Permanent Life Insurance
Permanent Life at a glance
Permanent Life is a simple permanent protection solution. It offers guaranteed premium payment options, including three limited pay options. Permanent Life provides guaranteed cash values beginning in policy year 3 and a guaranteed death benefit. The guaranteed return of premium on death optional benefit, available with the 15 and 20 pay options, gives You the opportunity for an increasing death benefit, with all premiums paid included in the death benefit.
Options
Coverage Options
- Single life
- Joint first-to-die, two lives - includes Survivor benefit and Automatic survivor benefit
- Joint last-to-die premiums to second death, two lives
- Joint last-to-die premiums to first death, two lives
Issue limits
- Minimum:
Single life:
Ages 0 to 64: $25,000 to $25,000,000
Ages 65 to 85: $10,000 to $25,000,000
Joint:
All ages: $25,000 to $25,000,000
Coverage amounts under $25,000 are available if you’re converting or exercising the full amount.
- Maximum: $25,000,000
Special quotes available for cases over $ 25,000,000.
Premium rates for amounts above $15,000,000 are subject to reinsurance and underwriting reviews.
Premium options and issue ages
Premium option
Life Pay
10 pay
15 pay
20 pay Single
0 - 85
0 - 85
0 - 85
0 - 80 Joint
18 - 85
18 - 85
18 - 85
18 - 80
Smoking status
Non-smoker, smoker or juvenile
Guaranteed cash values
- Beginning in year three
- Included with all coverage and premium options
Policy loans
- Minimum loan amount: $250
- Maximum loan amount: The net cash value less one year's interest
Optional benefits
- Guaranteed return of premium on death benefit (15 and 20 pay options only)
- Accidental death benefit
- Guaranteed insurability benefit
- Total disability waiver benefit
- Owner waiver death benefit (death, disability or death and disability)
- Child term benefit
- Business value protection benefit
- Term insurance benefit
- T10, T10 with Renewal protection, T15, T20, T30
Special features
Living benefit