Union of Poles in America

Members who hold life insurance certificates direct payments to be made to their beneficiaries when the Members die. Members who hold annuity contracts direct payments to themselves while they live. Simply put, an annuity is a contract that allows a Member to receive a monthly income for the rest of his or her life. The amount of monthly payment depends on the amount that the Member invested in the annuity and the interest that built on the money he or she had invested.

The annuity can be thought of as two products in one. First, it is a way to invest money. The cash builds up through the years of investment until the Member starts to cash it out. At retirement, the Member directs UPA to pay out the account in monthly payments for the rest of his life.

These statements are very general and do not give the entire picture of how annuities work and why UPA is offering them to its Membership. The following pages describe more specifically what annuities are and how they operate.

We believe that once you have read this material, you will be able to sell annuities to the Members. We also feel that you will be enthusiastic about doing so. Skeptical? Go to the Flexible Premium Deferred Annuity Contract (ANN-2001) page.