Life Insurance
Life insurance provides money, known as a death benefit, to those you leave behind. In the event of your death, it helps your family maintain their lifestyle and future goals, like sending your children to college. It can also pay for final expenses, pay off debts, or even be left to your favorite charity.
You can protect your family and their lifestyle from the unexpected with a life insurance certificate from Luso-American. Our life insurance products are designed to meet your changing needs and can provide a solid financial base for you and your family.
Whole Life Insurance
Whole Life insurance, also known as permanent life, forms the basis of most individuals’ life insurance programs. Permanent life insurance can provide lifelong protection with guaranteed premiums and cash value with these features:
- Tax-deferred growth at competitive interest rates
- Cash accumulation
- Lifetime protection at level premiums
- Easy access to your money through policy loans or withdrawals
Single Premium Plan
This single premium whole life insurance policy provides lifetime protection with only one premium payment. This product offers an opportunity to transfer wealth to multiple generations, such as for spouse and children. With the Luso Single Premium Life Plan, you can immediately increase your estate, provide your beneficiaries with an inheritance that is not subject to Federal income taxes, and ensure that your beneficiaries will receive a guaranteed death benefit.
Product specifications:
Issue Age: 0 to 85
Minimum Issue: $10,000
Only offered in California and Massachusetts, Premiums may vary per state
10 Pay Life
A 10 Pay Life (Limited Payment Whole Life) policy gives you permanent life-insurance protection, fixed premiums, and cash values for just 10 years of fixed payments. One of the advantages of buying this type of insurance is that you pay for 10 years and never have to pay another premium. The policy remains in force. The death benefit remains level for the duration of the policy. The death benefit is paid to your beneficiary in the event of your passing.
Product specifications:
Issue Age: 0 to 80
Minimum Issue: $25,000
20 Pay Life
A 20 Pay Life (Limited Payment Whole Life) policy gives you permanent life-insurance protection, fixed premiums, and cash values for just 20 years of fixed payments. With 20 Payment Life, you make premium payments for 20 years, and then you never have to worry about paying for life-insurance protection again. Paying for life-insurance protection during your working years is a great way to ease worries about your family’s financial future. There’s great peace of mind in knowing that your family’s financial needs mortgage payments, tuition bills, and other expenses will be covered in the event of your passing.
Product specifications:
Issue Age: 0 to 80
Minimum Issue: $25,000
Simplified Issue
Simplified Issue is a whole life insurance product that will have guaranteed premiums, death benefits and cash value. This product does not require any medical exams. It is a quick and easy application which included five medical questions. *Product only offered in California and Idaho.
Product specifications:
Issue Age: 45 to 85
Minimum Issue: $5,000 to $25,000
Final Expense
A Final Expense Plan is a small life insurance policy with death benefits ranging from $10,000 to $25,000 face amount that is designed to, at the very least, cover a client’s funeral expenses. The Final Expense Plan can be funded through traditional insurance plans (i.e., 10-PAY, 20-PAY or Single Premium).
Product specifications:
Minimum age: 50 years old
Minimum Issue: $10,000
** Luso-American Financial or its agents do not offer tax advice, please consult your tax advisor for information specific to your situation. **
Term Life Insurance
Term life insurance provides coverage for a specified period of time or term. It is ideal choice for those who need protection for a fixed period of time or do not have the financial resources to buy permanent life insurance.
Term Life Insurance
LUSO Term
A term insurance plan that covers you for a specific time, usually from 1 to 30 years. These plans generally provide the most insurance protection for the premium dollar. Death benefits are payable only if you die during the term period.
Product specifications:
10-Year Term: 20 to 70 Certificates are renewable annually for 10 years. Premiums remain level for the entire 10 years.
15-Year Tern: 20 to 65 Certificates are renewable annually for 15 years. Premiums remain level for the entire 15 years.
20-Year Term: 20 to 60 Certificates are renewable annually for 20 years. Premiums remain level for the entire 20 years.
30-Year Term: 20 to 50 Certificates are renewable annually for 30 years. Premiums remain level for the entire 30 years.
Minimum Issue: $50,000
** Luso-American Financial or its agents do not offer tax advice, please consult your tax advisor for information specific to your situation. **
