Custom TermGUL®
Get permanent and affordable death benefit protection with North American Company's Custom TermGUL, a universal life insurance product that may fit into your budget.
Product Highlights:
- Low-cost death benefit protection available on either a current basis or a guaranteed basis (through the Premium Guarantee Rider)
- Access to your cash value through withdrawals and policy loans, including Net Zero-Cost Loans in policy years 11 and later.1 An Interest Bonus to help build long-term cash values for future financial needs.2
- Access to a portion of the Death Benefit to help cover the cost of a chronic or terminal illness
The Custom TermGUL's is a great way to provide affordable Death Benefit protection or provide great long-term cash value growth.
Download the brochure for more details, or call your North American representative today.
1 Net zero cost loans are charged and credited at 2.5% for a net zero cost in years 11+. Policy loans from life insurance policies are generally not subject to income tax, provided the contract is not a Modified Endowment contract. A policy loan or withdrawal from a policy that is a Modified Endowment Contract is taxable upon receipt to the extent cash value of the contract exceeds premiums paid. Policy loans and withdrawals will reduce the cash value and death benefit. Neither North American Company nor its agents provide tax or legal advice. Please consult your legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.
2 If we are crediting interest in excess of the guaranteed interest rate and your policy is in effect after the 10th policy anniversary, your policy will receive an Interest Bonus. The Interest Bonus is 1.0% above the then current interest rate in the 11th year and thereafter. The Interest bonus is not applied to loaned funds. Not available in Texas.
Custom TermGUL is issued on policy form series LS167; Chronic Illness Accelerated Benefit Rider is issued on form series LR450A; Accelerated Benefit Endorsement is issued on form series LR352A or state variation by North American Company for Life and Health Insurance, Executive Office, Chicago, IL 60607. Product, features, riders, endorsements or issue ages may not be available in all jurisdictions. Limitations and restrictions may apply.
Life insurance policies have terms under which the policy may be continued in force or discontinued. Current cost of insurance and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. For costs and complete details, contact North American Company at (877) 872-0757.