|
Universal Life Insurance
Product Features
-
Coverage amount can be selected based on either the premium contribution or the death benefit.
-
Spouse, children’s and grandchildren’s coverage available, even if member does not get coverage
-
Income
earned on the cash value grows tax-deferred (under current law).
Guaranteed rate 4%; current rate adjusts based on economic conditions
-
Accelerated Benefits Rider included at no additional cost
-
Inflation Fighter Rider available—guarantees coverage increases for the first five policy years
-
Coverage is portable; members can keep their coverage if they change jobs or retire
-
Loan options
-
Choice of benefit payment options (lump sum or periodic payments)
-
Rates are issue age based and do not increase for the term of the policy
-
Unisex rates for each age
-
Smoker/non-smoker rates
Benefits Amounts
-
Member benefit amounts from $10,000 to $250,000 CGI up to $150,000 or $15 per week
-
Spouse: $50,000
-
Child/grandchild: $5,000, $10,000 or $20,000
Eligibility
-
Member/spouse issue ages: 18–70 years
-
Children and grandchildren issue ages: 11 days–17 years( 23 if full-time student in secondary school)
-
Rates are issue age based and do not increase for the term of the policy
-
Unisex rates for each age
-
Smoker/non-smoker rates
|