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)
