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Whole Life

Give yourself peace of mind and ensure your survivors have the funds necessary to pay final expenses with Whole Life insurance from Motorists Life. We have several Whole Life Insurance options that will protect you for your whole life, from the day you purchase the policy until you die, as long as you pay the premiums. Your Motorists Life agent can help you find the right policy. A policy that can be a solid foundation upon which to build a long-term financial plan that guarantees lifetime protection for your family or business.
 
Simplified Issue/Graded Benefit Whole Life
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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:
 

Policy Year  

Year 1         

Year 2        

Years 3 on        

Benefit Payable

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.

Policy Information
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.

Coverage Increases
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.

 
Non-Participating Whole Life
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Participating Whole Life
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Universal Life
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Youth Life Protector
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