September 3, 2019
WoodmenLife recently launched a new product, My Choice Indexed Universal Life (IUL), offering protection for families while securing their financial futures. This flexible life insurance product has the potential to build cash value that can be accessed when it’s needed most. The product can be right for families in all stages of life -- including just starting their family, in the midst of their career wanting to save for the future, or enjoying their retirement and wanting to leave a legacy.
My Choice IUL™ is a life insurance product that provides permanent coverage while offering the opportunity to grow cash value over time through two types of accounts or a combination of both. The indexed account is linked to the performance of the S&P 500® Index1 (excluding dividends) over a specific time period, up to a maximum cap rate. The fixed account earns interest at a competitive, current interest rate that will never be lower than the minimum guaranteed interest rate, allowing the consumer to be as conservative as they choose.
With the purchase of My Choice IUL, consumers also gain access to member extras including the ability to apply for the WoodmenLife Focus Forward Scholarship®. Since the scholarship program’s launch in 2017, the organization has awarded nearly 2,500 scholarships worth more than $1.4 million.
WoodmenLife President & CEO Patrick L. Dees said, “After much anticipation, I’m proud to spearhead the launch of such a game changer. There are many indexed universal life products on the market, but few were built with this kind of simplicity in mind. With just two account options, consumers can choose to grow their funds in either one or a combination of both.”
The fixed account offers the opportunity for steady, stable growth. The indexed account offers a guaranteed 0% floor, which is backed by the claims-paying ability of WoodmenLife. This means that consumers will not lose cash value because of market-based losses.
For more information about WoodmenLife’s newest product, visit WoodmenLife.org/MyChoice.
The "S&P 500®" is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (“SPDJI”), and has been licensed for use by Woodmen of the World Life Insurance Society (“WoodmenLife”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). It is not possible to invest directly in an index. WoodmenLife’s flexible premium adjustable indexed life insurance certificate (the “Certificate”) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the Certificate or any member of the public regarding the advisability of investing in securities generally or in this certificate particularly or the ability of the S&P 500® to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices’ only relationship to WoodmenLife with respect to the S&P 500® is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500® is determined, composed and calculated by S&P Dow Jones Indices without regard to WoodmenLife or the Certificate. S&P Dow Jones Indices has no obligation to take the needs of WoodmenLife or the owners of the Certificate into consideration in determining, composing or calculating the S&P 500®. S&P Dow Jones Indices is not responsible for and has not participated in the determination of the prices, and amount of the Certificate or the timing of the issuance or sale of the Certificate or in the determination or calculation of the equation by which the Certificate is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of the Certificate. There is no assurance that the Certificate based on the S&P 500® will accurately track index performance or provide positive returns. S&P Dow Jones Indices LLC is not an investment or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios products and the tax consequences of making any particular purchase decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.
S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500® OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY WOODMENLIFE, OWNERS OF THE CERTIFICATE, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500® OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND WOODMENLIFE, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.
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