Life Overview



Almost everyone needs life insurance. Whether you’re single, married, parent or non-parent, own a business or are retired – there is a need. Life insurance from Alfa™ gives you the opportunity to protect the future of others in the event of your death.


Here are just a few ways a life insurance policy from Alfa could help your beneficiaries:


     -Provide funds to pay off household debt like medical expenses, mortgage and credit cards


     -Cover daily living expenses after the loss of your income


     -Pay for funeral costs during a time when the average funeral is more than $7,000


     -Provide for college tuition


One of the best things you can do for loved ones is to give them financial security and protection from loss by purchasing life insurance. Alfa offers a wide range of policies designed specifically for your needs. These policies include permanent insurance, which provides a lifetime of protection, and term insurance, which offers affordable coverage for a set time period.




Term Life Insurance



Get the most coverage for your dollar with a temporary or term policy from Alfa. Term life insurance is designed to provide you with coverage for a select period of time (10, 15, 20, 25 or 30 years). It’s simple, easy on the family budget and a temporary alternative or supplement to permanent insurance plans. Alfa offers the following term plans:


     Level premium term - One of Alfa’s most popular plans, our level premium term policy provides the convenience of having a constant level of life insurance coverage for the duration of the policy. This plan is very affordable and allows you to purchase large amounts of coverage at reasonably-priced rates. It is available for ages 0-70. Once the initial term expires, you will have the option to continue renewing annually as you get older (until age 100). During the renewability phase of the policy, your rates will increase based on your age at the time of renewal. You may also convert your term policy to any of Alfa’s permanent life policies at any time before age 65.


     Return of premium - Imagine term life insurance that gives you cash back at the end of the policy term. That's exactly what Alfa's return of premium plan does. Available as a 30-year level term plan, this option is ideal for those who want and need protection and peace of mind, but think they will outlive their policy. With Alfa's ROP term, if you are living and the policy is in force at the end of the 30 year period, all your base premiums and policy fees are returned (excluding premium for riders, benefits, extra life premiums/rate ups and modal fees). Even if you cancel before the term expires, you could still receive a percentage of the premium paid.


     Rapid issue term - This term insurance policy is offered with an easy application process, and with simplified underwriting. This policy has no medical exam requirements. Alfa offers this plan of insurance with term options of 10, 20, or 30 years. The minimum age to apply is 18 years old and the maximum age varies by the term selected. Volumes offered are as low as $25,000 and up to $75,000. The policy does allow for a period of conversion to a permanent plan of insurance.


* Non-tobacco rates are available on all policies for those who qualify.




Permanent Life Insurance



If you have a long term need for life insurance, Alfa offers permanent insurance coverage designed to cover you for your entire life. As long as you make the premium payments, the coverage will be there when you die.


Your permanent policy can build substantial cash value. This cash value can be borrowed and used for anything you wish. Many permanent life policies also include accelerated death benefits that help by providing advanced funds if the insured is diagnosed with a terminal illness. Permanent life plans include:


     Interest sensitive whole life - One of Alfa's most popular permanent life plans, interest sensitive whole life offers a cash accumulation feature that earns interest according to our declared current rates. As the cash accumulation value grows, excess interest earnings can be used to pay premiums for you. So it’s the best of both worlds for you - current yields, traditional guarantees and the simplicity and protection of a whole life policy. This policy is issued for ages 0-75.


     Ordinary life - This affordable policy is often used for final medical expenses or burial costs. With a simplified underwriting process, this policy has no medical exam requirements. This policy is issued for ages 15-80.




Universal Life Insurance



Seeking flexibility in your life insurance coverage and premium payments? Then Alfa’s universal life insurance plan may be the right one for you. This permanent insurance plan offers a cash accumulation feature that earns interest according to our declared current rates. You may also increase or decrease death benefits, vary your premiums, and in some cases, temporarily suspend premium payments.*


At the end of every policy year, you will receive an annual report detailing the activity and status of your universal life policy. This report will summarize:


     -Premiums you paid

     -Expenses deducted

     -Cost of insurance protection

     -Interest credited to your policy

     -Current accumulation and surrender values

     -Adjustments, if any, such as policy loans or withdrawals

     -Interest rate to be credited for the next 12 months

     -Current death benefit


Alfa’s universal life policy affords you great control and flexibility for protection throughout your lifetime and is issued for ages 0-75. Ask us for more information today.


