Oxford Life Contracting & Appointment 2019

Oxford Life was founded in the Grand Canyon state of Arizona in 1965 and remains committed to supporting the senior market through life insurance, annuity, and Medicare supplement products to meet the financial needs.

Excellent financial ratings, a long track record of caring for policyholders, and a host of value-enhanced financial products specifically designed to meet the needs of seniors, make Oxford Life a strong partner in achieving retirement goals.

Annuities

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Issue ages 18 through 80 Qualified and Non-Qualified. The Oxford Life Multi-Select Multi-Year Guaranteed Annuity (MYGA) offers Guaranteed Growth ~ interest rates are guaranteed for the period elected at issue. At the end of the guarantee period, there’s a 30-day window to choose to renew the guarantee period originally elected. Depending on the circumstances and financial goals at this time, this convenient option assures a competitive current interest rate and an easy transition to a new guarantee period. If no election is made during this window, Oxford Life will automatically renew the annuity for the same guarantee period. If a withdrawal or surrender is made within this 30-day window, no surrender charges or market value adjustment will apply. After the 30-day window, a new guarantee period, guaranteed interest rate, surrender charge period and market value adjustment will be applied. Renewal rates for subsequent guarantee periods will be based on competitive current interest rates and financial circumstances, and may differ from the initial guaranteed interest rate. Interest rates are guaranteed never to go below 1%. 

Tax-Deferred Growth ~ no taxes are paid on the annuity interest income until funds are withdrawn from the annuity. Taxes on the interest credited to your annuity are currently deferred by state and federal law until withdrawn, when income tax brackets may be lower. Roth IRA qualified withdrawals may be income tax free. No Administrative Fees ~ interested received on 100% of the accumulation value. 

Minimum and Maximum Issue Amounts ~ start with as little as $20,000 for Qualified and Non-Qualified accounts. Premium amounts are allowed up to $1,000,000 for issue ages 18 through 75 and $500,000 for issue ages 76 through 80. 

Death Benefit ~ the death benefit will equal the full accumulation value. No surrender/withdrawal charges will apply. 

Payout Options (Annuitization): Period Certain Payments: equal payments for a fixed period of up to 30 years. Lifetime income: equal payments will be made for entire lifetime. Lifetime income with guaranteed period certain: equal payments will be made for the longer of the annuitant’s remaining lifetime or the period agreed upon (5, 10, 15, 20 years or more).  In most states maturity occurs at age 95, but an early annuitization option is available after the first policy year. 

Market Value Adjustment (MVA) ~ Oxford Life’s Multi-Select annuity includes a Market Value Adjustment, which generally allows Oxford Life to credit rates higher than on those products without an interest adjustment. This adjustment may increase or decrease the surrender value, depending on the change in interest rates since the annuity purchase. Due to the mechanics of a market value adjustment feature, the cash surrender value generally increases as interest rates fall. Likewise, when interest rates have increased over a period of time, the surrender value generally declines. The market value adjustment is applied only during the surrender/withdrawal charge period and only on amounts that exceed the penalty free withdrawal amount. Market value adjustments on any portion of IRS-required minimum distributions in excess of the penalty-free withdrawal amount are waived.

Withdrawing Money ~ this annuity offers systematic withdrawal of interest in the first year, or two penalty-free withdrawals per year cumulatively, up to 10% of the accumulated value starting in the second year. Surrender/withdrawal and MVA charges will apply to withdrawals in excess of the penalty free amount. 

Surrender Charges ~ a surrender charge applies to withdrawal amounts that are greater than the penalty-free amount. Each guarantee period has its own surrender charge schedule. The amount of the surrender charge is a percentage of the account value, which generally decreases over time. Renewal into a new guarantee period will reset the surrender charges.

Waiver of Surrender/Withdrawal Charges ~ Terminal Illness, Home Health Care and Nursing Home Benefits are included, may vary by state.

Annuities, Fixed

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Issue ages 18 through 80 Qualified and Non-Qualified for Owner and Annuitant. The Oxford Life Royal Select Fixed Indexed Annuity does not participate directly in any stock or equity investments. As soon as funds are deposited, the accumulation value grows immediately by 8%. At application time, the optional Guaranteed Lifetime Withdrawal Benefit (GLWB) rider designed to generate a higher level of guaranteed lifetime income may be elected; can be cancelled at any time. Optional GLWB issue age is 50+ for Owner and Annuitant. Premium bonus applies to the accumulation value and income account value if the GLWB rider is elected. Contribution limits: $10,000 to $350,000 Qualified and Non-Qualified.

Issue ages 18 through 80 Qualified and Non-Qualified for Owner and Annuitant. The Oxford Life Silver Select Fixed Indexed Annuity does not participate directly in any stock or equity investments. As soon as funds are deposited, the accumulation value grows immediately by 4%. At application time, the optional Guaranteed Lifetime Withdrawal Benefit (GLWB) rider designed to generate a higher level of guaranteed lifetime income may be elected; can be cancelled at any time. Optional GLWB issue age is 50+ for Owner and Annuitant. Premium bonus applies to the accumulation value and income account value if the GLWB rider is elected. Contribution limits: $10,000 to $350,000 Qualified and Non-Qualified.  

