Whole Life LP95 Member Guide

Your family may be the most important thing in your life. Do you have enough life insurance coverage to protect your loved ones in the event you are no longer able to? Security Mutual’s Whole Life LP95 offers an easy and affordable way for you to purchase life insurance to assist you in safeguarding your family’s future.

In addition to providing death benefits for your family, your policy builds cash value over time that may be available to help you with other financial needs. Let Security Mutual help you face the future with confidence!

Exploring Your Options

Guaranteed Coverage

With guaranteed coverage (provided eligibility requirements are met*), guaranteed premiums and strong cash values offered to members on a guaranteed issue basis, Whole Life LP95 makes the process of selecting and maintaining coverage in force a little simpler.

Whole Life for Your Whole Family

Coverage is available for you and your spouse age 18 to 72, and dependent children and grandchildren age 14 days up to and including age 26. And. . . you do not have to purchase life insurance in order to insure family members!**

Flexible Benefits

You can select the death benefit and cash value components to help meet today’s financial goals.

Affordable Rates

Security Mutual Life offers premium rates that vary according to the benefits you choose. Rates start at $2.00 per week.

Convenient Premium Payment

Premiums are collected simply and easily through deductions. This means no insurance bills to watch for or checks to mail.

Permanent Insurance Protection

Once your insurance application has been approved and deductions have started, the policy is yours to keep by continuing to pay premiums, even if you have a change in health.

Guaranteed Cash Values

Whole Life LP95 contains a guaranteed cash value feature. Payment of the scheduled premiums will produce guaranteed cash values that can be used for any purpose. Cash values can be accessed by policy loan. Please see the loan section of your policy for details.


In addition to cash values, Whole Life LP95 is eligible to share in any dividends declared by the Company’s board of directors, provided the policy premiums are paid in full. Dividends are a return of premium and are not taxable as long as the dividends received do not exceed the premiums paid. Policy owner dividends are not guaranteed.

Paid-Up Coverage

Upon retirement, you have the option to elect paid-up coverage in a reduced amount and cease ongoing premium payments.

Serving Our Customers

The word “service” may be just a buzz word in the marketplace, but at Security Mutual Life we take it to heart.

For more than 130 years we have stood by our commitment to help meet the needs of our policy owners through quality service and products. Customer Service is provided through a team of dedicated professionals and is available Monday through Friday from 7:30 a.m. to 6:00 p.m. EST by calling 888-722-8645.

*To be eligible, members must be continuously employed for pay at the regular place of business of the sponsoring organization for 17 1/2 hours or more per week in the 90-day period prior to applying, and be performing all the duties of his or her regular occupation. Guaranteed Issue limits are established by Security Mutual.

**Coverage on spouse and children requires answers to health-related questions. The issuance of the policy or payment of benefits may depend on the answers provided in the application and the truthfulness thereof.

Check out the extras! Whole Life LP95 not only provides a death benefit but also offers a host of optional supplemental benefits and riders, some of which can provide access to policy values while the insured is living.

Chronic Illness Accelerated Death Benefit Rider

This rider allows access to precious resources should the insured become chronically ill—a time when such resources may be needed most. This living benefit is available on policies insuring the member and/or the member’s spouse, children and grandchildren.

The benefit allows the policy owner to accelerate up to a maximum of 25% of the face amount of the policy each year until a residual death benefit of $5,000 remains.*

Access to early distribution of the death benefit can be requested if the insured suffers from a chronic illness** requiring continuous care for the remainder of his or her life in an eligible facility or at home and (i) is unable to perform two of the six Activities of Daily Living (ADLs)—bathing, continence, dressing, eating, toileting and transferring— due to a loss of functional capacity, or (ii) if he or she has a severe cognitive impairment that requires substantial supervision by another person to protect him or her from threats to health and safety.

There is no separate premium charge to add this rider.

Eligibility requirements apply. Payments made under this rider may be taxable depending on the insured’s circumstances, and anyone applying for benefits should consult with his or her tax advisor.

* Benefit availability may vary by state.

** The Definition of Chronic Illness may vary by state.

Rider Form Nos. IO-9335-NY-WL; ICC15-IO9335-WL; Series IO-9335-WL n

Terminal Illness Options Accelerated Benefit Rider

Under this rider, the policy owner may access up to 75% of the policy’s death benefit if a physician determines that the insured is terminally ill (life expectancy of 12 months or less).* There is no charge for this rider, and it can be added at issue or at any time during the life of the policy. It is available on policies insuring the member and/or the member’s spouse, children and grandchildren, with issue age of 14 days up to and including age 72. Receipt of accelerated death benefits may be taxable and may affect eligibility for public assistance programs.

* Provisions may vary by state.

