product overview - liberty lifewhole life simplified issue whole life page 8 15 days - 65 minimum...
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Product overview Build with us
Maximize your business
For agent use only. Not for distribution to the public.
Liberty Life Assurance Company of Boston
Liberty Life Assurance Company of Boston, a Liberty Mutual company,is a vibrant organization, leveraging strong products, marketing, andservice capabilities to support our business partners.
1
Build with us
Liberty Life Assurance Company of Boston, a Liberty Mutual company, is building partnerships and thinking independent. We offer a broad spectrum of fully underwritten and simplified issue life insurance products, as well as fixed annuities.
We provide foundation and balance
We provide security for partners and customers by maintaining a strong and stable financial position. A high quality investment portfolio and disciplined investment strategy helps ensure our ability to keep promises.
Maximize your business
We want our partners to succeed. By providing exceptional service and innovative products, we can help you exceed your goals. Maximize your business with Liberty Life.
10-minute approvalAlong with a strong product portfolio, we offer an innovative submission and underwriting process on eligible simplified issue sales. This process provides:
• Approval decision in 10 minutes • Thirteen or fewer medical questions • Choice of traditional and e-submission process
2
1 Must meet $25,000 face minimum in WA3
At a glance DescriptionIssue Ages
(age last birthday)
Minimum face amount/ Minimum premium
Maximum face amount Death Benefit Interest/
Contract Credits Rate enhancements Access to cash Optional modules or riders
Simplified Issue
SPW
L
Estate Maximizer Next Generation® Page 7 50 - 85 $15,000 (single premium)1 Varies by age
and premium
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Guaranteed rate of 3.00% reduced by cost of insurance and expense charges.
NA
Up to 10% of account value available free of withdrawal charges each year beginning with year two.
Liberty’s Living Benefit, Waiver of withdrawal charge for qualifying medical stay
Who
le L
ife
Simplified Issue Whole Life Page 8 15 days - 65 Minimum face amount: $15,0001
Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability
Simplified Issue Life Paid-up at 65 Page 8 15 days - 55 Minimum face amount: $15,0001
Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability
Simplified Issue 20 Payment Life Page 8 15 days - 65 Minimum face amount: $15,0001
Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability
Term
Simplified Issue Passport 10 Term Page 9 18 - 65 Minimum face amount: $50,000
Minimum premium: $150/year $250,000 Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Simplified Issue Passport 15 Term Page 9 18 - 65 Minimum face amount: $50,000
Minimum premium: $150/year $250,000 Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Simplified Issue Passport 20 Term Page 9 18 - 60 Minimum face amount: $50,000
Minimum premium: $150/year $250,000 Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Simplified Issue Passport 30 Term Page 9 18 - 50
Minimum face amount: $50,000 Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
4
At a glance DescriptionIssue Ages
(age last birthday)
Minimum face amount/ Minimum premium
Maximum face amount Death Benefit Interest/
Contract Credits Rate enhancements Access to cash Optional modules or riders
Simplified Issue
SPW
L
Estate Maximizer Next Generation® Page 7 50 - 85 $15,000 (single premium)1 Varies by age
and premium
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Guaranteed rate of 3.00% reduced by cost of insurance and expense charges.
NA
Up to 10% of account value available free of withdrawal charges each year beginning with year two.