Issue ages 18 through 80 Qualified and Non-Qualified for Owner and Annuitant. The Oxford Life Select Series Fixed Indexed Annuity is a long-term contract that helps protect the principal, provide for the opportunity for growth based on the positive movement of the S&P 500 Index, and generate guaranteed lifetime retirement income.

Fixed Indexed Annuity Benefits: Protected Principal ~ this product offers an opportunity to participate in any positive movement in the change in the S&P 500 Index, excluding dividends, without having to be invested in the market and being exposed to the risk of losing the principal. If the change in the S&P 500 Index is negative, the principal will not be impacted by this change.

Tax-Deferral ~ tax-deferred growth allows money to grow faster, thanks to triple compounding. Money placed in an annuity provides for interest on the principal; interest on the interest; interest on the tax savings, because interest is free from current income tax, that interest can continue to compound instead of being reduced by tax payments on that interest. 

Death Benefit ~ Oxford Life will pay out, as the Death Benefit, the Accumulation Value to the beneficiary(ies) upon the death of the Owner. Beneficiary(ies) may choose to receive a lump-sum payment or a series of income payments. 

Lifetime Income ~ after the first policy anniversary, electing to apply the full Accumulation Value of the Policy as a single premium to purchase a guaranteed income for any period is called “annuitization”. It’s important to note that once the choice to annuitize, the payment schedule and the amount are fixed and cannot be altered. Period Certain Payments: equal payments for a fixed period of up to 20 years. Lifetime Income: equal payments will be made for the annuitant’s lifetime. Lifetime Income with Guaranteed Period Certain: equal payments will be made for the longer of the annuitant’s remaining lifetime or the period agreed upon (5, 10, 15, 20 years).

Minimum Deposit (Qualified and Non-Qualified): $20,000; Maximum Deposit (Qualified and Non-Qualified): $350,000.

Final Expense

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Issue ages 50 through 85 (Age Last Birthday); Face Amount: $5,000 to $30,000; Oxford Life’s Assurance is a level premium whole life insurance policy designed specifically to cover final expenses. Premiums never increase and the death benefit amount never changes. No medical exams or telephone interviews; only a health assessment questionnaire.

Terminal Illness and Common Carrier Riders are included at no extra cost, products and benefits may vary by state.

Application methods: e-App or paper; Submission options: completed paper applications may be emailed or faxed. Health assessment questionnaire options: phone or electronically. The InstaWrite Health Assessment processor is a Rules-Based Application Process that generates a ‘qualified’ or ‘not qualified’ decision in minutes. The assessment is a streamlined, less invasive experience; and available 24/7 by phone or online, regardless of the application used, and is compatible with tablets and smart phones.

Issue ages 55 through 80 (Age Last Birthday); Oxford Life’s Assurance One is a single premium life insurance policy that is suitable for wealth transfers, estate planning, and final expense needs. A death benefit is determined at the time the policy is issued, which is guaranteed to never decrease. No additional payments are needed to maintain the policy. Minimum Death Benefit: $5,000; Maximum Death Benefit: Based on issue age, gender, and tobacco class.

The Oxford Life Assurance One death benefit will pass tax-free to the named beneficiary(ies), avoiding probate costs.

Accelerated Benefits include Terminal Illness, Nursing Home and Chronic Illness; may vary by state and availability.

Medicare Supplement

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Select from Plan A, B, C, F, G or N; not all plans are available in all states. Plans are available pre-65 due to disability in some states. Premium can increase annually based on age if all like policies receive an increase in the state.

Application methods: Face-to-Face or Over the Telephone; Submission options: Mail, Fax, Email or Online Electronic Application (e-App). A point-of-sale telephone approval process (POSTAP) implemented by Oxford to verify applicant’s information, underwrite and approve the application and obtain voice signature authorizations within a few minutes. POSTAP requires voice signature authorizations to complete the application process. 

Whole Life

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Issue ages 55 through 80 (Age Last Birthday); Oxford Life’s Prosperity Select is permanent life insurance that guarantees a certain amount of money will be passed on to the chosen heir(s) at death, avoiding probate costs. By funding a single-premium policy, an increased tax-free death benefit is created, immediately increasing the value of the estate.

When a Prosperity Select policy is funded, a death benefit is determined at the time the policy is issued, which is guaranteed from day one and never decreases. No additional payments are needed to maintain the policy. Minimum Death Benefit: $30,000; Maximum Death Benefit: Based on issue age, gender, and tobacco class.

Accelerated Benefits include Terminal Illness, Nursing Home, Chronic Illness and Home Health Care; may vary by state and availability.

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Oxford Life Appointment & Contracting