Torchmark will guarantee the payments of the distributions on the TOPrS to the extent described in this prospectus supplement and the accompanying prospectus.
The assets of Capital Trust III will consist solely of Torchmark?s junior subordinated debentures maturing on June 1, 2046 (the Ùdebenturesˆ). Torchmark will pay interest on the debentures at the rate of 7.100% per year on March 1, June 1, September 1 and December 1 of each year, beginning on September 1, 2006, except that it may defer interest payments as described in this prospectus supplement. Any deferred interest on the debentures will accrue additional interest at an annual rate of 7.100%, compounded quarterly, to the extent permitted by law. If Torchmark defers interest payments on the debentures, Capital Trust III will defer distribution payments on the TOPrS for the same deferral period. Any deferred distributions on the TOPrS will accumulate additional distributions at an annual rate of 7.100%, compounded quarterly, to the extent permitted by law.
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Globe Life is an insurance holding company. Through its subsidiaries, Co. provides life and supplemental health insurance products and annuities. Co. is organized into four reportable segments: Life Insurance, in which Co.'s insurance subsidiaries write a variety of nonparticipating ordinary life insurance product, including whole life, term life, and other life insurance; Supplemental Health Insurance, which provides Medicare Supplement and limited-benefit supplemental health insurance products that include critical illness and accident plans; Annuities, which includes single-premium and flexible-premium deferred annuities; and Investments, which consists of investment-grade securities. Preferreds: TMK.PRA, TMK.PRB, GL.PRC Open the GL Information Page » |
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