Liberty’s Living Benefit, Waiver of withdrawal charge for qualifying medical stay
Who
le L
ife
Simplified Issue Whole Life Page 8 15 days - 65 Minimum face amount: $15,0001
Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability
Simplified Issue Life Paid-up at 65 Page 8 15 days - 55 Minimum face amount: $15,0001
Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability
Simplified Issue 20 Payment Life Page 8 15 days - 65 Minimum face amount: $15,0001
Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability
Term
Simplified Issue Passport 10 Term Page 9 18 - 65 Minimum face amount: $50,000
Minimum premium: $150/year $250,000 Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Simplified Issue Passport 15 Term Page 9 18 - 65 Minimum face amount: $50,000
Minimum premium: $150/year $250,000 Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Simplified Issue Passport 20 Term Page 9 18 - 60 Minimum face amount: $50,000
Minimum premium: $150/year $250,000 Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Simplified Issue Passport 30 Term Page 9 18 - 50
Minimum face amount: $50,000 Minimum premium: $150/year $250,000
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
2 After the first contract year, up to 10% of the beginning-of-year account value may be withdrawn without withdrawal charges. Withdrawals taken before age 59 ½ may be subject to 10% federal tax penalty as well as tax on any gain in the contract. Clients should consult a tax advisor regarding any tax implications.5
At a glance DescriptionIssue Ages
(age last birthday)
Minimum face amount/ Minimum premium
Maximum face amount Death Benefit Interest/
Contract Credits Rate enhancements Access to cash Optional modules or riders
Fully Underwritten
Who
le L
ife
Whole Life Page 10 15 days - 80
Minimum face amount: Ages 0-65: $250,001 Ages 66+: $15,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability, Guaranteed Insurability option
Life Paid-up at 65 Page 10 15 days - 55Minimum face amount: Ages 0-55: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability, Guaranteed Insurability option
20 Payment Life Page 10 15 days - 90
Minimum face amount: Ages 0-65: $250,001 Ages 66+: $15,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability, Guaranteed Insurability option
Term
Passport 10 Page 11 18 - 70Minimum face amount: Ages 18-65: $250,001 Ages 66+: $50,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Passport 15 Page 11 18 - 65Minimum face amount: Ages 18-65: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Passport 20 Page 11 18 - 60Minimum face amount: Ages 18-60: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Passport 30 Page 11 18 - 50Minimum face amount: Ages 18-50: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Ann
uiti
es
Builder Page 12 18 - 85 $15,000 (single premium)Over $1,000,000 must
receive home office approval
In the event of owner’s death, their annuity’s account value will be paid directly to the beneficiary.
Guaranteed credited rate initially for four years, and resets annually after initial period.
0.15% additional interest for values of $100,000+
Yes, through partial and systematic withdrawals3 and annuitization.
• Extra access • Extra care & protection • Extra assurance
Balance Page 13 18 - 85 $10,000 (single premium)Over $1,000,000 must
receive home office approval
In the event of owner’s death, their annuity’s account value will be paid directly to the beneficiary.
Guaranteed credited rate initially for one or five years, and reset annually after initial period.
0.15% additional interest for values of $100,000+, 1.00% extra interest in the first year, Return of Premium can be waived for an added 1.00% first year interest bonus
Yes, through partial and systematic withdrawals2 and annuitization.
NA
Foundation Page 14 18 - 85 $10,000 (single premium)Over $1,000,000 must
receive home office approval
In the event of owner’s death, their annuity’s account value will be paid directly to the beneficiary.
Guaranteed credited rate initially for one or five years, and resets annually after initial period.
0.15% additional interest for values of $100,000+, 0.25% extra interest in the first year, Return of Premium can be waived for an added 1.00% first year interest bonus
Yes, through partial and systematic withdrawals2 and annuitization.
NA
3 May vary by state. Up to 5% of the beginning-of-year account value may be withdrawn without withdrawal charges. Withdrawals taken before age 59 ½ may be subject to 10% federal tax penalty as well as tax on any gain in the contract. Clients should consult a tax advisor regarding any tax implications. 6
At a glance DescriptionIssue Ages
(age last birthday)
Minimum face amount/ Minimum premium
Maximum face amount Death Benefit Interest/
Contract Credits Rate enhancements Access to cash Optional modules or riders
Fully Underwritten
Who
le L
ife
Whole Life Page 10 15 days - 80
Minimum face amount: Ages 0-65: $250,001 Ages 66+: $15,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability, Guaranteed Insurability option
Life Paid-up at 65 Page 10 15 days - 55Minimum face amount: Ages 0-55: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability, Guaranteed Insurability option
20 Payment Life Page 10 15 days - 90
Minimum face amount: Ages 0-65: $250,001 Ages 66+: $15,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit unless loans or withdrawals have been made.
