis that involves a short application without additional medical requirements or exams. Each plan creates cash value that is accessible by policy loans (loans reduce the death proceeds), allows easy premium payment through bank draft or billings, and can never be cancelled except for nonpayment of premium. We also have plans that ask absolutely no health questions, guaranteeing your insurability regardless of your health history.
Permanent life insurance designed with the person in mind who has found it difficult or impossible to obtain life insurance in the past because of poor health or advancing age.
Protection when you’re Family needs it most…
Decisions at the time of a loved one’s death are some of the most difficult a family will ever be forced to make.
Term Life Insurance
United Benefit Group offers a variety of term life insurance products through “A” rated companies that focus on the "family market." Whether your need is Family Protection or Mortgage Protection, Family Life can provide coverage on dad, mom and children in the same policy.
United Benefit Group’s term insurance products are available on a simplified issue basis for face amounts less than $250,000 and a fully underwritten basis up to $3,000,000. For fully underwritten products, both standard and preferred underwriting classes are available.
What is an Annuity?
A fixed annuity is a financial contract between you and an insurance company with guaranteed interest and guaranteed annuity income options. There are no upfront fees or administrative fees during the life of your contract.
Benefits of an Annuity
Annuities are an excellent tool to help you plan for your financial security. They offer a variety of benefits including tax-deferred growth, ability to avoid probate, lifetime income options and stability.
Tax-Deferred Growth: One of the many advantages of deferred annuities is the opportunity to accumulate a substantial sum of money by allowing your premium and interest to grow tax-deferred. Interest earned on your annuity is not currently taxable by the state or federal government until you choose to withdraw money from your annuity. This is the key difference between an annuity and other taxable financial vehicles. A 5% return may sound good initially, but if you are in a taxable vehicle with a combined 27% tax bracket, the actual return is 3.65%. Combine this with an average inflation rate of 4%, and what have you truly gained? That’s right …nothing!
With that in mind, consider the many advantages of an annuity, including triple compounding! With annuities you earn interest on your principal, interest on your interest, and interest on what you would normally pay in taxes. You will not pay income taxes on annuity interest until you withdraw it from your annuity. You’re in control when you pay income taxes!
May Avoid Probate: Annuities offer the ability to name a specific beneficiary, which may minimize the expense, delays, and publicity that comes with probate and maintain privacy. Your named beneficiary may receive death proceeds as either a lump sum or monthly income.
Income options: You not only have the flexibility to choose when you begin withdrawals, but the flexibility to choose how:
As a lump sum distribution, less withdrawal charges;
As an income for a specific number of years;
As an income for as long as you or your spouse live, your annuity can provide you with a guaranteed income stream. You have the ability to choose from several different income options, including life or a specific period. With non-qualified plans, a portion of each income payment represents a return of premium that is not taxable, reducing your tax liabilities.
< > Your tax deferred annuity is a stable investment. State insurance department laws require that insurance companies establish and maintain reserves equal to the cash surrender value of you annuity contract at all times. In addition, state laws require we maintain minimum amounts of capital and surplus for further contract owner protection.
Traditional Fixed Annuity: Offers a declared fixed interest rate that is guaranteed for a specific period and guaranteed to never go below a specific percentage.
Equity-Indexed Annuities (EIAs): EIAs have interest rates that are linked in part to growth in the equity market as measured by an index such as the S&P 500®. The EIA owner enjoys the upside potential of equities, but is not exposed to downside risk. Subject to fixed minimum guarantees, the value of an EIA can only increase due to index growth it will never decline due to index movement.
Immediate Annuity: You are guaranteed an income stream ranging from a specific period of time to your entire life. An immediate annuity offers a solution to the problem of outliving your money.
Variable Annuity: Offers you the potential for high returns. When you purchase a Variable Annuity with Midland National you have the ability to choose from a variety of well-known funds using a variety of investment strategies.
*Variable annuities are suitable for long-term investing, such as retirement investing, and are subject to market risk.
Is an annuity the right investment for me?
You’re nearing retirement age or have already retired.
You need to replace income from your regular paycheck.
You want the peace of mind that your investment won’t decline in value.
You want an alternative to a certificate of deposit.
You want to build money tax deferred to use at a later date.
You have non-qualified funds to invest in a financial product.