OOIDA Medical Benefits Group

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Universal Life

Not just another
life insurance policy.

Universal Life Insurance is an excellent way of providing you and your family with the peace of mind that only insurance can provide. This is permanent insurance with flexible premiums and face amounts.

As your family's needs change, you can adjust the policy's face amount within certain limits after the first year. Increases in face amount may require evidence of insurability.


Universal Life Provides
premimum flexibility. competitive interest rates on your account balance. tax-deferred interest accumulation. a benefit for your family that is usually tax-exempt. additional benefits for accidental death.
Flexible Premiums
You may choose to skip a premium payment or make more than one payment at a time. As long as you maintain an account value large enough to cover monthly charges, you can tailor your premium payments to fit your cash flow.
Tax Deferred Interest Accumulation
Interest credited on your account balance is not taxable as it accumulates.
Competitive Interest
The premiums you pay that are more than the policy's monthly charges are credited to your account balance. The company credits interest each month on the balance of your account. The interest varies according to economic conditions and the size of your account balance, but is guaranteed never to fall below 3%. Ask us about current interest rates.
Death Benefit
You have a choice of two death benefits: face amount only face amount plus account value
Surrender Charges
There are surrender charges if you cancel your policy within 15 years.
Monthly Charges
The company's monthly expenses for administering the policy, processing premiums, and the cost of insurance (mortality charges) are deducted from the account value each month. Cost of insurance each month is based on your current age and the amount of insurance protection, minus the amount in your account balance. The higher your account balance, the more you earn in interest and the less you are charged.
Optional Coverages
ACCIDENTAL DEATH may be added to increase the death benefit if you die as the result of a covered accident. WAIVER OF DEDUCTION FOR DISABILITY is available and waives the premium if you are totally disabled for six months or more. Premium paid during that six month period will be credited back to your account value.
Tax Exempt Benefits
Generally your heirs are not required to pay any taxes on benefits received upon your death. Please see your own tax advisor.
Periodic Reports
Because so many aspects of a universal life insurance policy change over the course of a year, we will send each policy owner an annual report giving the policy's current values and benefits. This report includes the following types of information: Death benefit Policy's account value Surrender value if different from account value Interest earned Mortality charges Expense charges Premiums paid during the reporting period Policy loans outstanding Account withdrawals You may also request a statement of account value at any time.
Contact the OOIDA Medical Benefits Group at (800) 715-9369 for more information and a quote on this or any of the medical benefits available.
The policy and certificate forms numbers are GP-UL (01-06) and GC-UL (01-06). Underwritten by: American Underwriters Life Insurance Company, Phoenix, Arizona Administrative Offices, P.O. Box 9510, Wichita, Kansas 67277 This brochure is only an outline of the coverages and conditions of coverage. You must see the actual policy or certificate for all of the terms, conditions, and exclusions that are applicable. Rev. 6/06