Presidential Life is a New York domiciled life insurance company. We are primarily regulated by the New York State Insurance Department and the SEC. However, other states in which we do business also regulate our activities.
FDIC Insurance guarantees funds deposited into a Bank. Although your money is not FDIC insured, it is very safe at Presidential Life. You are backed by $3.7 billion in assets.
Presidential Life is a very strong insurance company that is backed by $3.7 billion in assets. As a New York Domiciled Life insurance company, we are regulated by the toughest state insurance department in the country. In the highly unlikely event Presidential Life were to fail, life and annuity policy holders have protection granted to them under the State consumer protection laws. Please contact the Department of Insurance in the state in which you reside for a summary of these protections.
We distribute all of our annuity products through knowledgeable independent insurance agents. Since our contracts don’t charge an upfront fee or a sales charge, there is no advantage trying to come direct to Presidential. We highly recommend you deal directly with one of our knowledgeable agents when purchasing any of our products.
Fixed annuity contracts are tax deferred contracts issued by a life insurance company that offer a guaranteed rate of return. These contracts offer a competitive guaranteed interest rate with no risk to the consumer. Generally, these types of contracts don’t charge an upfront fee or sales charge.
Variable annuity contracts are tax deferred contracts issued by a life insurance company that offer stock market type sub-accounts to invest in. These sub-accounts generally fluctuate up and down daily based upon the performance of the stock & bond markets. The client assumes all the investment risk in this type of contract. On average, most Variable annuity contracts have an annual Mortality and Expense fee of 1.25% -- 1.55%, Fund management fee of .5% – 1.25% and more fees for any other benefit riders. Average fees in a variable annuity can run 3.5% to 5.75% annually. OR Most Variable annuity contracts have annual fees that include a mortality & expense fee, sub account management fee, enhanced death benefit fee & a living benefit fee.
No. These contracts are designed to produce income and protect the integrity of the payment. Once established, they are irrevocable and non-commutable back to a lump sum payment.
No. Presidential Life has procedures in place to protect against unauthorized withdrawals or the release of contact information.
Yes, you must simply complete the authorization form for EFT Electronic Funds Transfer and your monthly income will be send automatically to your bank account.
Probate is a legal process where the court determines (under State laws) how one’s estate is distributed upon death in the absence of a will. One advantage of Annuity and Life insurance death benefits is that they avoid probate and pass directly to a named beneficiary.
Yes, we offer guaranteed issue coverage as long as you are not a patient or a resident in any form of healthcare or nursing home facility..
No, our life insurance policies are issued without these types of invasive procedures.