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Life Insurance Products |
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10 PAYMENT LIFE POLICY
The 10 Payment Life Policy requires annual
premium payments for a period of 10 years, after
which time the member is entitled to all
membership rights and not subject to paying any
further dues. Applicants must be age 0 through
age 80. Face amounts from $3,000 to $1,000,000
can be issued.
15 PAYMENT LIFE POLICY
The 15 Payment Life Policy requires annual
premium payments for a period of 15 years, after
which time the member is entitled to all
membership rights and not subject to paying any
further dues. Applicants must be age 0 through
age 80. Face amounts from $3,000 to $1,000,000
can be issued
20 YEAR PAYMENT LIFE POLICY
The 20-Year Payment Life Policy requires annual
premium payments for a period of 20 years, after
which time the member is entitled to all
membership rights and not subject to paying any
further dues. Applicants must be age 0 through
age 80. Face amounts from $5,000 to $1,000,000
can be issued.
15 PAY INTEREST SENSITIVE WHOLE LIFE
POLICY
The 15 Pay Interest Sensitive Whole Life Policy
accumulates interest on the cash value annually
at the interest rate set by the Supreme Board of
Directors. Applicants must be age 0 through age
80. Face amounts from $1,000 to $1,000,000 can
be issued.
LEVEL TERM INSURANCE
Level Term Insurance is much less expensive than
you would pay for a permanent life insurance. It
is designed for temporary needs, measurable in
time as well as death benefit. Temporary needs
could include a term mortgage, business loan,
education funding, or provide income for a
spouse until retirement. The death benefit of a
level term insurance policy remains the same
during the term of the contract. The Level Term
was designed to meet a constant need. The
premium is also constant during the life of the
policy. Level Term Insurance is a very
affordable way of obtaining security and peace
of mind. If you would like more information on
this product or if you would like to make an
appointment to have an S.E.S. Marketing
Representative assist you, please contact our
office at 1-800-248-1895.
Applicants must be age 20 through age 65 for
a 10 year term, age 20 through age 55 for a 15
year term and age 20 through age 50 for a 20
year term Face amounts from $50,000 to
$1,000,000 can be issued. Smoker and Non-Smoker
rates.
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Annuities |
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SINGLE PREMIUM DEFERRED
POLICY
Single Premium Deferred Annuity Policy requires
a minimum premium deposit of $10,000 with a
maximum combined premium deposit of $25,000 and only one
initial premium deposit can be made. No
additional funds can be deposited by the
annuitant into this policy. Annual membership
dues of $10 will be assessed. Early withdrawal
of any or all funds deposited, except
accumulated interest, are subject to the
following scale of surrender charges: 1st year
5%; 2nd year 4%; 3rd year 3%; 4th year 2%; 5th
year 1% and 0% for all subsequent years.
FLEXIBLE PREMIUM DEFERRED
POLICY
Annual Premium Deferred Annuity Policy requires
a minimum premium deposit of $500 with a maximum
annual premium deposit of three times the
initial amount not to exceed $10,000. Maximum
combined account amount of $25,000. As an
option, premium deposits can be made at a
minimum of $50 per month. Annuitants are not
required to deposit premiums on an annual basis.
Annual membership dues of $10 will be assessed.
Early withdrawal of any or all funds deposited,
including accumulated interest, are subject to
the following scale of surrender charges of the
current account balance: 1st year 5%; 2nd year
4%; 3rd year 3%; 4th year 2%; 5th year 1% and 0%
for all subsequent years.
(Annuitants who withdraw any
or all funds deposited prior to age 59 ½ are
subject to Federal and State tax penalties
according to law.)
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Real Estate Loans |
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The S.E.S may offer a real estate loan
secured by a first deed of trust up to a maximum
of twenty-five (25) years:
- To a qualified member a maximum loan
amount of $500,000 and not to exceed
seventy-five percent (75%) of the current
appraised value.
- To a subordinate council a maximum loan
amount of $500,000 and not to exceed
seventy-five percent (75%) of the current
appraised value of owned improved real
property.
- To a non-member a maximum loan amount of
$500,000 and not to exceed seventy percent
(70%) of the current appraised value.
Loans may be made to individuals to refinance
or purchase an owner or non-owner occupied
single family residence, duplex, triplex or
fourplex.
The Board of Directors shall determine the
loan interest rate.
The funds shall be disbursed to a reputable
title company to close escrow.
Loan payments shall be paid in monthly
installments on a fully amortized basis.
A loan applicant may be subject to the
following fees:
- A certified appraisal by an appraiser
designated by the S.E.S.
- Termite inspection report
- Credit report
- Preparation of final loan documents by
the S.E.S. Legal Advisor
- Applicable closing costs
A S.E.S. elected officer or employee is not
eligible to apply for a real estate loan
(California Insurance Code Section 11162)
For additional information, details, and the
current rate, please feel free to call the S.E.S.
Home Office at:
1-800-248-1895 or 408-248-3788
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Download an Application Form ]
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