TEXAS LEGACY BUILDER
The Texas Legacy Builder is a powerful tool that provides your family financial security and protection today while building a financial legacy for tomorrow. The Texas Legacy Builder is an individual life insurance policy that provides insurance protection while providing living benefits through an annuity rider.
BENEFITS OF THE TEXAS LEGACY BUILDER
Guaranteed Savings Plan
Tax-Deferred Growth
Creditor Proof
Insurance Protection
Borrowing Power
Avoids Probate
Increased Assets
Liquidity
Control of Living Benefits
Cash Accumulation Through Multiple Generations
Issue Age - 14 days through 20 years of age
GUARANTEED SAVINGS PLAN
The Texas Legacy Builder will accumulate cash through a guaranteed annuity rider. The board of directors will determine the interest rate based on interest earnings above the guaranteed requirements and investment expenses, mortality savings, and lapses and surrenders. The annuity rider has a lifetime guaranteed minimum interest rate of 3%. In years 2-10, half of your premium will begin to fund your annuity growth fund. After the tenth year, 100% of your premium deposit will be added to your annuity growth fund. These earnings will grow tax deferred and can provide for future retirement, education, or emergency needs.
TAX-DEFERRED GROWTH*
Tax-Deferral is a powerful tool used to accumulate cash. You will not pay any taxes on your earnings until you withdraw your funds. This allows you to accumulate interest earnings that may have otherwise been reduced by taxes every year. When withdrawing funds during retirement years, you or your loved ones may be able to reduce the amount of taxes paid on the interest earnings accumulated by being in a lower tax bracket.
CREDITOR PROOF
In most states, funds received by the beneficiary may be exempt from attachment by creditors.
INSURANCE PROTECTION
The Texas Legacy Builder provides insurance protection on the named insured. The death benefit is designed to provide your family with peace of mind in the event of any unexpected circumstances. The death benefit is paid directly to the named beneficiary and is 100% tax free. The life insurance portion of this policy is paid up after the tenth year. This provides your loved ones with guaranteed life insurance protection for life. By placing life insurance protection on the youngest and healthiest members of the family, you can guarantee that they have fully paid up protection in place when they get older.
BORROWING POWER
You can borrow money from the Texas Legacy Builder at any time. The life insurance portion of the Texas Legacy Builder builds cash value. You can borrow money against the cash value of the life insurance policy.
AVOIDS PROBATE
In the event, the Insured dies during the accumulation period, the beneficiary will receive the greater of either 100% of all payments, less any withdrawals, or the full value of the contract without being probated.
INCREASE ASSETS
As you live, you will accumulate cash through the guaranteed annuity rider. The owner of the annuity will increase their assets as the annuity grows and as they make additional deposits. The owner of the annuity has the right to use this cash accumulation for their own retirement or they can pass the money down to their loved ones.
LIQUIDITY*
You may withdraw 100% of your cash value at any time. This plan is designed to give you access to your money if the need arises. Annual withdraws are also available to you penalty free.
CONTROL OF LIVING BENEFITS
The owner of the policy remains in control of the cash accumulation in the policy and has the ability to change beneficiaries at any time. The owner can change the control of the policy at anytime they choose.
CASH ACCUMULATION THROUGH MULTIPLE GENERATIONS
The Texas Legacy Builder is designed to allow your family to accumulate cash through multiple generations, building a legacy for many years to come. By placing the insurance portion of the contract on the youngest members of the family it allows the Texas Legacy Builder to build cash through multiple generations. Since the contract stays in force as long as the named insured lives, placing the insurance portion of the contract on the youngest members of your family will allow you to accumulate tax-deferred cash and benefit multiple generations to come.
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