Slovak Catholic Sokol - A tradition of providing sound financial protection and benefits to our members.
 

Life Insurance

THE LEGACY COLLECTION OF LIFE INSURANCE PROTECTION

The Slovak Catholic Sokol Collection of Life Insurance plans provides you with the
certainty of a guaranteed amount of death benefit. Our Permanent plans also add the
guaranteed rate of return on your cash values and a level premium that is guaranteed
to never increase for life.

Permanent Plans:

Term Plans:


LEGACY LIFE

Legacy Life is an Ordinary Whole Life which offers the greatest amount protection for the smallest premium
  • Issue age 0 - 80.
  • $5,000 minimum coverage offered.
  • While premiums are payable for life, you may stop your payments early (for example, at retirement) and elect a reduced benefit that is fully paid-up.
  • When purchased at an earlier age, the Legacy Life certificate creates a substantial - and guaranteed - cash accumulation in later years.
  • The guaranteed cash accumulation can provide additional income during retirement.
  • Since the Legacy Life accumulates cash value the certificate’s cash reserves can be used for personal or family emergencies.
  • Premiums never go up; they remain constant as long as the certificate remains active.
  • Accidental Death Benefit and Waiver of Premium Riders are available with this plan.
  • Providing your certificate remains active the Insured is eligible to have access to the many Slovak Catholic Sokol Fraternal Benefits.
  • Dividends are available as declared, options include: Paid-up Additions, Cash and Left at Interest.

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LEGACY SINGLE PREMIUM

This plan provides a fully paid certificate at a great savings for the life of the certificate holder. It provides you with the certainty of a guaranteed amount of death benefit, and a guaranteed rate of return on your cash values. This plan is ideal for young people, and useful for adults that either prefers to have their life insurance prepaid or using for wealth transfer.
  • Issue ages are 0 - 90.
  • $5,000 minimum coverage offered.
  • A one-time premium payment and certificate is fully paid-up for life.
  • The guaranteed cash accumulation can provide additional income during retirement.
  • Since the Legacy Single Premium accumulates cash value the certificate’s cash reserves can be used for personal or family emergencies.
  • Providing your certificate remains active the Insured is eligible to have access to the many Slovak Catholic Sokol Fraternal Benefits.
  • Dividends are available as declared, options include: Paid-up Additions, Cash and Left at Interest.

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LEGACY 20

With our Legacy 20 life plan premiums are paid for 20 years. After 20 years, the policy is paid-up and will remain in force for the life of the certificate holder. Premiums for the 20 Pay Life plan are higher than for the ordinary life insurance plan, since the premium payments are condensed over a shorter period of time, but the cash value accumulates quicker than the ordinary whole life plan.
  • Issue ages are 0 - 80.
  • $5,000 minimum coverage offered.
  • The certificate is fully paid-up for life providing all premiums are made throughout the ten year period.
  • The guaranteed cash accumulation can provide additional income during retirement.
  • Since the Legacy 20 accumulates cash value the certificate’s cash reserves can be used for personal or family emergencies.
  • Providing your certificate remains active the Insured is eligible to have access to the numerous Slovak Catholic Sokol Fraternal Benefits.
  • Dividends are available as declared, options include: Paid-up Additions, Cash and Left at Interest.

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TERM TO 30

This plan designed specifically for the youth of our organization. It provides a very low‐cost level premium until the expiry date, which is the anniversary nearest the 30th birthday. The plan can be purchased only in amounts of $10,000, $25,000, and $50,000. At the expiry date, the insured has a guaranteed right to obtain new insurance on a permanent life plan, without proof or declaration.
  • Issue ages are 0 - 22.
  • $10,000 minimum coverage, $50,000 Maximum coverage offered.
  • Premium rates are fixed for entire length of certificate
  • Convertible to permanent life plan at Age 25 without proof of insurability

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10 YEAR TERM

The 10 Year Renewable Term life plan has a premium for ten (10) years. It provides you with the certainty of a guaranteed amount of death benefit.

The 10 Year Term is excellent low-cost life insurance protection for short-term needs.
At the expiry of the term, the plan can be renewed annually without proof or declaration of insurability, up to age 69, at a higher premium applicable to the attained age at the renewal date. This plan can be converted prior to the policy anniversary following the date that the Insured attains age 65 to a permanent life plan without proof or declaration of insurability. The face amount of the new certificate may be any amount not greater than that of the 10 Year Term Certificate.

  • Premium rates are fixed for the initial 10-year period
  • Convertible to permanent life plan to Age 65 without proof of insurability

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20 YEAR TERM

The 20 Year Renewable Term life plan has a premium for twenty (20) years. It provides you with the certainty of a guaranteed amount of death benefit. The 20 Year Term is excellent low-cost life insurance protection needs.

At the expiry of the term, the plan can be renewed annually without proof or declaration of insurability, up to age 65, at a higher premium applicable to the attained age at the renewal date. This plan can be converted prior to the policy anniversary following the date that the Insured attains age 65 to a permanent life plan without proof or declaration of insurability. The face amount of the new certificate may be any amount not greater than that of the 20 Year Term Certificate.

  • Premium rates are fixed for the initial 20-year period
  • Convertible to permanent life plan to Age 65 without proof of insurability

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Requirements & Qualifications:
  • Membership Qualifications
  • Insurance Q & A:
  • Why do I need to buy insurance?

    Life Insurance is a vital financial piece to any financial puzzle. It provides income when there is a loss of a main income provider's salary.

    The average household in the U.S.A. and Canada has no life insurance coverage, while other households have very little protection to secure their family in the event of an untimely death of a loved one. This lack of a financial safeguard could force a family to struggle to keep ends meet. The dreams of higher education and retirement are lost during a family's most difficult time.

    Insurance is a gift of loving and caring. When you die, your life insurance benefits can cover your lost income and pay expenses. It can even aid in carrying out your benevolent wishes.

    We all worry about our loved ones. If you were to die tomorrow, would your loved ones be financially stable? Would they be able to live comfortably? Stay in the same home? Continue their education? Could your spouse support your family's needs?

    Most of us answer "No" to any of one of these questions. If you need the comfort of knowing your family is secure, than its time to purchase life insurance.

    For more information, go to www.life-line.org.

  • Which type should I buy? Term or Permanent life?

    Choosing the right insurance is based on your needs for today and your plans for the future.

    • Term Insurance - Is usually the least expensive to purchase and provides temporary coverage. The Slovak Catholic Sokol offer term plans with level premium over the premium payment period.
    • Permanent Life - Gives you a guaranteed cash value besides giving you a guaranteed death benefit. The cash value can be a good income supplement when you retire. The premiums usually cost more but the amounts stay level. The Slovak Catholic Sokol offers 5 plans for your needs.
  • How much insurance do I really need?

    Its important not to be under insured, especially when you have loved one's to financially support. Its important to know what your financial plans are for you and your family.

    Is your family sheltered from financial losses when you die? You need to understand your fiscal impact you have on your family and what your family financial goals are for tomorrow. Your Authorized Slovak Catholic Sokol Agent or one of our Home Office Staff members can assist you in understanding how your financial planning can be complemented with one of our plans to fit your needs.

    Click to visit the Life-long.org Life calculator, http://www.lifehappens.org/life-insurance-needs-calculator

  • Who can I contact to help me with my insurance needs?

    Contact your Slovak Catholic Sokol Authorized Agent, Sales & Marketing Office at 888-381-5431 or the Home Office at 800-886-7656.

    To learn more about general life insurance information, go to www.lifehappens.org.

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