|
Base Policy
|
Premium Period
|
Non-Tobacco $1M *
|
Non-Tobacco $3M *
|
Tobacco $1M *
|
Tobacco $3M *
|
Conversion Period
|
|---|---|---|---|---|---|---|
|
ART
|
1 Year
|
65.0
|
59.5
|
65.0
|
59.5
|
Earlier of the 10th anniversary and the age 65 anniversary. Minimum conversion period to the 5th anniversary.
|
|
10
|
10 Years
|
65.0
|
59.5
|
65.0
|
59.5
|
Earlier of the 10th anniversary and the age 65 anniversary. Minimum conversion period to the 2nd anniversary.
|
|
15
|
15 Years
|
65.0
|
59.5
|
65.0
|
59.5
|
Earlier of the 10th anniversary and the age 65 anniversary. Minimum conversion period to the 2nd anniversary.
|
|
15 ECP
|
15 Years
|
54.0
|
54.0
|
54.0
|
54.0
|
Earlier of the 15th anniversary and the age 65 anniversary.
|
|
20
|
20 Years
|
65.0
|
59.5
|
65.0
|
59.5
|
Earlier of the 10th anniversary and the age 65 anniversary. Minimum conversion period to the 2nd anniversary.
|
|
20 ECP
|
20 Years
|
54.0
|
54.0
|
54.0
|
54.0
|
Earlier of the 20th anniversary and the age 65 anniversary.
|
|
25
|
25 Years
|
60.0
|
59.5
|
55.0
|
55.0
|
Earlier of the 10th anniversary and the age 65 anniversary.
|
|
25 ECP
|
25 Years
|
54.0
|
54.0
|
54.0
|
54.0
|
Earlier of the 20th anniversary and the age 65 anniversary.
|
|
30
|
30 Years
|
55.0
|
55.0
|
50.0
|
50.0
|
Earlier of the 10th anniversary and the age 65 anniversary.
|
|
30 ECP
|
30 Years
|
54.0
|
54.0
|
44.0
|
44.0
|
Earlier of the 20th anniversary and the age 65 anniversary.
|
* The maximum allowable death benefit is limited by the actual insurance age and health risk group of the proposed insured.
The monthly or annual cost remains the same for the term of the life insurance policy.
The face value remains the same for the term of the life insurance policy.
The term life insurance policy is automatically renewed annually (with an increase in premium) upon the end of the premium period.
The term life insurance policy can be converted to a whole life insurance policy within the conversion period. $100,000 of death benefit for a term life insurance policy must remain upon conversion to avoid termination of coverage.
The policyowner is indemnified with an advance of the death benefit when the insurer receives satisfactory proof that the insured has a terminal illness expected to result in death typically within two years or less.
The term life insurance policy can be surrendered partially or fully for a whole life insurance policy within the extended conversion period. $100,000 of death benefit for a term life insurance policy must remain upon conversion to avoid termination of coverage.
If the insured has been totally disabled (as defined in the contract) for six continuous months, then the insurer will waive future premiums and/or refund prior premiums (as specified in the contract).