Exclusions & Limitations.
Our simplified whole life insurance plan can help pay funeral costs and other (such as credit card or medical debt) and/or leave wealth to family members.
Coverage amounts from $3,000 up to $10,000.
You can choose the level of coverage that meets your needs: $3,000, $5,000, $7,000 or $10,000. Coverage ends when the policyholder reaches age 100.
Additional Accidental Death Benefit.
This plan also includes a $5,000 common carrier accidental death benefit no matter what level of whole life insurance coverage you choose. In other words, you get more coverage at less cost.
No benefit shall be paid for Loss or Injury that:
- is intentionally self-inflicted, while sane or insane;
- is due to a war or act of war, if the cause of death occurs while serving in the military service or any auxiliary unit attached thereto;
- occurs while the Insured is acting either as a pilot or crew member or while a passenger, other than a fare-paying passenger, in any aircraft;
- is caused by or results from the Insured’s commission of or attempt to commit a felony, or is caused by or results from the Insured’s being engaged in an illegal occupation;
- is due to disease, bodily or mental infirmity, or medical or surgical treatment of these.
Builds cash value over time.
Our simplified whole life insurance plan builds cash value that you may borrow against. The longer your coverage is in force, the more cash value you accumulate. Cash value starts accumulating in the fifth year of the policy.
Rates won’t increase as you get older.
The rate you pay is based on your age when coverage starts and will not increase as you get older. Rates can only be changed by class for everyone insured under the .
No medical exam required.
If you’re 45-79 years of age, you are eligible to apply for coverage regardless of your health or medical history. All we ask is that you answer a few health questions.
Suicide
Suicide, while sane or insane, within two years (one year for residents of Colorado and North Dakota) of the Certificate Effective Date is a risk not assumed by us. In such an event, we will limit the amount payable to the total premium paid under this Certificate.
Policy Form # : GC284 and GC284REV