Are there different types of policies available?
Yes, ELCO Mutual offers both level and modified death benefits.
The level benefit is simplified issue, which means you only have to answer a few questions to determine your eligibility. This policy includes face amounts of $2,500-$35,000; an immediate, guaranteed death benefit; and an available single pay life rider to enhance your coverage.
The modified benefit is available if you have certain health conditions that prevent you from qualifying for the standard coverage. This policy includes face amounts of $2,500-$25,000 and a return of premium plus 10% interest for the first two policy years, with the full benefit beginning in year three.
Both policies are participating, meaning they are eligible for dividend growth.