Release
WoodmenLife is pleased to announce the launch of My Choice IUL™, an indexed universal life (IUL) insurance product that offers protection for families while securing their financial futures. This flexible life insurance product offers not only life insurance protection, but also the ability to build cash value that can be accessed when it’s needed most. My Choice IUL can be the right product for families in all stages of life – including those just starting their family, in the middle of their career looking to save for the future, or enjoying their retirement and wanting to leave a legacy.
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“We are thrilled to be able to offer this Universal Life insurance product to our members,” said Stephen Priest, Regional Director for Oklahoma. “My Choice IUL offers payment flexibility and the ability to save money over the long term to supplement other retirement income streams in the future.”
Consumers have the option to grow their funds in either one of two accounts or a combination of both. The fixed account allows consumers to be as conservative as their situation dictates; while the indexed account grows credits linked to the performance of an index over a specific period of time up to a maximum cap rate.
The indexed account’s guaranteed zero percent floor, backed by the claims-paying ability of WoodmenLife, protects consumers’ cash value from losing money because of a down market.
This product, combined with the extras available to members who purchase a WoodmenLife product, helps families build their best financial future. These extras include 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.
For more information about WoodmenLife’s newest product, call the local WoodmenLife office at (405) 880-6263 or visit WoodmenLife.org/MyChoice.