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Accelerated Benefit Riders
The Accelerated Benefit Riders allow you to
receive a discounted accelerated benefit in lieu
of an eligible insured’s death benefit if
the insured has a qualifying medical condition.
There are no premiums for these riders; however,
the accelerated benefit payment will be less than
the death benefit because it is paid prior to
the death of the insured. Receipt of an accelerated
benefit payment may be a taxable event. You should
consult a tax advisor regarding the tax status
of any benefit paid under this Rider. Accelerated
benefits may affect your eligibility for Medicaid,
supplemental security income, or other government
benefits or entitlements. The Accelerated Benefit
Riders may not be available in all states and
on all products.
Accelerated Benefit Rider for Terminal
Illness (Form ABR11-TM)
This rider provides for the payment of an accelerated
benefit if an eligible insured has an illness
or chronic condition that is reasonably expected
to result in death in 24 months or less.
Accelerated Benefit Rider for Chronic
Illness (Form ABR11-CH)
This rider provides for the payment of an accelerated
benefit if an eligible insured is unable to perform
two out of six activities of daily living (bathing,
continence, dressing, eating, toileting, or transferring)
or is cognitively impaired.
Accelerated Benefit Rider for Critical
Illness (Form ABR11-CT)
This rider provides for the payment of an accelerated
benefit if an eligible insured experiences a critical
illness described in the rider after the issue
date. Covered critical illnesses may include heart
attack, stroke, invasive cancer, end stage renal
failure, major organ transplant, ALS, blindness,
paralysis, arterial aneurysms, central nervous
system tumors, major multi-system trauma, AIDS,
severe disease of any organ, severe central nervous
system disease, major burs, or loss of limbs.
Please see the rider for a complete list of covered
critical illnesses and their definitions.
Accelerated Death Benefit Rider (Term)
The Accelerated Death Benefit will advance part
of the death benefit to the owner with a written
proof of a terminal illness, where the insured
has less then 12 months to live. The benefits
will be lesser of 50% of the eligible death benefit
or 250,000. This rider available on term policies
for no additional premium in states where the
rider has been approved. (Form ADBR07)
Accelerated Death Benefit Rider
The Accelerated Death Benefit Rider is available
on permanent policies that are currently not eligible
for the Accelerated Benefit Riders listed above.
For policies with death benefits of $25,000 or
greater, the initial Accelerated Death Benefit
will be 50% of the eligible death benefit or $250,000,
whichever is less. Subsequent accelerated benefits
may be advanced to cover interest charges or premium
payment. Maximum benefit under this Rider will
be 80% of the eligible death benefits or $400,000,
whichever is less. There is no additional premium
for this rider. (Form ACC91)
Children's Term Rider
Insures each child age 15 days through 18 years
at issue while the benefit is in force. Coverage
on each child terminates at age 25, but each $1,000
of coverage may be converted to as much as $5,000
of permanent insurance without new evidence of
insurability. (Form CTR88)
Spouse Term Rider
Insures your spouse for a specified time. This
term coverage is convertible to a permanent life
insurance policy on the life of the spouse. (Form
SARTR94)
Additional Insurance Option Rider
Makes it possible for you to increase the specified
amount of insurance at specified ages or events
(such as the birth of a child), and allows you
to do so regardless of health, occupation or military
status. (Form GIO90)
Disability Waiver of Premium
Your policy's premium will be waived if you
become disabled. (Disability must be continuous
for at least six months and begin before age 60.)
(Form LPW84)
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Life