Contract credits may be declared in advance for each contract year.
NAYes, through policy loans and withdrawals.
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit, Payor death & disability, Guaranteed Insurability option
Term
Passport 10 Page 11 18 - 70Minimum face amount: Ages 18-65: $250,001 Ages 66+: $50,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Passport 15 Page 11 18 - 65Minimum face amount: Ages 18-65: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Passport 20 Page 11 18 - 60Minimum face amount: Ages 18-60: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Passport 30 Page 11 18 - 50Minimum face amount: Ages 18-50: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Will never be less than the guaranteed death benefit.
NA NA NA
Children’s protection rider, Disability waiver of premium, Accidental death & dismemberment, Liberty’s Living Benefit
Ann
uiti
es
Builder Page 12 18 - 85 $15,000 (single premium)Over $1,000,000 must
receive home office approval
In the event of owner’s death, their annuity’s account value will be paid directly to the beneficiary.
Guaranteed credited rate initially for four years, and resets annually after initial period.
0.15% additional interest for values of $100,000+
Yes, through partial and systematic withdrawals3 and annuitization.
• Extra access • Extra care & protection • Extra assurance
Balance Page 13 18 - 85 $10,000 (single premium)Over $1,000,000 must
receive home office approval
In the event of owner’s death, their annuity’s account value will be paid directly to the beneficiary.
Guaranteed credited rate initially for one or five years, and reset annually after initial period.
0.15% additional interest for values of $100,000+, 1.00% extra interest in the first year, Return of Premium can be waived for an added 1.00% first year interest bonus
Yes, through partial and systematic withdrawals2 and annuitization.
NA
Foundation Page 14 18 - 85 $10,000 (single premium)Over $1,000,000 must
receive home office approval
In the event of owner’s death, their annuity’s account value will be paid directly to the beneficiary.
Guaranteed credited rate initially for one or five years, and resets annually after initial period.
0.15% additional interest for values of $100,000+, 0.25% extra interest in the first year, Return of Premium can be waived for an added 1.00% first year interest bonus
Yes, through partial and systematic withdrawals2 and annuitization.
NA
4 Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Liberty Series Estate Maximizer Next Generation, a single payment interest-sensitive whole life insurance contract, on policy forms SPWL-2010157, ICC10-SPWL-2010157 as applicable (SPWL-2010157 NY in New York) and state variations identified by state code. Contract availability, terms, conditions, and issue limitations may vary by state.
5 Unless loans or withdrawals have been taken.
6 Withdrawals and loans are subject to tax on any gain in the contract and, if taken before age 59½, may be subject to a 10% federal tax penalty. Loans, if not repaid, and withdrawals will reduce the death benefit and account value. Clients should consult a tax advisor.
7 Provided estate is not the beneficiary of the contract
8 Availability and features may vary by state
The Liberty Series Estate Maximizer Next Generation® is a single payment, interest-sensitive whole life insurance policy.4 It is one of the most efficient asset transfer products available today.
• 100% return of principal guarantee5 • Access to cash value through withdrawals and policy loans6 • Accelerated death benefits are available in the event of a chronic or terminal illness8
• Cash value grows income tax-deferred• Death benefit bypasses the hassle of probate7
• Death benefit passes income tax-free, under current tax law• Current interest rate is locked in for one year (guaranteed rates also apply) Estate Maximizer Next Generation is a simplified issue product.
