Eagle 8 Single Premium
The Eagle 8 annuity from United Heritage Life Insurance
Company is a single premium deferred annuity contract
that is designed to allow your assets to grow safely
at a competitive rate.
8 annuity allows you to build funds for retirement,
defer income taxes, and transfer wealth. The
Eagle 8 annuity is an
ideal way to provide for a more financially secure
future and a comfortable retirement.
8 annuity is a safe, secure vehicle that is designed
to fit your financial plans in a wide variety of areas.
Like many of United Heritage's annuities, it is ideal
for a rollover of qualified plans such as individual
retirement accounts, and for non-qualified plans.
The Eagle 8 annuity offers a competitive interest
rate and a first-year bonus. The interest rates
of our annuities have a one-year rate guarantee.
Once an interest rate is declared, your contract
is guaranteed to hold that rate until the next policy
No matter what, you will never be offered an interest
rate of less than the minimum rate guaranteed in your policy.
Ask your representative for the interest rate that would
apply to your contract today.
One of the key advantages of
annuities is the power of tax deferral. Unlike
many other financial instruments, annuities allow you
to defer the taxation of the interest that is credited
to your annuity. Your money grows free of current
taxes each year. Also, all of your money goes
to work for you in an Eagle
8 annuity since there are no sales charges
or administrative fees to reduce the value of
your annuity. Usually taxes will be paid when you
make a withdrawal or receive income from your annuity.
Each year you will receive an annual
statement of your account activity. United Heritage
Life will credit interest to your annuity, compounded
daily, to provide an effective annual yield.
With annuities you have the
power of triple compounding; your principal earns interest,
your interest earns interest, and the portion that you
would have otherwise paid in taxes earns interest.
Issue Age & Premium Requirements
The Eagle 8 annuity
can be issued through age 90 and can
be started with as little as $8,000. The maximum
issue amount is $250,000 without home office approval.
8 annuity offers attractive liquidity features.
While you are accumulating interest in your annuity
you have the choice of three penalty-free partial withdrawal
options during the first ten years.
You may make one withdrawal
in any contract year of as much as 10% of the accumulated
contract value without withdrawal charges.
Or you may take systematic withdrawals,
of either a specified dollar amount or a percentage
of the account value, up to a maximum of 10% per year,
in monthly, quarterly, semi-annual or annual payments.
A third option is the ability
to take the earned interest in monthly, quarterly, semi-annual
or annual payments, providing you with an income while
allowing you to conserve your principle.
Withdrawals of interest are
taxable, and withdrawals prior to age 59 1/2 may incur
a 10% IRS penalty. Consult your tax advisor for
current IRS regulations.
Hospital/Nursing Home Waiver
United Heritage Life will waive
any withdrawal charges if, after the policy issue date,
the annuitant becomes hospitalized or confined to an
eligible convalescent care facility for thirty consecutive
days. May not be available in all states.
As your Eagle
8 annuity grows each year, the percentage of
withdrawal charges decreases to "0", at which point
you have maximum flexibility of your contract.
Until then withdrawals or surrenders in excess of the
allowable free withdrawal percentage will incur a penalty
based on the following schedule:
| Contract Year:
| Issue Age 0-59:
| Issue Age 60+:
When you are ready to receive
regular income payments from your Eagle 8 Annuity, you
have several options. This is known as annuitizing
Annuitization options include, but
are not limited to: income for the rest of your
life, no matter how long you live; income for your life
and that of another person; or income for a specified
number of years.
At anytime after contract issue
you may elect to annuitize your annuity into an income
stream of payments.
withdrawal charges may apply if you annuitize your contract
after the surrender period,
ask your representative for complete details.
Remember that withdrawals may
be taxable and a 10% IRS penalty may apply to withdrawals
prior to age 59 1/2. Refer to your contract for
a full explanation of annuitization options.
8 annuity from United Heritage Life will waive
any withdrawal charges in the event of the death of
Prior to annuitization, the death
of the annuitant will result in the entire annuity value
passing to the designated beneficiary. Upon the
death of a non-annuitant owner proceeds will be payable
to any joint owners if living, otherwise proceeds will
be payable to the annuitant named in the policy.
If the beneficiary is a spouse,
he or she may elect to continue the contract as the
new owner instead of receiving beneficiary benefits.
When proceeds are paid to a
named beneficiary the proceeds are paid outside of probate.
Under current tax law, withdrawals
are treated by the IRS as having been paid first from
interest earnings which are taxable to the owner as
regular income. Withdrawals taken before the owner
reaches age 59 1/2 may be subject to a 10% IRS penalty
on the taxable portion.
8 may not be available in all states,
ask your representative.
United Heritage Life Insurance
Company and its representatives do not give legal, tax,
or accounting advice in consideration of or in conjunction
with the purchase of these products.
If you would like information about
any of the Products United Heritage has to offer
Contact Us or
an Agent in your area.