Products
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SINGLE PREMIUM PLAN provides the desired amount of life insurance with one premium payment. The certificate remains in full force and effect for the life of the insured without having to make any further premium payments after the initial single payment.
3 PAYMENT LIFE PLAN allows for premium payments to be made monthly, quarterly, semiannually, or annually with the certificate becoming fully paid at the end of three years. A minimum purchase of $5,000 is required, except for ages 71-85 where the minimum purchase is $2,000. 5 PAYMENT LIFE PLAN allows for premium payments to be made monthly, quarterly, semiannually, or annually with the certificate becoming fully paid at the end of five years. A minimum purchase of $5,000 is required, except for ages 71-80 where the minimum purchase is $2,000. 10 PAYMENT LIFE PLAN allows for premium payments to be made monthly, quarterly, semiannually, or annually with the certificate becoming fully paid at the end of ten years. A minimum purchase of $5,000 is required, except for ages 71-75 where the minimum purchase is $2,000. 15 PAYMENT LIFE PLAN allows for premium payments to be made monthly, quarterly, semiannually, or annually with the certificate becoming fully paid at the end of fifteen years. A minimum purchase of $5,000 is required. 20 PAYMENT LIFE PLAN allows for premium payments to be made monthly, quarterly, semiannually, or annually with the certificate becoming fully paid at the end of twenty years. WHOLE LIFE PLAN offers insurance protection with the premium payments which are paid during the life of the insured. Premium payments to be made monthly, quarterly, semiannually, or annually. |
20 YEAR ENDOWMENT PLAN is a modification of whole life insurance. Premiums can be made monthly, quarterly, semiannually, or annually, with the certificate maturing in twenty years. The face amount of insurance is in force for twenty years. At the certificate's maturity, the insured has the following choices:
JUVENILE ESTATE TERM (or Term to 25) is term insurance for anyone under 22 years of age. Term life insurance provides coverage for a specified period of time (or term). The certificate matures on the certificate anniversary date nearest the insured's 25th birthday. At maturity, a non-cash conversion credit is calculated and applied toward the premium of a NEW permanent life insurance plan, regardless of the insured's health. FLEXIBLE ANNUITY is a long-term investment wherein the interest earned accumulates and is compounded. Annuities are used to supplement retirement income whereby, at some point, you stop paying into the annuity and start withdrawing from it. The LPSCU Flexible Annuity is a flexible premium, deferred annuity that accepts ongoing deposits of as little as $100 per month. Our competitive interest rate is reviewed quarterly by the Board of Directors; however, your rate will never go below the guaranteed minimum rate established by the annuity contract. The LPSCU offers a guaranteed six-year penalty (6%, 5%, 4%, 3%, 2%, 1%). Upon maturity, LPSCU offers a number of distribution options, giving our members the convenience of selecting the one best suited to their needs and circumstances. |
LIFE INSURANCE RIDERS
ACCIDENTAL DEATH BENEFIT can be attached to the Whole Life Plan and the 10, 15, and 20 Payment Life Plans, including the 20 Year Endowment, where the age of the insured is age 0 to 55. Premiums are payable to age 70 or to the end of the premium-paying period, if earlier. Benefits are in-force until age 70. If the death of the member while the rider is in-force is by accident, then the face amount of the rider is paid in addition to the face amount of the Life Plan. WAIVER OF PREMIUM can be attached to the Whole Life Plan and the 10, 15, and 20 Payment Life Plans, including the 20 Year Endowment, where the age of the insured is age 16 to 55. Premiums are payable to age 65 or to the end of the premium-paying period, if earlier. If the member is disabled while this rider is in-force prior to age 65, then the premium on the Life Plan is waived during the period of disability (even after age 65). PAYOR DEATH OR DISABILITY WAIVER OF PREMIUM can be attached to the Whole Life Plan and the 10, 15, and 20 Payment Life Plans, including the 20 Year Endowment. The rider is attached to a juvenile member's Life Plan, and covers the premium on that Life Plan if the Payor (applicant) dies or becomes disabled. premiums are payable until the earliest of:
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