Rider Form Nos. IO-9337-NY; ICC15-IO9337; Series IO-9337; IO-9107-CA-D

Waiver of Premium Benefit in Event of Total Disability Rider

The waiver of premium benefit waives the premium on the policy to which it is attached in the event the insured becomes totally disabled as defined in the rider for a continuous period of at least 6 months. This benefit is available on policies insuring the member, the member’s spouse and any children.

* The definition of Total Disability may vary by state.

Rider Form Nos. IO-9364-NF-WSWP-NY-A; ICC15-IO9364-WSWP; Series IO-9364-WSWP

20 Year Level Term Insurance Rider

This rider is a cost-effective way to add additional coverage to the permanent base plan. This rider adds term life insurance coverage that will remain level for a period of 20 years or until rider termination as defined in the rider form.

Prior to termination, the policy owner can choose to either reduce the weekly premium to the amount needed to support the base plan of insurance, or convert the coverage to a new permanent plan of life insurance coverage with no health-related questions required. This coverage is available on policies insuring the member and/or the member’s spouse from age 18 up to and including age 50 (age 60 in New York).

An amount of term insurance equal to the coverage selected under the base plan can be added.

* May be converted to the existing Whole Life LP95 policy or comparable life insurance plan then available that uses similar underwriting and issuance criteria.

Rider Form Nos. IO-9366-NF-WSLTR-NY; ICC15-IO9366-WSLTR; Series IO-9366-WSLTR

Dependent Children’s Insurance Benefit Rider

This rider is a cost-effective way to insure all children of the insured. The rider is available on a policy insuring either a member or the member’s spouse from age 18 up to and including age 60. It may be added to the base policy, and provides coverage for all the insured’s unmarried, dependent children age 14 days up to and including age 24.

The policy owner can elect a minimum of $1,000 to a maximum of $25,000 of coverage in $1,000 increments. If the policy owner elects this rider, future born children of the insured will be covered automatically from age 14 days up to the rider anniversary after such child’s 25th birthday with no increase in premium. The weekly premium is $.11 per $1,000 of coverage.

This rider can be converted up to the child’s age of 25 to a permanent policy in an amount not to exceed 5 times the rider benefit or $25,000 (whichever is less) without Evidence of Insurability.

* May be converted to the existing Whole Life LP95 policy or comparable life insurance plan then available that uses similar underwriting and issuance criteria.

Rider Form Nos. IO-9367-NF-WSCR-NY; ICC15-IO9367-WSCR; Series IO-9367-WSCR

Accidental Death Benefit Rider (ADB)

This optional benefit provides an additional death benefit to the beneficiary should the insured’s death occur as a direct result of an accidental injury as defined in the rider.

The benefit is available to cover insured individuals from the age of one year up to and including age 60. The benefit will cease on the policy anniversary on which the age of the insured is 70.

Rider Form Nos. MK-2915-B Ed. 10/84; ICC14-IO9357-ADB; Series MK-2915-B Ed. 10/84

WHOLE LIFE LP95 Insurance Sample Values

This chart does not illustrate the policy you have applied for. It is provided only to illustrate representative guaranteed policy values assuming a $43.33 monthly premium is paid on a non-tobacco2 policy.

Age Face Amount Guaranteed Cash Value at 65 Paid-Up Death Benefit at Age 653
25 $71,625 $30,214 $58,225
30 59,158 23,838 45,939
35 48,417 18,325 35,315
40 38,011 13,178 25,397
45 29,595 9,028 17,399
50 22,867 5,720 11,023
55 17,502 3,088 5,952
60 13,659 1,056 2,035
65 10,522 N/A N/A
70 7,565 N/A N/A

This is a quotation only. A detailed illustration will be provided upon delivery of a policy, or earlier upon request.

1New York Only: Benefits payable for children under age 14 1/2 may not exceed the monetary limitations set forth by New York Insurance Law (sec. 3207).

2No use of tobacco or nicotine products such as cigarettes, cigars, cigarillos, a pipe, chewing tobacco or nicotine delivery device such as nicotine patches or nicotine gum in the last 12 months. Only the rates and values for issue ages 18 and older are different for tobacco and non-tobacco.

3The policy owner has the right to request the Paid-Up Insurance Non-Forfeiture option under the policy. If elected, the Death Benefit will be the amount that the Surrender Value will purchase when applied as a single premium. The Paid-Up Life Insurance shares in dividends as declared by the Board of Directors of the Company.

Guaranteed values are based on the assumption that premiums shown are paid when due and no policy loans exist under the policy.

Whole Life LP95 is eligible to share in any dividends declared by the Company’s board of directors, provided the policy premiums are paid in full. Policy owner dividends are not guaranteed.


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