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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




 
   
 
 

 

 

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