Puritan Life Insurance Company of America (Puritan) can help you protect your assets and leave a legacy for those who are most important to you.
The Puritan Estate Guardian (Estate Guardian) is a single premium, joint whole life insurance policy. This type of policy may be right for you if you want to:
Since the Estate Guardian is a whole life insurance policy it also provides you with additional benefits including:
Puritan is a company that you can trust to help you achieve your financial goals and provide for your future income needs. Puritan was established in 1958 and is proud of its long history of providing financial solutions for clients, beginning in their peak earning years and continuing through retirement. Puritan is experienced in what is most important to you as you grow into the next stage of your life.
The Estate Guardian is designed to provide you with access to your funds when you need them the most through an accelerated death benefit, the exercise of a partial withdrawal, or a policy loan.
As the American population ages it has become more and more apparent many of us will have a medical condition or illness that could have a significant impact on our normal lifestyle. About 7 out of 10 people age 65 or older will need long-term care at some point in their lives in order to allow them to perform their normal activities of daily living.* Long-term care costs can be expensive and deplete savings quickly. With that in mind, the Estate Guardian includes the option to accelerate your death benefit at no additional cost to you. The benefit is available to the surviving insured after the death of the first insured. If you use this benefit, you have the potential to access 80% of your face amount (with a maximum of $250,000) while living, if you should experience a qualifying terminal, chronic, or critical illness. (See your contract for specifications.)
If you need access to your funds for any reason, you are permitted to take a partial withdrawal of your cash value each policy year according to the following scale (partial withdrawals reduce the death benefit on a proportional basis):
|Maximum Yearly Partial Withdrawal Percentage|
The Estate Guardian is a whole life policy, meaning that cash value is building in your policy. You can access this cash value through a policy loan any time after your contract is issued. Any unpaid policy loans and policy loan interest will be deducted from your death benefit. Prior to exercising any of these options, you should consult your tax advisor or a legal professional to determine which option is best for you.