VIEWS: 6 PAGES: 2 POSTED ON: 10/17/2012
Graded Whole Life (Final Expense) Carrier Plan Competitive Advantage Key Product features Important Uses * If death due to natural causes occurs * Issue ages: 40 through 80 This is a non-participating whole life insurance during the first year of coverage, the * Face amounts: $5,000- $35,000 policy with level, guaranteed premiums through benefit is limited to 40% of the face * Policy fee: $25, commissionable maturity at age 121. The graded death benefit plan Graded Benefit Whole Life amount. If death occurs during the 2nd * Premiums: Level, guaranteed and based has a reduced death benefit for the first two years year, the benefit is limited to 75% of on issue class, gender and issue age. the policy is in force. the face amount. After 2nd year, the * Payment modes: Annual, semi-annual, "A.M. Best Company: A-" full face amount is payable. quarterly, monthly bank draft and list bill. Errors and Omissions required * For death due to natural causes, benefit * Issue ages: 40 through 80 This is a non-participating whole life insurance is limited to 110% of the annual premium * Face amounts: $5,000- $25,000 policy with level, guaranteed premiums through amount in year one of coverage, and 220% Male/Female;Selec non-tobacco, tobacco maturity at age 121. The modified death benefit Modified Benefit Whole Life return of the annual premium amount in * Policy fee: $25, commissionable plan has a reduced death benefit for the first two year two of coverage. After the second * Premiums: Level, guaranteed and based years of coverage. year, the full face amount is payable. on issue class, gender and issue age. "A.M. Best Company: A-" * Payment modes: Annual, semi-annual, Errors and Omissions required quarterly, monthly bank draft and list bill * If you have experienced health problems, * There are no exams, no tests, no waiting Graded Death Benefit Whole Life is a level death this product is designed to provide up to periods and processing delays. benefit after year 2, level premium whole life $250,000 of life insurance coverage. * Insurance depends only on the answers policy paid up to age 120. It provides cash values Graded Death Benefit Whole Life * Coverage increases in years one and two to a few health questions. and standard non-forfeiture options such as loans, with full coverage starting in year three. * Rapid decision-making process. paid-up insurance and automatic premium loan "A.M. Best Company: A-" (APL). Errors and Omissions required * Full death benefit paid in 1st 2 years if * Minimum Face amount: $2,000 Non-Med; accidental death occurs. * Maximum Face amount: $25,000 Graded Benefit; * Faxable application * Issue ages: 25-80/45-80 (CA) Endows at age 121. Express Issue Whole Life * Modal factors: Monthly (PAC): 0.093 * Policy Fee: $50.00 (Commissionable) Quarterly: 0.27, Semi-Annually: 0.53 * Underwriting categories: Non-Tobacco & * 16 tables issued standard Tobacco. "A.M. Best Company: A-" * Simplified issue * Graded Death benefit. Errors and Omissions not required * No increase of premiums * Issue Ages: 50-85 This Final Expense program can help you and your * No decrease of Death Benefit * Minimum Face Amount: loved ones with last expenses: medical bilss, fune- * No Medical Exam - Age 50-75 --> $5,000 ral expenses, probate expenses, administrative ex- * Cash Accumulation Values - Age 76-85 --> $5,000 penses, and outstanding debts. Final Expense * Easy, short application- The application contains * Maximum Amount/No Medical Exam You may choose this program to provide a donation only seven medical questions - Age 50-75 --> $25,000 to your favorite charity or church. - Age 76-85 --> $15,000 Errors and Omissions required * If death occurs during: * Adults aged 45-85 can get from $5,000 to Not sure you have enough family protection? 1) First certificate year- the premiums paid will be $15,000 of coverage with NO medical exams This plan is for clients who just want to make sure returned without interest. and rates that don't go up! they have it covered. Graded Death Benefit Guaranteed 2) 2nd certificate year- The Death Benefit is 50% of * You are guaranteed this insurance if you can With this plan, people aged 45-85 can get a little Issue Plan the face amount. make the following statements in the app: bit more. 3) 3rd certificate year- The Death Benefit is 75% of 1) "I am not confined to a bed, or in a hospital, the face amount. clinic, rest or convalescent home". 4) 4th certificate year or thereafter- The Death 2) " I have not been diagnosed or treated by a Benefit is the face amount. licensed medical doctor for AIDS or AIDS * If Death in the first, second or third results directly related complex (ARC). from accidental bodily injury, the death benefit will be the face amount. Errors and Omissions required * Policy contains an increasing death benefit * Durint the first TWO YEARS the Death Benefit The Provider Plus is a simplified issue graded death with premiums payable to age 98. is the sum of premiums paid to date plus 10% benefit whole life insurance policy. Provider Plus * Full face amount payable to your beneficiary interest. or the funeral home designated by your On and after the THIRD YEAR the Death Bene- beneficiary. fit is 100% of the face amount of the policy. "A.M. Best Company: A" * Death Benefit is federal income tax free to If the insured dies by an accidental death in the "Moody's Investors Service: Good" your beneficiary under IRS Code 101 (a). first 2 years, the full face amount is payable. "Standard & Poor's: AA-" * Insurance proceeds generally bypass Probate * Maximum Face Amounts: Court if payable to a named beneficiary. Max Face Amounts from age 45-65: $25,000 * You may borrow the guaranteed cash value for Max Face Amounts from age 66-70: $20,000 emergencies. Max Face Amounts from age 71-75: $15,000 * Your premiums will never increase for any reason. Max Face Amounts from age 76-85: $10,000 * Your policy cannot be cancelled because of age or * It is important to ask and record accurately the Errors and Omissions not required health, only for non-payment of premiums. answers to all questions on the application.
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