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