The death of a loved one is always a diﬀicult and emotional time. The strain of paying for a funeral and other final expenses can add an additional layer of stress for grieving family members. According to the National Funeral Directors Association, the average cost of a funeral is $7,755 *.
When you consider that this average does not include flowers, a cemetery plot, headstone or other final expenses, family members could end up with a significant financial burden. Social Security only provides a one-time payment of $255, and veterans benefits pay only $300.
We have designed the Puritan Shield whole life insurance policy to provide you peace of mind and to help alleviate the financial burden on your loved ones during a diﬀicult time.
Puritan is a company that you can trust to help you achieve your financial goals and future income needs. Puritan was established in 1958 and is proud of its long history of providing financial solutions for clients, beginning in their peak earning years and continuing through retirement. Puritan is rated B++ by A.M. Best. For the latest rating visit www.ambest.com.
For policies with face amounts of $10,000 or more, the Puritan Shield oﬀers, at no additional premium, accelerated benefit provisions to help with the expense of terminal illness. If you are diagnosed as terminally ill (defined as having a life expectancy of less than 24 months), you may be entitled to receive the terminal illness benefit.
Payments are made directly to you. If you are fortunate enough never to need an accelerated benefit, the Puritan Shield death benefit will pass unreduced to your beneficiaries.
The total amount that may be accelerated under this benefit may not exceed 80% of the face amount. **
If you need access to your funds, you are permitted to take a partial withdrawal of your cash value each policy year according to the following scale (partial withdrawals reduce the death benefit on a proportional basis):
|Maximum Yearly Partial Withdrawl Percentage|
The Puritan Shield is a whole life policy, meaning that cash value is building in your policy. You can access this cash value through a policy loan any time after your contract is issued. Any unpaid policy loans and policy loan interest will be deducted from your death benefit.
Prior to exercising any of these options, you should consult your tax advisor or a legal professional to determine which option is best for you.