Life insurance products are insurance products and any guarantees are subject to the claims paying ability of the issuing insurance company. Life insurance is suitable for long-term needs, such as death benefit protection and estate planning. Policy loans and withdrawals will reduce the policy's cash value and death benefit, and may cause the policy to lapse. Withdrawals in excess of basis, and the lapse or surrender of a policy with an outstanding loan, may result in taxable ordinary income. If a policy is classified as a modified endowment contract (MEC), distributions are taxable as ordinary income to the extent of gain and, if made prior to age 59 1/2, are subject to a 10% IRS penalty tax. Surrender charges may apply. Variable life insurance is subject to market risk and may lose value.
Rates and discounts listed are not guaranteed. Please check with each organization for accurate pricing and discount requirements. There is no requirement or obligation to purchase insurance from the credit union or any subsidiary, affiliate, or particular unaffiliated third party as a condition to obtaining a loan, and a decision as to insurance agents will not affect the credit terms in any way. The credit union may not condition an extension of credit on an agreement not to obtain, or a prohibition on the applicant from obtaining an insurance product or annuity from an unaffiliated entity. Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not issued, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal government agency.
LPL Financial Form CRS.1
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).
Insurance products are offered through LPL or its licensed affiliates. Lake Trust Credit Union and Lake Trust Financial Life Planning are not registered as a broker-dealer or investment advisor.
Registered representatives of LPL offer products and services using Lake Trust Financial Life Planning, and may also be employees of Lake Trust Credit Union.
These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Lake Trust Credit Union or Lake Trust Financial Life Planning. Securities and insurance offered through LPL or its affiliates are:
- Not Insured by NCUA or Any Other Government Agency
- Not Credit Union Guaranteed
- Not Credit Union Deposits or Obligations
- May Lose Value
Your Credit Union (“Financial Institution") provides referrals to financial professionals of LPL Financial LLC (“LPL") pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services.
Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html1
This website may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting, or tax advice. You may wish to consult an attorney, tax advisor or accountant regarding your specific situation. No representations are made as to the accuracy of the information contained herein or any information contained in any link provided herein.
LPL Financial’s Privacy Policy1
1Third party website. Lake Trust Credit Union is not responsible for the content, availability, security or compliance of any linked third party websites. In addition, the site’s privacy policies may differ from those of Lake Trust.
Important Consumer Information:
This site is for informational purposes only and is not intended to be a solicitation or offering of any security and;
1. Representatives of a broker/dealer (“BD”) or investment advisor (“IA”) may only conduct business in a state if the representatives and the BD or IA they represent (a) satisfy the qualification requirements of, and are approved to do business by, the state; or (b) are excluded or exempted from the state’s licensure requirements.
2. Representatives of a BD or IA are deemed to conduct business in a state to the extent that they provide individualized responses to investor inquiries that involve (a) effecting, or attempting to effect, transactions in securities; or (b) rendering personalized investment advice for compensation.