Target market includes clients who are: • 60 to 85 years of age • Seeking safety and guarantees • In possession of idle assets to reposition • Planning to leave money to beneficiaries • In no immediate need for income or ready access to funds
7
Liberty Series Whole Life Insurance offers level premiums, strong guarantees, and valuable protection. These policies provide:
• A guaranteed death benefit that will never decrease5
• Access to guaranteed cash values through policy loans9
• The ability to tailor coverage with a variety of add-on riders, like Liberty‘s Living Benefit, an accelerated death benefit rider10
• The opportunity to earn contract credits that increase the policy’s cash value and death benefit11
Products available: • Whole Life• 20 Payment Life • Life Paid-up at 65
Target market includes clients who are:• 15 days to 65 years of age (available issue ages vary by product)• In need of permanent life insurance• Seeking safety and guarantees• Purchasing a new home, adding a new family member, or in need of income replacement
Liberty Series Simplified IssueWhole LifeSM Insurance
Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Liberty Series Simplified Issue Whole Life, Liberty Series Simplified Issue Life Paid-Up at 65 and Liberty Series Simplified Issue 20-Year Payment Life on policy form WL-2005022 (WL-2008055 NY in New York and WL-2005022 NJ in New Jersey) and state variations identified by state code. Contract availability, terms, conditions, and issue limitations may vary by state.
5 Unless loans or withdrawals have been taken.
9 Loan value will accrue interest, which if not repaid will reduce the death benefit and cash value.
10 Liberty‘s Living Benefit, an Accelerated Death benefit rider, will be added to the contract at no additional charge unless it is declined at time of application. Availability and features may vary by state.
11 Contracts in NY are participating and receive dividends.
8
Min face amount/ Min premium
Max face amount
Simplified Issue
Simplified Issue Whole Life
Minimum face amount: $15,0001 Minimum premium: $150/year
$250,000
Simplified Issue Life Paid-up
at 65
Minimum face amount: $15,0001 Minimum premium: $150/year
$250,000
Simplified Issue 20 Payment
Life
Minimum face amount: $15,0001 Minimum premium: $150/year
$250,000
Liberty Series Simplified IssuePassport Term Life Insurance
Liberty Series Passport Term Insurance provides coverage for 10, 15, 20, or 30 years. Your client’s premiums are guaranteed to remain level for the length of the term. Features include:
• Built-in conversion guarantee • Your client can convert to a permanent policy without evidence of insurability within an allotted time period (Time period varies by product)• A conversion credit • In the first five policy years, the client can receive a conversion credit equal to the premium paid in the last 12 months• A choice of riders • Liberty’s Living Benefit, an accelerated death benefit10 • Children’s Protection • Disability Waiver of Premium • Accidental Death and Dismemberment12
• An option to continue coverage • Premiums will increase annually, but coverage can continue to age 908
Products available:• Passport 10• Passport 15• Passport 20• Passport 30
Target market includes clients who are:• 18 to 65 years of age (available issue ages vary by product)• Looking for more affordable life insurance• Providing their survivors with lost income in the event of their death• In need of coverage for a certain period of time
Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Liberty Series Passport 10 Simplified Issue, Series Passport 15 Simplified Issue, Series Passport 20 Simplified Issue, and Liberty Series Passport 30 Simplified Issue term life insurance contracts on policy form TERM- 2005057 (TERM-2005057 NY in New York and TERM-2005057 NJ in New Jersey) and state variations identified by state code. Contract availability, terms, conditions, and issue limitation may vary by state.
8 Availability and features may vary by state.
10 Liberty‘s Living Benefit, an Accelerated Death benefit rider, will be added to the contract at no additional charge unless it is declined at time of application. Availability and features may vary by state.
