Single Premium Immediate Annuity

Single Premium Introduction

is a contract between you and United Heritage Life Insurance Company. By paying a single sum of money to United Heritage, you are guaranteed to receive a series of payments over a specified period of time, or for the rest of your life. The amount of the payments you receive is determined by the interest rate set by United Heritage at the time your contract is issued and by your election of the settlement options available. Once your contract is issued, your payments are guaranteed for the duration of your contract.

Tax Favored Payments

When a Single Premium Immediate Annuity is funded with after-tax dollars, a portion of each payment you receive is tax-free. The tax-free portion of each payment is the return of your previously taxed principal.

If your Single Premium Immediate Annuity is funded with pre-tax dollars, all payments you receive will be included in your taxable income for the year in which the payments are received.

Guaranteed Income

Once your contract is issued, you will have the peace of mind of knowing that your payments will not decrease or change until your contract ends. You will enjoy the financial security of a guaranteed income. Economic conditions may change, but your payments are guaranteed to remain the same.

Cost of Living Adjustment (COLA)

When purchasing a Single Premium Immediate Annuity, you have the option of electing a Cost of Living Adjustment (COLA) to your modal payment. You may choose to have the payments increase annually by 1%, 2%, 3%, 4%, or 5%. This election is made at the time of application, and the COLA chosen remains the same for the duration of the Single Premium Immediate Annuity. The COLA option allows you to receive an income stream that will enable you to contend with the rising costs of living in the future.

Convenience & No Investment Risk

The investment world is a complicated world at best. With a Single Premium Immediate Annuity, regardless of the interest rate environment, your payments will continue for the term of your contract.

If you have elected a Life Income settlement option, payments will continue for as long as you live. There is no need to make additional investment decisions. Your payments will be made to you on a regular basis and the amount of income you receive will be consistent, year after year.

Choices, Settlement Options

When you purchase a Single Premium Immediate Annuity, you select the frequency of your payments. Payments may be made monthly, quarterly, semi-annually, or annually. You will also select a settlement option. The settlement option is the length of time payments will be made. The different settlement options available allow you to structure your Single Premium Immediate Annuity to best fit your needs. You may choose from any of the following settlement options:

Fixed Amount of Income
Period Certain
Single Life Annuity
Single Life with Installment Refund
Single Life with Period Certain
Joint & Survivor (J&S) Life
J&S Life with Installment Refund
J&S Life with Period Certain

Survivor Benefits:

When you elect a Joint & Survivor (J&S) settlement option you may elect to have the payments decrease after the first death. Payments may remain at 100% or decrease to 75%, 66 2/3% or 50% of the original payment.

Period Certain Settlement Option

You choose the number of years for which payments will be made. The payments will continue for the duration of the period certain and then cease. If you die before the end of the stated number of years, your beneficiary will continue to receive payments for the remainder of those years. You may elect to receive payments for as little as 5 years or as long as 30 years.

Single Life Settlement Option

Payments will be made for the rest of your life, regardless of how long you live. You cannot outlive your income. Payments will cease upon your death.

Single Life with Period Certain

Guarantees that payments will be made for a specified number of years and for the rest of your life if you live beyond the period certain guarantee.

Single Life with Installment Refund

Provides that payments will continue for the rest of your life. If you die before the total payments you have received are equal to your initial investment in the contract, any remaining payments will be paid to your beneficiary in installments.

Joint & Survivor Life

options will provide payments for the lives of two individuals. Joint & Survivor Life options can be combined with Period Certain or Installment Refund to guarantee payments, as with the Single Life options.

Beneficiary Benefits

If your contract has provisions of Period Certain or Installment Refund, any payments due after your death will be made to your beneficiary at the same amount and modal period for the remainder of the contract.

Issue ages & Premium Requirements

The Single Premium Immediate Annuity may be purchased with a minimum amount of $10,000. Premium in excess of $250,000 requires Home Office approval. Maximum issue ages for the SPIA are as follows:

Settlement Option	Issue Age
Period Certain	Any Age

Single Life		85
Joint Life	85
Life w/ Period Certain	95
Life w/ Installment Refund	95

Payment Delivery

You may elect to receive your payments monthly, quarterly, semi-annually, or annually.
You may elect to receive your payments via Electronic Funds Transfer (EFT) directly into your checking or savings account. If you elect to receive payments monthly via EFT, your monthly payments will be increased by $3.

Single Premium Immediate Annuity

an excellent financial tool that can provide you a guaranteed income stream, tax favored payments, and, if you choose, an income for the rest of your life, regardless of how long you live.

Single Premium Immediate Annuity may not be available in all states, ask your representative .

If you would like information about any of the Products United Heritage has to offer Contact Us or Locate an Agent in your area.