Centuries Mutual Permanent Life™
Protect your family today, secure your income tomorrow.
A complete financial solution that evolves with your life — from protecting your mortgage and loved ones to funding guaranteed retirement income.
Two Stages of Life, One Smart Strategy
Our Permanent Life offering adapts to your changing needs through life's journey
Stage 1: Protection Years
During your working years, your Permanent Life policy provides crucial death benefit protection for your family. Cover your mortgage, children's education, and family expenses while building cash value tax-deferred.
- Death benefit protection
- Tax-deferred cash value growth
- Mortgage & family coverage
Stage 2: Income Years
After your mortgage is paid and protection needs decrease, convert your policy's cash value into a guaranteed income stream for retirement. Enjoy financial security when you need it most.
- Guaranteed lifetime income
- Tax-advantaged conversion
- Retirement income security
How the Life-to-Annuity Conversion Works
A seamless transition from protection to income
Build Your Foundation
Start with a Whole Life, Universal Life, or Indexed Universal Life (IUL) policy. Your policy builds cash value over time while protecting your family.
Life Changes
Your mortgage is paid off, kids are grown, and you're approaching retirement. You no longer need as much life coverage but want guaranteed income.
Convert to Income
Use your cash value to fund an annuity through an IRS 1035 exchange. Enjoy tax-advantaged, guaranteed lifetime income for retirement.
IRS Section 1035 Exchange
The Key to Tax-Advantaged Conversion
This powerful IRS provision allows you to exchange your life insurance policy for an annuity without paying taxes on the gain — as long as the exchange is direct and compliant.
This means you preserve the full value of your policy for retirement income, without losing a significant portion to taxes in the conversion process.
💡 No taxes on conversion when done properly under 1035 exchange rules
Benefits of the 1035 Exchange
- Tax-free transfer: No immediate tax consequences on policy gains
- Full value preserved: Your entire cash value works for your retirement
- Direct exchange: Seamless transition from life insurance to annuity
- IRS compliant: Follows federal tax code for maximum benefits
Permanent Life Policy Options
Choose the policy that best fits your needs
Whole Life Insurance
Traditional permanent coverage with guaranteed cash value growth and fixed premiums. Predictable and stable.
- ✓ Fixed premiums
- ✓ Guaranteed cash value
- ✓ Lifetime protection
- ✓ Potential dividends
Universal Life Insurance
Flexible permanent coverage with adjustable premiums and death benefits. Adapts as your life changes.
- ✓ Flexible premiums
- ✓ Adjustable death benefit
- ✓ Cash value accumulation
- ✓ Policy loan options
Indexed Universal Life (IUL)
Growth potential tied to market index performance with downside protection. Best of both worlds.
- ✓ Market-linked growth
- ✓ Downside protection
- ✓ Flexible premiums
- ✓ Higher cash value potential
Why Choose Centuries Mutual?
A mutual structure that puts members first
Member-Owned
No shareholders, just policyholders. Your interests come first.
Financial Strength
Decades of stability and commitment to our members.
Complete Solution
One strategy that covers every stage of your life.
Tax Advantages
Maximize your wealth with smart, tax-efficient strategies.
Ready to Protect Your Family & Secure Your Future?
Discover how Permanent Life can provide protection today and guaranteed income tomorrow.