12 In NY: Accidental Death Only.
9
Min face amount/
Min premium
Max face amount
Simplified Issue
Simplified Issue Passport 10 Term
Minimum face amount: $50,000 Minimum premium: $150/year
$250,000
Simplified Issue Passport 15 Term
Minimum face amount: $50,000 Minimum premium: $150/year
$250,000
Simplified Issue Passport 20 Term
Minimum face amount: $50,000 Minimum premium: $150/year
$250,000
Simplified Issue Passport 30 Term
Minimum face amount: $50,000 Minimum premium: $150/year
$250,000
Modal factors for Liberty Series policies
Semi-annual .5200
Quarterly .2650
PAC .0900
Liberty Series Whole Life Insurance offers level premiums, strong guarantees, and valuable protection. These policies provide:
• A guaranteed death benefit that will never decrease5
• Access to guaranteed cash values through policy loans9
• The ability to tailor coverage with a variety of add-on riders, like Liberty‘s Living Benefit, an accelerated death benefit rider10
• The opportunity to earn contract credits that increase the policy’s cash value and death benefit11
Products available: • Whole Life• 20 Payment Life • Life Paid-up at 65
Target market includes clients who are:• 15 days to 90 years of age (available issue ages vary by product)• In need of permanent life insurance• Seeking safety and guarantees• Purchasing a new home, adding a new family member, or in need of income replacement
Liberty Series Whole LifeSM Insurance
Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Liberty Series Whole Life, Liberty Series Life Paid up at 65, and Liberty Series 20 Payment Life on policy form WL-2005022 (WL-2008055 NY in New York and WL-2005022 NJ in New Jersey) and state variations identified by state code. Contract availability, terms, conditions, and issue limitations may vary by state.
5 Unless loans or withdrawals have been taken.
9 Loan value will accrue interest, which if not repaid will reduce the death benefit and cash value.
10 Liberty‘s Living Benefit, an Accelerated Death benefit rider, will be added to the contract at no additional charge unless it is declined at time of application. Availability and features may vary by state.
11 Contracts in NY are participating and receive dividends.
Min face amount/ Min premium
Max face amount
Fully Underwritten
Whole Life
Minimum face amount: Ages 0-65: $250,001 Ages 66+: $15,000 Minimum premium: $150/year
Over $1,000,000 must receive home
office approval
Life Paid-up at 65
Minimum face amount: Ages 0-55: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home
office approval
20 Payment Life
Minimum face amount: Ages 0-65: $250,001 Ages 66+: $15,000 Minimum premium: $150/year
Over $1,000,000 must receive home
office approval
10
Liberty SeriesPassport Term Life Insurance
Liberty Series Passport Term Insurance provides coverage for 10, 15, 20, or 30 years. Your client’s premiums are guaranteed to remain level for the length of the term. Features include:
• Built-in conversion guarantee • Your client can convert to a permanent policy without evidence of insurability within an allotted time period (Time period varies by product)• A conversion credit • In the first five policy years, the client can receive a conversion credit equal to the premium paid in the last 12 months• A choice of riders • Liberty’s Living Benefit, an accelerated death benefit10 • Children’s Protection • Disability Waiver of Premium • Accidental Death and Dismemberment12
• An option to continue coverage • Premiums will increase annually, but coverage can continue to age 908
Products available:• Passport 10• Passport 15• Passport 20• Passport 30
Target market includes clients who are:• 18 to 70 years of age (available issue ages vary by product)• Looking for more affordable life insurance• Providing their survivors with lost income in the event of their death• In need of coverage for a certain period of time
Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Liberty Series Passport 10, Liberty Series Passport 15, Liberty Series Passport 20, and Liberty Series Passport 30 term life insurance contracts on policy form TERM-2005057 (TERM-2005057 NY in New York and TERM-2005057 NJ in New Jersey) and state variations identified by state code. Contract availability, terms, conditions, and issue limitation may vary by state..
8 Availability and features may vary by state.
10 Liberty‘s Living Benefit, an Accelerated Death benefit rider, will be added to the contract at no additional charge unless it is declined at time of application. Availability and features may vary by state.
12 In NY: Accidental Death Only.
11
Min face amount/ Min premium
Max face amount
Fully Underwritten
Passport 10
Minimum face amount: Ages 18-65: $250,001 Ages 66+: $50,000 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Passport 15Minimum face amount: Ages 18-65: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Passport 20Minimum face amount: Ages 18-60: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Passport 30Minimum face amount: Ages 18-50: $250,001 Minimum premium: $150/year
Over $1,000,000 must receive home office
approval
Modal factors for Liberty Series policies
Semi-annual .5200
Quarterly .2650
PAC .0900
Freedom SeriesBuilder Annuity
Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues Freedom Series Builder Annuity on policy forms SPDA-2010023, ICC10-SPDA-2010023 as applicable (SPDA-2010023 NY in New York) and state variations identified by state code. Product availability may vary by state. Features and benefits may vary based on state approval. Home office: Boston, Mass. Service center: Dover, N.H.
