State Life - Life Insurance
Ohio State Life Company
State Life Insurance Company is owned by Americo Life, Inc.,
of Kansas City, Missouri. Americo is led by a seasoned management
team with over 100 years of experience in the life insurance
industry. While Ohio State Life successfully operates as an
independent arm of Americo Life, Inc., Ohio State Life benefits
from being part of a large, sound company with assets under
management totaling more than $4.1 billion, over $44 billion
of life insurance in force and a bond portfolio which is 99
percent investment grade.
Ohio State Life organization has been offering life insurance
products for over 90 years. Ohio State Life understand what
consumers want when they buy life insurance, they anticipate
it, they develop the products you are looking for. Ohio State
Life built their strong financial foundation by listening
to their customers and the market.
founded in Columbus, Ohio, in 1906, Ohio State Life moved
to Dallas after being purchased by the Great Southern Life
Insurance Company of Dallas. In 1993, all life insurance companies
owned by Financial Holdings were placed under the control
of Americo Life, Inc. Ohio State Life has its headquarters
in Dallas, Texas.
State Life is rated "A-" (Excellent) by The A.M.
State Life Insurance Company offers a variety of Life Insurance
and Annuity products including Universal Life, Traditional
Whole Life and Term Insurance.
Ohio State Life - The Great Index Universal Life
Interest is Credited to the Great Index Universal Life
insure you receive the best service, several things happen
to your accumulation account every month.
premiums paid are added to the accumulation account
of insurance and any other monthly expenses are deducted
interest (2 percent annually) is credited
calculate additional interest credits the S&P 500 index
performance is tracked based on the timing of premium payments.
"Index periods" are used to expedite this process.
month you contribute to the accumulation value, a yearlong
index period begins
interest linked to the performance of the S&P 500
index is calculated at the end of each yearlong index
period; the additional interest can never be less than
Partial surrenders must be for at least $500 with only
one partial surrender per policy year. A $20 transaction charge
will be assessed. Partial surrenders will reduce the specified
amount by the amount of the partial surrender. The specified
amount remaining in force after a partial surrender must be
at least $25,000.
There are four policy classes for the Great Index Universal
Life: preferred non-nicotine, standard non-nicotine, preferred
nicotine, standard nicotine.
The surrender charge schedule is fixed at policy issue
but will change for any changes in underwriting class. A pro-rata
surrender charge will be assessed on decreases or partial
surrenders. Failure to keep the contract to the end of an
index period may result in no index-credited amount for that
A percent of premium expense charge up to target for the
first year only, guaranteed not to exceed 70 percent.
The Great Index Universal Life insurance policy will mature
when the policy owner reaches 100 years of age. The policyowner
may elect to receive the accumulation value at that time.
If the policy owner does not elect to do so, on and after
that date, the death benefit will equal the accumulation value
and no additional cost of insurance will be deducted.
After the first policy year, the policyowner may request
a policy loan. A preferred loan may be taken if the effective
date of the loan is on or after:
10th policy anniversary, if the insured was 55 or younger
on the policy date or
insured's 65th birthday, if the insured was 56-60 on the
policy date or
fifth policy anniversary, if the insured was 61 or more
on the policy date.
preferred policy loan may be made only one time each policy
year. The maximum amount of a preferred policy loan is 15
percent of the cash surrender value at the end of the preceding
on regular policy loans will be 3.85 percent in advance (4
percent if paid at the end of the year). Outstanding loans
will be credited with interest at 2 percent at the end of
each year. Preferred loans will be charged interest at 1.96
percent in advance (2 percent annual effective rate) on a
guaranteed basis, creating a 0 percent annual-net-cost loan.
The options available to Great Index Universal Life policies
of cost of insurance and monthly expense charge
of monthly specified premium
insured term insurance
level term insurance
Under current tax laws, the Great Index Universal Life
accumulates cash value on a tax-deferred basis.