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 Cheapest Life Insurance USA

GenAmerica Financial - Life Insurance

About GenAmerica Financial

The GenAmerica Financial family of financial services companies markets a competitive portfolio of individual life insurance, annuity contracts, securities, and related financial services to individuals and business through multiple distribution channels.

GenAmerica Financial - Life Insurance Products

The two basic types of individual life products offered through General American Life Insurance Company are permanent insurance (including variable universal life, universal life, joint survivor life and whole life) and term insurance. Permanent plans are designed to provide insurance protection for a lifetime, paid for through level, limited or flexible premiums. Term insurance provides coverage for a specified length of time, such as one, ten, or 20 years, at a level annual premium. Term policies give the owner the option to renew the coverage (for a higher premium) at the end of the specified term.

Permanent life products

GenAmerica Financial's permanent life portfolio subdivides into three categories of policies: variable universal life, universal life and traditional whole life.

General American markets variable universal life (VUL) products, which feature the flexibility of universal life plus self-directed investing of the net premiums by the policyowner. The lead products are Variable Universal Life (VUL2000) and Joint Survivor Variable Universal Life (JSVUL2000), the new American Vision product series. VUL2000 and JSVUL2000 each offer 36 different investment subaccounts for cash value accumulation. The subaccounts invest in everything from equity securities, bonds, and the money market to international equities, balanced funds, and even "hard assets" (e.g. precious metals and real estate). The investments are managed by well-respected money managers.

General American's VUL2000 and JSVUL2000 can provide a powerful platform for reaching your objectives in estate planning, wealth accumulation, business continuation and retirement planning.

General American VUL policies are underwritten by Walnut Street Securities, Inc. (WSS), which is a Member of the National Association of Securities Dealers and the Securities Investor Protection Corporation. WSS is a wholly-owned subsidiary of GenAmerica Financial Corporation.

For complete details on GenAmerica Financial's VUL products, including charges and expenses, please refer to the appropriate product prospectus and fund prospectus (available through a registered representative of WSS) and read them carefully before you invest.

GenAmerica Financial's universal life product has expanded in recent years to include Joint Survivor Life for estate planning needs along with their versatile Universal Life-100. These products feature flexible premiums and coverage amounts, current interest earnings, interest rate guarantees of 4.5 to 5 percent, and options for withdrawing cash values. A selection of riders also is available.

The flagship of GenAmerica Financial's traditional whole life series is Whole Life to Age 100 (WL-100). It is highly competitive on the basis of cash value buildup and death benefits per dollar of premium, and is available for issues ages from birth to age 90. In addition, they offer policy riders to enhance coverage in various ways. With different combinations of riders, a policyowner can:

• Maximize death benefits or cash values per dollar of premium
• Have premiums waived if he or she becomes totally disabled
• Add a large initial premium in the first year of the policy
• Guarantee insurability for future increases in coverage
• Guarantee coverage and the option for additional insurance on the survivor when the "first death" occurs in a joint life policy

Term life products

Term life insurance is ideal when insurance protection is needed only for a limited period (such as to cover a mortgage or other loan) or when a person needs coverage at the lowest available premium rates. GenAmerica Financial's term portfolio includes two "level term" plans for more extended coverage periods.

Level Term for 10 Years (LT-10) and Level Term for 20 Years (LT-20) provide coverage for 10 years and 20 years, respectively, at a guaranteed level annual premium, with premiums increasing upon renewal. Both have a minimum policy size of $100,000.

Each of the two term policies can be converted to a permanent insurance plan without evidence of insurability.

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