Slovene National

The Slovene National Benefit Society is a non-profit insurance organization founded in 1904 aimed at providing insurance plans for the local community, namely in Pittsburgh, Pennsylvania. It offers a wide range of products that include Whole Life, Term Life, Annuities, and IRA plans. Some product descriptions include: 1) Whole Life: Whole life insurance is the most common type of permanent insurance. The policy provides a guaranteed death benefit along with guaranteed cash values. Part of each premium payment is applied to the policy's cash value account, which grows on a tax-deferred basis. 2) Term Life Insurance: Term life policies pay only a death benefit and build no cash values. The coverage lasts only as long as the policy stipulates (e.g., 5, 10, 15, or 20 years). 3) Fixed Annuity: A fixed annuity provides defined growth of principal and interest, free from taxes until money is withdrawn. Fixed annuities generally guarantee a fixed amount of interest for several years; others guarantee rates from one to three years, and renew at the option of the insurance company. 4) Variable Annuity: Variable annuities are designed for people willing to take more risk with their money in exchange for greater growth potential. While there is more risk associated with a variable annuity, many variable annuities offer guarantees of principal and downside protection at an additional cost (depending on contract rider availability). 5) Flexible Premium Deferred Annuity (FPDA): An FPDA is a tax-deferred annuity that will accept multiple premium payments while the annuity is in an accumulation period. FPDA annuities may accept salary reduction payments, bank draft or pre-authorized check plan payments, transfers, rollovers, and single sum direct payments. 6) Single Premium Deferred Annuity (SPDA): An SPDA is a tax-deferred annuity that will only accept a single payment. This payment may be from writing a check directly to the company or through a transfer or rollover. Single Premium Deferred Annuities may be purchased with qualified or non-qualified monies. 7) Single Premium Immediate Annuity: These policies allow clients to immediately convert a lump sum of money into a guaranteed payout for as long as they live. Guaranteed payouts are also available for a certain number of years.