* Subject to policy provisions regarding changes in coverage or premium amounts. Decreases in the death benefit are subject to surrender charges during the first 10 years.







Americans are now living longer and thus spending more time in the retirement phase of life. Are you prepared for this period of your life, and do you have the income to assure that you won’t have to depend on anyone else? Are you on the right path to retirement?


As a part of your retirement plan, you may want to consider an annuity from Alfa Insurance®. Annuities are tax-deferred long-term savings vehicles offered through insurance companies like Alfa. More people are including annuities in their financial planning to improve their overall financial security.


Alfa offers two types of annuities: single premium deferred and flexible premium deferred. Both earn and accumulate interest on a tax-deferred basis, so the interest earned is not taxed until the money is withdrawn. The interest rate may change each year on the policy anniversary date but does not change during the year. On the day you decide for payments to begin from this policy, payments may either be in a lump sum or a selected payment schedule. Both types of annuities have a death benefit equal to the accumulation value.


Single premium deferred annuity


With Alfa’s single premium deferred annuity you make only one premium payment at policy issue. You can then withdraw up to 10 percent of the accumulation value each year without a withdrawal charge. The interest rate may change each year on the policy anniversary date but does not change during the year. You can determine the maturity date for when the accumulation value would begin to be paid to the annuitant using the selected settlement or lump sum payment options.


     Single premium deferred annuity


     Contribution Limits-

     Minimum: $5,000

     Maximum: $500,000 or more with prior company approval


Flexible premium deferred annuity


With Alfa’s flexible premium deferred annuity, you can make premium payments on a regular or irregular basis. The interest rate may change each year on the policy anniversary date but does not change during the year. You can determine the maturity date for when the accumulation value would begin to be paid to the annuitant using the selected settlement or lump sum payment options.


     Flexible premium deferred annuity


     Contribution Limits-

     Minimum: $600 Annually

     Maximum: $500,000, or $10,000 monthly, for lifetime of contract or more with prior         company approval



For more information about Alfa's annuities, please contact your local Alfa agent.


* Payments withdrawn during the first 10 years of the annuity contract will be subject to an early withdrawal charge. Please refer to the annuity contract and illustration for additional information. Tax penalties may apply to withdrawals made before the contract purchaser reaches age 59 1/2. Your tax advisor can assist you with the tax implications of annuity withdrawals.




Life Coverage Options



Alfa offers several options to help you get the most from your life insurance program and to meet your family's insurance needs.


Accidental death benefit is paid if the insured dies accidentally.


Children's term insurance provides for a level death benefit for each insured child to age 25. If you (our insured) die during the term, the children's term policy is paid up until the child reaches age 25. May be purchased for a child age 0-18. Each insured child can convert to an individual permanent policy up to five times the rider amount on the date the child’s coverage is due to expire.


Guaranteed purchase option allows you to buy additional coverage at certain times even though you may have become uninsurable due to a terminal illness, for example.


Guaranteed renewability benefit provides for the renewal of your Level Premium Term at the end of the level premium period or your Return of Premium policy at the policy expiration, regardless of your health.


Premium insurance prevents cancellation of a policy on your child's life to age 25 if you (the premium payor) die or become disabled. May be purchased for a child age 0-14.


Spouse level term option provides convenient, cost-saving, level-term coverage for a spouse up to age 65. May be converted to a permanent plan of insurance at any time prior to the expiration of the rider.


Waiver-of-premium benefit keeps your insurance policy in effect without payment of premiums while you are totally disabled.


Flexible payment schedule allows you to pay your premiums monthly, quarterly, semi-annually or annually.



How do I know which plan is best for me?


By completing a financial needs analysis, your Alfa agent can help you determine your family's financial situation. By taking a few moments of your time, you can have the peace of mind that your family will be protected financially in the event you or your spouse die prematurely.