Simplified Issue Whole Life
This policy provides full and immediate life insurance, paying 100 percent of the policy amount to the beneficiary at the insured’s death. You will be eligible for coverage from $5,000* to $25,000 if you pass a limited health questionnaire. A medical exam and bloodwork are NOT required.
The Accidental Death Benefit (ADB) is available as an optional rider with SIWL. It pays double the death benefit should death result from an accident. The ADB amount is equal to the base policy amount. See rate chart for cost.
Graded Benefit Whole Life
Those unable to qualify for the SIWL plan may be eligible for the GBWL plan, with issue amounts from $2,000 to $15,000.The amount payable to the beneficiary upon death of the insured is as follows:
Years 3 on
35% of the face amount
70% of the face amount
100% of the face amount
The Accidental Death Benefit (ADB) is available as an optional rider with the GBWL plan. It will pay double the ultimate death benefit (200 percent of the face amount) should death result from an accident in any policy year. The ADB amount is equal to the base policy amount.
Guaranteed Level Premiums
Premiums are guaranteed for the life of the policy and will not increase, regardless of age or change in health.
Guaranteed Non-Cancelable Policy
With continued payment of scheduled premiums, this policy will never be canceled by Motorists Life.
Guaranteed Cash Value
Your policy will accumulate a guaranteed level of cash value. You may access a portion of this money by taking a policy loan. At death, any outstanding loan will be deducted from the death benefit.
Accelerated Benefit Included at no Additional Cost
If the insured is diagnosed with a terminal illness (reasonable medical certainty of death within 12 months or less), the policy will pay up to 55 percent of the initial death benefit in advance.
Children’s Term Rider
This rider will provide $5,000 of term insurance protection on every child and grandchild covered. It may include your dependent natural children, legally adopted children and stepchildren who are 15 days old through age 17.
At any time prior to age 25, each child can convert the $5,000 term coverage to a permanent plan of insurance with the opportunity to grow cash value. This may be accomplished without proving evidence of good health. In addition, each child will have the opportunity to convert to $25,000 of permanent coverage without evidence of insurability following their 25th birthday or expiration of the rider.
Insureds may apply for an increase to the policy face amount at anytime after policy issue, subject to underwriting requirements.
Maximum amount of coverage issuable combining the base policy and any increases cannot exceed $25,000.