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Product Highlights: |
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Issue Ages: |
Non-tobacco: 0 through 80 |
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Minimum Face Amount: |
$10,000 for issue ages 0 through 54 |
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Coverage: |
To age 121 |
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Policy Fee: |
$75 |
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Dividend Options: |
Paid in cash each year, buy paid-up additions, and reduce loans with excess to buy paid-up additions |
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Automatic Rider Where Approved: |
Accelerated Death Benefit Rider - Terminal Illness Option: Up to 75 percent of net amount of insurance. Subject to a $250,000 overall limit; OR Long-Term Care/Home Care Option: Over age 65, up to 50 percent of net amount of insurance; or, 36 monthly payments of 2 percent of net amount of insurance. |
This policy is for older individuals buying a guaranteed death benefit with a single payment. It appeals to the early retiree market where the buyer wants to leave an estate but doesn’t want to budget premiums into current lifestyle. It creates a modified endowment contract, but if held until death there is no adverse tax impact. The policy is an alternative to taxable fixed investments. It is a true single-premium purchase with guaranteed contract maturity and has the lowest cost of our permanent life insurance per thousand. Individuals can purchase additional coverage within the first six months, if the policy is underwritten with the initial application.
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