Oxford Life Insurance is permanent whole life insurance that guarantees a certain amount of money will be passed on to your chosen heirs at death. By funding a single-premium life policy, you will create an increased tax-free death benefit, immediately increasing the value of your estate.
Oxford Life provides an opportunity for you to pass on a legacy. This policy allows your heirs to pay off debt, fund college tuition, or fund their retirement. Alternatively, you can leave your death benefit to a charity, church or philanthropic organization, benefiting future generations.
Guaranteed Death Benefit
When an Oxford Life Insurance policy is funded, a death benefit is determined at the time the policy is issued, which is guaranteed to never decrease. No additional payments are needed to maintain the policy.
Tax-Free Transfer of Wealth
The Oxford Life death benefit will pass tax-free to your beneficiary, avoiding probate costs.
In the case of sickness, up to 75% of the policy’s death benefit can be received before death when certain conditions are met.
Access to Cash
In case of an emergency, funds can be withdrawn with a loan on the policy.
Who Can Benefit from Prosperity Select
- Those who have money set aside that they intend to pass on to family, a favorite charity, or religious organization with no tax or probate consequences
- Those who wish to pay for funeral expenses through the purchase of life insurance
- Those who are looking to eliminate stock market risk or recover losses on stocks or mutual funds suffered in a stock market crash
- Those who have excess money in various savings options such as a savings account, money market fund, or a CD and would like to immediately increase the value of their estate
OXFORD LIFE INSURANCE POLICY BENEFITS
100% Guaranteed Return of Premium
Your single premium payment is guaranteed from day one. In the unlikely event you surrender your policy, you are guaranteed to receive at least 100% of your initial premium back, less any indebtedness, less any withdrawals and less any Accelerated Benefits paid out.
Terminal Illness Benefit
If you are diagnosed as terminally ill (defined as having a life expectancy of fewer than 12 months), then you are eligible to receive the terminal illness benefit. The terminal illness benefit can be any amount up to 75% of your death benefit, not to exceed $100,000.
Nursing Home Benefit
(Not Available in CA and FL)
If you are confined to a nursing home and are expected to remain there for the rest of your life, you are eligible for a monthly benefit determined by the number of years the policy has been in effect prior to the benefit claim.
If the policy has been in force LESS THAN 5 YEARS… The monthly benefit is equal to 1% of the death benefit (subject to a maximum of $4,000 per month).
If the policy has been in force 5 YEARS OR LONGER… The monthly benefit is equal to 3% of the death benefit (subject to a maximum of $4,000 per month).
Chronic Illness Benefit
(Not Available in CA, FL)
If you have a chronic illness, you are eligible to receive a monthly benefit equal to 1% of the death benefit (subject to a maximum of $2,000).
Home Health Care Benefit
(Available only in DE, DC, ND)
If you are diagnosed as having a chronic illness and have been receiving home health care for a period of 90 consecutive days or more, you are eligible to receive a monthly benefit of 1% of the death benefit (subject to a maximum of $2,000 per month).
NOTE: The Accelerated Benefits provided in the Oxford Life Prosperity Select Whole Life Insurance policy are not long-term care insurance. Death benefits, cash values, and loan values will be reduced upon payment of an accelerated benefit. The accelerated benefits payable under this policy are intended to conform to Internal Revenue Code of 1986 and are usually tax-free. However, accelerated benefit payments may be taxable by your state. You should consult a qualified tax advisor for specific information.
Receipt of an accelerated death benefit payment may adversely affect you, your spouse, or your family’s eligibility for public assistance programs.
About Oxford Life
Oxford Life Insurance Company was founded in the Grand Canyon state of Arizona in 1965 and is committed to providing value-enhanced financial products that meet the needs and promote the financial security of seniors. We understand that saving our policyholders’ time and money differentiates us from other insurance carriers. We value your business and look forward to providing you with the best service in the industry.
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