8 Availability may vary by state.
The Builder Annuity is a single premium fixed deferred annuitywith a transparent modular design that allows customers to choose features based on their needs.
• Purchasing one or more of the following Builder Annuity modules will lower the initial interest rate while providing the extra coverage that is right for your client • Extra access module8
• Return of premium guarantee – Upon surrender, your client is guaranteed to receive no less than the premium paid less prior withdrawals • Penalty-free withdrawals – After the first year, your client can withdraw 10% of his or her account value per year A withdrawal of 5% is allowable without selecting this module. • Extra care and protection module8
• Certain serious health conditions allow for withdrawals or surrenders, without withdrawal charges, if: • Your client or client’s spouse becomes ill and requires a qualifying medical stay for 45 days out of any continuous 60-day period • Your client or client’s spouse is diagnosed as terminally ill • Your client or client’s spouse becomes unable to perform two of the six activities of daily living • Extra assurance module8
• Account value withdrawal – If declared interest rate before any rider charges are applied drops below the minimum threshold determined at time of contract issue, your client can withdraw any or all of the account value without a withdrawal charge. In addition, withdrawal charges will not be assessed on any withdrawal up to 60 days after the rate returns above the minimum threshold
Target market for fixed annuity products includes clients who are:• 50 to 80 years of age• Looking for long-term accumulation• Interested in flexible features• Ready to put a portion of assets into retirement savings• Looking for guaranteed growth and tax deferral
12
The Balance Annuity is a single premium fixed deferred annuity that provides a first-year interest rate bonus that will help jump start your client’s annuity earnings. • Pays an extra 1.00% interest in the contract’s first year• Currently, credits an additional 0.15% interest for account values of $100,000 or greater• Provides a choice of guarantee period: initial rate schedule is guaranteed for either one or five years• Pays an additional 1% interest in the first year if the return of premium guarantee is waived
Target market for fixed annuity products includes clients who are:• 50 to 80 years of age• Looking for long-term accumulation• Interested in flexible features• Ready to put a portion of assets into retirement savings• Looking for guaranteed growth and tax deferral
Freedom SeriesBalance Annuity
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Freedom SeriesFoundation Annuity
The Foundation Annuity is a single premium fixed deferred annuity for those looking to build retirement income with the power of tax deferral. • Pays an extra 0.25% interest in the contract’s first year• Currently, credits an additional 0.15% for account values of $100,000 or greater• Choice of guarantee period: initial rate schedule is guaranteed for either one or five years• Pays an additional 1% of interest in the first year if the return of premium guarantee is waived
Target market for fixed annuity products includes clients who are:• 50 to 80 years of age• Looking for long-term accumulation• Interested in flexible features• Ready to put a portion of assets into retirement savings• Looking for guaranteed growth and tax deferral
Liberty Life Assurance Company of Boston, a Liberty Mutual company, issues: Freedom Series Balance Annuity and Freedom Series Foundation Annuity on policy forms SPDA-2010090, ICC10-SPDA-2010090 as applicable (SPDA-2010090 NY in New York) and state variations identified by state code. Product availability may vary by state. Features and benefits may vary based on state approval. Home office: Boston, Mass. Service center: Dover, N.H.
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Home office: Boston, Mass. Service center: Dover, N.H.© 2014 Liberty Mutual Insurance IND 2014350 6/14
About us
At Liberty Life Assurance Company of Boston, a Liberty Mutual company, we’re committed to providing a relationship built on partnership, value, and trust. We’ll work with you to define the best solutions to meet your client’s needs. From our comprehensive portfolio of products to our customer service, we’re dedicated to you.
Liberty Life Assurance Company of Boston
Visit our website athttps://LifeMadeEasy.LibertyMutual.comor give us a call at 800-749-3620 for more information.