CHECK OUR RATES
Our Tax Deferred annuities can
put more in YOUR pocket.
Earn more for YOU!
HAVE A QUESTION?
Get help by chatting with one of our representatives.
AGENT INFO
CHURCH LINKS
Links to churches in the area. To find a church site click here.
BRANCH UPDATES
Select a Branch to get Information and News.
VIRTUAL BRANCH
Life Insurance
One of the primary purposes of Western Catholic Union is to provide affordable life insurance protection for members and their families. You do not have to be a member to purchase our products, but the purchase of protection will automatically make you a member of our Society as no extra cost to you.
Western Catholic Union has three types of life insurance protection for their members: permanent life insurance, term insurance and single premium whole life insurance.
Just as the cost of renting an apartment usually increases each year, so does the cost of purchasing term insurance that covers you for a specified period of time. The reason for this increase is simple. As you grow older the number of years you will remain living decreases, so the cost of term insurance increases. With permanent insurance, premiums begin higher than term but you save money in the long run, and this will make future planning easier with a predictable level cost.
Permanent Life Insurance gives you confidence:
*Premiums that never increase *Tax Advantages
*Death Benefit *Growth in your cash value
*Access to your cash value
Meet your needs with WCU Whole Life:
*Family coverage *Retirement income funding
*Savings for college education *Estate planning
*Wealth accumulation *Charitable giving
Funding for Business Planning Needs:
*Buy Sell Agreements *Split Dollar arrangements
*Key Person coverage *Executive bonus
*Deferred compensation
***NEW TERM PRODUCTS WILL BE POSTED WHEN AVAILABLE ***
This page is currently being updated
Western Catholic Union's Whole Life
Whole Life Builds Equity for you -
Just as home ownership allows you to build up equity; you can build up equity in WCU's Whole Life Certificate in the form of cash value. Your cash value works for you by growing at a guaranteed rate year after year. You will know in advance the guaranteed cash value accumulation and have the peace of mind that is not subject to the fluctuations in interest rates. Should you need it, you have the ability to access your cash value by taking out a low-interest certificate loan.
Best of all, the increases in your cash value accumulate tax-deferred. You'll never pay taxes on this tax-deferred growth unless you take out more cash value than you have paid in premiums. In addition to these advantages, the proceeds of the certificate generally pass income tax free to the beneficiary your select.
Western Catholic Union's 10 Pay Life
Just like Whole Life, insurance protection is provided for your lifetime even though premium payments are made for only 10 years. Not all riders may be added to this plan. Eligible riders will terminate at the end of 10 years. This policy also has a cash value accumulation which is available to you. Should you need it, you have the ability to access your cash value by taking out a low interest certificate loan.
Like Whole Life, the increases in your cash value accumulate tax-deferred. You'll never pay taxes on this tax-deferred growth unless you take out more cash value than you have paid in premiums. In addition to these advantages, the proceeds of the certificate generally pass income tax free to the beneficiary you select.
Western Catholic Union's 20 Pay Life
Just like Whole Life, insurance protection is provided for your lifetime even though premium payments are made for only 20 years. Not all riders may be added to this plan. Eligible riders will terminate at the end of 20 years. This policy also has a cash value accumulation which is available to you. Should you need it, you have the ability to access your cash value by taking out a low interest certificate loan.
Like Whole Life, the increases in your cash value accumulate tax-deferred. You'll never pay taxes on this tax-deferred growth unless you take out more cash value than you have paid in premiums. In addition to these advantages, the proceeds of the certificate generally pass income tax free to the beneficiary you select.
Western Catholic Union's Single Premium Whole Life
Do you have a CD?
Do you have an annuity?
Do you have a mutual fund?
Are you tired of the market swings?
Would you like to earn more on your money?
Would you like to have your estate paid to your heir's tax free?
If you have answered "Yes" to any of these questions, then this single premium life plan is the one for you. Only one premium is paid during the lifetime of the insured. The coverage is fully paid-up for life.
FEATURES:
- Only one premium payment
- Certificate is fully paid-up for life
- Gain high cash values
- Cash values increase annually
In addition to receiving outstanding insurance protection, the member will also be able to enjoy the various fraternal activities sponsored by the Western Catholic Union.
TAX BENEFITS - AN ADDED PLUS*
You can make the most of your funds with these tax advantages under the current tax law:
- Your cash value will accumulate on a tax-deferred basis as long as your certificate is in force.
- Your certificate loans may not be taxed as income as long as your certificate is in force.
- The death benefit paid to a named beneficiary will be income tax free.
CERTIFICATE LOANS - CASH WHEN YOU NEED IT:
For any situation, from emergencies to planned expenses, if you need cash, you can request a loan in accordance with the provisions of your certificate-even the first day your certificate is issued.
*Many of the tax and legal matters discussed in this brochure are complex. You should always rely on a competent tax and legal counsel when making financial decisions. This is an outline of benefits only and not a contract. Details are contained in the certificate issued to each member.
Optional Riders
These riders can be added to a Whole Life Policy:
The following optional riders extend the flexibility of your WCU policy. Riders added to the 10 Pay Life Plans terminate at the end of the 10 years. Riders added to the 20 Pay Life Plans terminate at the end of the 20 years. Riders are not available with all plans. Each rider may not be available in all states.
Waiver of Premium: All premiums (including all riders, except the Paid-Up Additions Rider) are waived during a time of total disability beginning before age 60 and lasting at least six months. This waiver expires at age 60.
Accidental Death Benefit: In the event of accidental death, additional insurance protection is available. Issue ages 5 through 55. This waiver expires at age 70.
Spouse Term Rider: You have the opportunity to purchase a term rider for your spouse in units specified below per attained age up to a maximum of 5 units. Expires at age 65 of the spouse listed on the rider.
- Through age 39 $7,500
- 40 - 49 $5,000
- 50 - 59 $2,500
- 60 - 65 $1,000
Child Term Rider: You have the opportunity to purchase a term rider for your children in increments of $1,000 up to $15,000 per child. Expires at child's age 25 or primary insured's age 65 whichever is first.
The Paid-up additions Rider - Paid-up Life you select: You have the opportunity to purchase additional permanent life insurance that requires no further premiums. The Paid-Up Additions Rider, available with a one-time payment at the time of the application gives you numerous advantages:
- Increase your insurance coverage
- Enhances cash accumulations on a tax-deferred basis
- Can be used to offset your premium in case of a financial emergency
- Can help shorten the length of your payment period
[^] Back to top
Western Catholic Union's Final Expense
Level Lifetime premium payment with three lifetime death benefit options determined by underwriting. There is a single premium payment option on the level death benefit only.
- Level Death Benefit
- Graded Death Benefit*
- Return of Premium Death Benefit**
Minimum Face Amount:
$5,000
Maximum Issue Amount:
$35,000 (Level Benefit and Graded Benefit); $10,000 (ROP Benefit)
Issue ages: 50-80
*Not available in WV
**Not available in MO, PA, & WV
[^] Back to top
Western Catholic Union's Juvenile Term to 25
Single premium level death benefit term life contract to age 25. This can be converted to a permanent life product up to 5 times the original face amount at attained age 25.
Issue Amounts: $10,000 or $20,000
Premium amounts: $100 or $200
Issue Ages: 0-18
[^] Back to top