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  3. FINAL EXPENSE
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FAQ - SIMPLIFIED ISSUE

What are the Issue Ages?

 

Benefits Per Age Group

Issue Ages: 50 - 80

50 - 70

50 - 80

81 - 85

Minimum face amount

$3,000

$3,000

$3,000

Minimum face amount - WASHINGTON STATE1

$5,000

$5,000

N/A

Maximum face amount

$35,000

$35,000

$10,000

Maximum face amount - WASHINGTON STATE1

$35,000

$35,000

N/A

Premium Payment Period Options

10 Pay / 20 Pay* / Life

10 Pay / Life

10 Pay / Life

1 WASHINGTON STATE Limited Availability: SIWL is the ONLY FINAL EXPENSE Whole Life Insurance Policy available for Washington State residents. The GDB and MBWL policy options are NOT Available for Washington State residents.
*20 Pay - Only Available for age group 50 - 70

Does this product have an Accidental Death Benefit Rider? (ADB)

Yes. This rider pays a death benefit in addition to the base policy if death is caused by an accident, subject to provisions.
  • Premium per $1,000 face amount
  • Issue Age: 50-60
  • Benefit terminates at attained age 70
  • Available lifetime pay only

Does this product have a Child Insurance Rider?

Yes. This rider pays a $5,000 death benefit on each eligible child.
  • Issue Age: 15 days - 17 years
  • Premium $15 per child, per year (or $1.32 per month)
  • Available on SIWL base policies of $5,000 and over
  • Proposed Insured Child must reside with Proposed Insured at time of the application
  • Proposed Insured may be: Parents or Grandparents NOTE: Foster parents may NOT purchase Life Insurance on foster children
  • Insurable Interest regulations apply
  • Rider terminates when Primary Insured dies, any unearned premiums for this rider will be refunded
  • Convertible at the rider anniversary nearest each child's age 25 without evidence of insurability
  • Convertible to $25,000 Simplified Issue Whole Life Insurance Plan with level death benefits
  • Other restrictions may apply and vary by state

FAQ - GRADED DEATH BENEFIT

What are the Issue Ages?

 

Benefits Per Age Group

Issue Ages: 50 - 85

50 - 80

81 - 85

Minimum face amount

$3,000

$3,000

Maximum face amount

$25,000

$10,000

Premium Payment Period Options

Life

Life

What are the Death Benefits?

Year

Death Benefit

Year 1

30% of sum insured

Year 2

70% of sum insured

Year 3+

100% of sum insured

Is Accidental Death Benefit (ADB) included with this product?

Yes.
  • ADB is included in this policy
  • Death Benefit: 100% total death benefit for Years 1-2 (Not in addition to the 30% or 70%)
  • Death Benefit: NONE for Years 3+

FAQ - MODIFIED BENEFIT

What are the Issue Ages?

 

Benefits Per Age Group

Issue Ages: 50 - 85

50 - 85

Minimum face amount

$3,000

Maximum face amount

$10,000

Premium Payment Period Options

Life

What are the Death Benefits?

Year

Death Benefit

Year 1

Return of Premium + 10%

Year 2

Return of Premium + 10%

Year 3+

100% of sum insured

Is Accidental Death Benefit (ADB) included with this product?

Yes.
  • ADB is included in this policy
  • Death Benefit: 100% total death benefit for Years 1-2 (Not in addition to the ROP + 10%)
  • Death Benefit: NONE for Years 3+