TRADITIONAL WHOLE LIFE
Policy Form # WLP14. *see information below for available states and correct application forms.
Premium-paying ordinary life, participating and non-participating, are the leaders of traditional products. Unlike term life insurance, traditional whole life plans accumulate cash value on a tax-deferred basis over time. This feature provides you with many valuable options.
- Issue ages 6 months through 95.
- The minimum death benefit is $2,500.
- Minimum Premium is $15.00 per month.
- Participating plan. Dividends are scheduled to be paid annually after 2 years. Dividends can be paid in cash, used to purchase paid-up additional coverage, applied to reduce premium payments, of left on deposit to accumulate at interest.
- Policy loans are available on accumulated cash value.
- Automatic Premium Loan available.
- Guaranteed cash value growth.
- Waiver of Premium Rider available. In the event the policy owner is disabled, future premiums will be waived for the duration of the disability provided certain qualifications are met. Available up to issue age 55 with coverage and additional premiums expiring at age 60.
- Accidental Death Benefit Rider available. Provides an additional death benefit in the event that the insured's death is due to an accident. Available up to issue age 65 with coverage and additional premiums expiring at age 70.
* Life Insurance Applications Form # ICC16-LA16 in AL, AR, AZ, CO, GA, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, NC, NE, NM, NV, OH, OK, PA, SC, TN, TX, UT, VA, WI, WV, and WY. Form # LA14 in DE, MT, ND, and SD. Form # LA14-FL in FL.