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Lafayette Life - Life Insurance

Lafayette Life History

The Articles of Incorporation establishing The Lafayette Life Insurance Company as a mutual company were filed on December 26, 1905. On Lafayette Life's 95th anniversary, the company became a stock life insurance company subsidiary of the Lafayette Life MIHC, Inc. as part of a reorganization to a mutual insurance holding company structure.

The heart of the Articles of Incorporation has been a deep altruistic philosophy. That philosophy was graphically illustrated after World War I when the Company ordered all war claims reopened. Beneficiaries were paid the face amount of their policies, in spite of the fact that benefits for death in the military during time of war were specifically excluded in most early life policies.

During the Great Depression insurance companies across the nation were besieged with requests for policy loans to prevent bank foreclosures on real estate holdings. At the same time that loans were in demand, premium payments were neglected. Because The Lafayette Life had maintained its original goal of a solid financial position, the Company was able to meet all requests for policy loans. In addition, the Company enabled policy owners to keep their policies in effect with a payment of only $1.00 per thousand each month. While countless banks suffered tremendous losses and many collapsed, The Lafayette Life came through the Great Depression without borrowing a dollar or sacrificing an investment.

After World War II, the now stable economy, the postwar boom in creativity, and, most tangibly, the progressive and enthusiastic leadership of the postwar period, began a period of unprecedented growth. In 1946, The Lafayette Life had $50 million of insurance in force; by 1960, it had quadrupled to $200 million; and, by the early 70s, the Company had reached the milestone of one billion dollars. Today, The Lafayette Life has almost $20 billion of life insurance in force and assets well in excess of $1 billion.

The Lafayette Life Insurance Company is based in Lafayette, Indiana, and markets a portfolio of traditional, group and pension products in 48 states, and the District of Columbia.


The Lafayette Life Mission Statement

To maintain The Lafayette Life as a financially sound, quality driven, growth oriented company, dedicated to exceeding its customers’ requirements for life insurance and related financial service and to distribute its products to well-defined U.S. market segments.

Individual Insurance and Annuity Products

Lafayette Life Insurance Company has a complete line of life insurance and annuity products to meet most every need. In addition, there are specialized riders that may be combined with your policy to provide a customized package best suited to your personal objectives. The following information provides a brief description of Lafayette Life's products and what they were designed to do. You can find more information on a particular product from your Lafayette Life agent.

The Classic Series of Whole Life Insurance
These policies provide permanent insurance, with level death benefits to age 100. Each participates in policy dividends*, and offers death benefit protection that is guaranteed to stay in place as long as you pay the scheduled premium without accessing the policy cash values. Lafayette Life have three different whole life insurance polices, each with different features and benefits.

The Millennium Series of Universal Life Insurance
These life insurance policies are designed to provide flexibility in premiums and death benefits, with access to current policy values. Lafayette Life have several different universal life policies, each designed to meet a different need.

The Marquis Series of Equity-Indexed Life and Annuity Products
Lafayette Life Marquis product line is designed to offer the opportunity to participate in interest crediting based in part on the Standard and Poor’s 500 Composite Stock Index. These policies provide the possibility of a greater interest crediting than fixed-interest crediting, while still offering minimum guaranteed values and a minimum guaranteed interest rate and the benefits associated with traditional insurance products. The S&P 500 Index does not reflect dividends paid by the S&P 500 companies. The annuities are used primarily for long term cash accumulation and retirement income, and the life insurance can provide a substantial death benefit. There are three products in the Marquis product line.

Elite Series of Term Life Products
Term insurance is designed to provide low cost, temporary death benefit coverage to meet a variety of needs. It has a limited policy length and no cash value accumulations. Lafayette Life have several term insurance plans to meet your needs.

The Horizon Series of Fixed Annuities
Lafayette Life’s portfolio of traditional fixed-interest annuity products are designed to provide a flexible and easy method of accumulating funds to meet your long-term needs, and to offer several distribution options for you to consider. Interest is credited on a regular basis and funds may be available at any time, subject to possible withdrawal charges, income taxes and penalties.



 

1905 Teal Road,
P.O. Box 7007,
Lafayette,
Indiana 47903-7007

http://www.llic.com

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