Whole Life (LP95)1

  • Whole Life for Family—For Employee and Spouse, 18 up to including age 72 For Child/Grandchild, 14 days up to and including age 26
  • Permanent, individually-owned whole life insurance
  • Guaranteed issue available for employees/members(2)—There is no participation requirement for guaranteed issue, however, case size requirements apply
  • Optional Riders

    • Chronic Illness Accelerated Death Benefit Rider(3)
    • 20-Year Level Term Insurance Rider
    • Terminal Illness Options Accelerated Benefit Rider
    • Dependent Children’s Insurance Benefit Rider
    • Accidental Death Benefit Rider
    • Waiver of Premium Benefit in Event of Total Disability Rider
  • Guaranteed Death Benefit and Cash Values(4)
  • Provides an income tax free benefit upon death on the insured person(5)

    • Level Premium—level face amount and premium
    • Portability—no change in cost or coverage
    • Paid-Up Coverage—elect paid-up coverage in a reduced amount to cease ongoing premium payments
Case Size: Number of Eligible Employees/ Members Employee/ Member Maximum GI Money Purchase Spouse Maximum CI Money Purchase with NO Employee/ Member Coverage Spouse Maximum CI Money Purchase WITH Employee Coverage* Child/ Grandchild Maximum CI Money Purchase**
25-500 $13 per week $3 per week $3/$5 per week $3 per week
501-1,000 $16 per week $3 per week $3/$5 per week $3 per week
1,001-2,500 $20 per week $3 per week $3/$5 per week $3 per week
2,501+ $23 per week $3 per week $3/$5 per week $3 per week

*If employee/member is $5/week or more, then the spouse maximum is $5/week. If employee/member coverage is $4/week then the spouse maximum is $4/week. If employee/member coverage is $3/week then the spouse maximum is $3/week.
**Maximum child face amount cannot exceed $50,000. Spouse and child participation is not dependent on employee/member coverage.

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