September 10, 2020
As of September 11, 2020, an enhanced version of the Guaranteed Issue Whole Life (GIWL)¹ product will be replacing the currently offered one. This version has a Limited Pay feature, revised premium rates, and a maximum issue age of 80.
September 11th Product Update
Limited Pay Design
Required premium payments will now stop once the insured reaches a specified age as defined in the contract. The maximum payment age will range from ages 82 to 90.
Revised Issue Ages
Ages 50 to 80. (Previously 50-85)
Premium Rates per $1,000² will be increasing by 2.5% for all insureds with the exception of males ages 78 to 80 where there will be a premium decrease.
What’s Not Changing
Guaranteed issue permanent protection: No health questions to answer, no medical tests. Guaranteed acceptance with face amounts from $5,000 to $25,000 available.³
Innovative accelerated benefits included at no additional charge including Chronic Illness and Terminal Illness accelerated death benefit options.*
1 GIWL is a 2-year graded death benefit product. If death occurs in years 1 or 2: 110% of premiums are paid. Years 3+: Full Face Amount.
2 Does not include an annual $24 policy fee.
3 Premiums paid may exceed the amount of coverage. For an estimate of the year, the premiums may exceed the amount of coverage, divide the face amount by the annual premium.
* Chronic Illness rider available in all states except, CA, DC, ME, and NY. Terminal Illness rider is available in all states except CA, ME, and NY.
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