Whole Life (LP95)1
- Whole Life for Family—For Employee and Spouse, 18 up to including age 75
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.