|
HEALTH
GIFT
TAX LAW LETS YOU GIVE A GIFT THAT KEEPS ON GROWING.
TAX-FREE GIFT LIMITS:
Present tax law lets you give up
to $10,000 annually (or $20,000 if your spouse participates) to as
many individuals as you’d like and still qualify for the Gift
Tax Exclusion. Look
at what your gift to life insurance or a tax-deferred annuity
could mean to your loved ones.
LIFE INSURANCE AS A GIFT:
The UNIFLEX PLAN.
You can give your grandchild or
any young relative a solid financial start in life with Farmers
Uniflex Plan. A one-time payment of under $5,000 can purchase a paid up,
cash value life insurance policy of $100,000 for a child, with
lifetime coverage.
Or, how about helping your son or
daughter protect their young family with a gift of life insurance?
Your one-time payment of $10,000 can provide $100,000 of
paid up, cash value life insurance protection for a 25-year-old
man. Based on the
current interest rate*, that policy would generate over $232,139
in cash value by age 65. Similarly
attractive results can be gained for a 25-year-old female, for a
cost of less than $9,000.
Based on the above example, no
more premiums would ever have to be paid on that policy.
But the cash value will continue to grow, year after year,
to be available as a source of college funds, or as collateral to
start a business or for use however needed.
Most importantly, you have guaranteed insurance protection
for that person, regardless of any future changes in their health
or occupation that might otherwise make it difficult or impossible
for them to but life insurance on their own.
*Current interest rate of 9% is
not guaranteed and may be changed by the Company but never below
the 4½% minimum guarantee.
ANNUITIES AS A
GIFT:
Consider what your gift of a
tax-deferred annuity today can mean to someone in the future.
Assuming an 8% interest rate, $10,000 deposited in our
Flexible Payment Annuity today would produce:
-
Over $21,000 at the end of
10 years
-
Over $46,500 at the end of
20 years
-
Over $469,000 at the end of
50 years
Ask your Farmers Agent for the
current rate.
Or, you might wish to make a
continuing yearly gift to that person in which case Farmers
Flexible Payment Annuity would be an excellent choice.
Farmers Flexible Payment Annuity offers:
-
No sales charges
-
No maintenance or service
fees
-
Accumulation free of current
income tax
-
High current interest
-
Safety of the funds
-
Generous retirement income
options
You make the
choice…
Choose the vehicle – a Life
Insurance policy or Flexible Payment Annuity.
Choose the recipient – any
individual or individuals can benefit from your generous gift.
Choose the amount – any amount
up to $10,000 ($20,000 if your spouse participates) can be given
each year to as many different people as you choose and the full
amount would qualify for a gift tax exclusion (there is no overall
maximum limit, only a limit per donee).
Ask your Farmers Agent to help
you use the Gift Tax Law to benefit your loved ones.
You may also wish to check with your lawyer or tax advisor
for guidance in your particular situation.
This brochure is not intended to provide specific tax
advice or counsel.
What greater gift could you
possibly give than to guarantee a solid financial foundation for a
loved one?
INFORMATION
ABOUT OUR COMPANY:
-
Serving
the public since 1910, Farmers New World Life is a member of
the Farmers Insurance Group of Companies (3rd
largest insurer of autos and homes in the U.S.)
-
We
rank very high among the leading life insurance companies,
having earned an A+ Superior rating (highest rating) by A.M.
Best, the respected analysts of the insurance industry,
confirming our superior financial strength.
-
We
seek the optimum rate of return for our policyholders that are
consistent with safety. Our
investment policy is to match assets and liability cash flows,
applying stringent investment guidelines to assure quality,
safety and liquidity.
|
