Life's Solutions provides a great combination of guarantees and flexibility. It's a permanent policy with level premiums, level death benefit and high guaranteed cash values. Premiums are payable to age 90, but your agent can help you plan ahead and achieve a paid-up policy in just 20 years by using the guaranteed cash values. Life's Solutions is available in face amounts from $20,000 to $500,000 and the wide variety of riders allows for customized coverage to fit family needs:
- The Accidental Death Benefit Rider pays an additional benefit equal to the face amount of the policy, up to a maximum of $250,000, if the insured dies by accident before age 100.
- The Children's Term Insurance Rider, also known as the "Grandchild Rider," provides individual convertible term coverage on a child or grandchild. Up to 20 riders can be added to a policy. Coverage stays in force to each child's age 25 and can be converted to a permanent policy up to the rider amount at ages 22 to 25, or up to five times the rider amount when rider coverage ends.
- The Guaranteed Purchase Option Rider allows the insured to increase their coverage on specified dates without further evidence of insurability, regardless of changes to their health.
- The Living Benefit Riders allow the policyowner to receive an advance benefit payment if the insured is diagnosed with a qualifying condition. There are three Living Benefit Riders: the Terminal Illness Rider, Critical Illness Rider and Chronic Illness Rider, and all three are available at no additional premium charge. Receipt of accelerated benefits may affect eligibilty for public assistance and may be taxable.
- The Primary Insured 10, 20 or 30 Year Renewable Level Term Rider provides convertible term coverage with level premiums for the first 10, 20 or 30 years and can be renewed to age 90 at renewal premiums.
- The Other Insured 10, 20 or 30 Year Renewable Level Term Rider provides convertible term coverage for up to three additional insureds in whom the policyowner has an insurable interest. Each rider can have level premiums for the first 10, 20 or 30 years and can be renewed to age 90 of the primary insured.
- The Waiver of Premium Rider waives all premiums if the insured is totally disabled for six months or more. The rider terminates at age 65, but if the disability begins before age 60, premiums will continue to be waived until the disability ends.
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This describes Policy/Rider Form Nos. 1F602-CL, 1H871-CL, 1H884-CL, 1H906-CL, 1H907-CL, 1H908-CL, 1H910-CL, 1H922-CL, 1H923-CL, 1H924-CL and 1H925-CL or state variation. Product specifications and availability may vary by state.