The guaranteed issue life insurance for seniors is a simple and affordable final expense life insurance policy designed to help cover expenses like:
With Senior Life Insurance, if you're age 50-85, you can't be turned down for health reasons, and you can receive permanent life insurance without having to qualify for coverage based on your health. The benefits from this final expense life insurance for seniors can lend a helping hand for your loved ones during difficult times.
Chronic Illness - This benefit returns all of the premiums paid on the Senior Life Insurance policy (up to 25% of the ultimate face amount of the policy less any policy balance and an administrative fee.) and is triggered when the insured cannot perform at least 2 of the 6 "activities of daily living" (bathing, continence, dressing, eating, toileting, transferring) or is diagnosed with a severe cognitive impairment like Alzheimer's or dementia.
Terminal Illness - This benefit provides 50% of the applicable death benefit at the time of acceleration, upon diagnosis of a terminal illness. Terminal Illnesses are illnesses or physical conditions that are certified by a physician to be reasonably expected to result in the insured's death within 24 months from the date of certification.
The total amount of all Guaranteed Issue Whole Life Insurance policies on any person cannot exceed $25,000 in the aggregate. Must be between the ages of 50 and 85 to apply. Coverage is subject to receipt of payment and verification of identity as required by law and is effective upon receipt of policy.
USA PATRIOT ACT (This notice is printed in compliance with Section 326 of the USA Patriot Act).
IMPORTANT INFORMATION ABOUT PROCEDURES FOR APPLYING FOR AN INSURANCE POLICY OR ANNUITY CONTRACT.
To help the government fight the funding of terrorism and money laundering activities, federal law required all financial institutions including insurance companies, to obtain, verify, and record information that identifies each person who opens an account, including an application for an insurance policy or annuity contract. What this means for you: When you apply for an insurance policy or annuity contract, we will ask your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or identifying document.
Important Consumer Disclosures Regarding Accelerated Benefit Riders
An Accelerated Death Benefit Rider (ABR) is not a replacement for Long Term Care Insurance (LTCI). It is a life insurance benefit that gives you the option to accelerate some of the death benefit in the event the insured meets the criteria for a qualifying event described in the policy. The rider does not provide long-term care insurance subject to California insurance law, is not a California Partnership for Long-Term Care program policy. The policy is not a Medicare supplement.
ABRs and LTCI provide different types of benefits. An ABR allows the insured to access a portion of the life insurance policy’s death benefit while living. ABR payments are unrestricted and may be used for any purpose. LTCI provides reimbursement for necessary care received due to the inability to perform activities of daily living or cognitive impairment. LTCI coverage may include reimbursement for the cost of a nursing home, assisted living, home health care, homemaker services, adult day care, hospice services or respite care for the primary caretaker and the benefits may be conditioned on certain requirements or meeting an elimination period or limited by type of service, the number of days or a maximum dollar limit. Some ABRs and all LTCI are conditioned upon the insured not being able to perform two or more of the activities of daily living or being cognitively impaired.
This ABR pays proceeds that are intended to qualify for favorable tax treatment under section 101(g) of the Internal Revenue Code. The federal, state, or local tax consequences resulting from payment of an ABR will depend on the specific facts and circumstances, and consequently advice and guidance should be obtained from a personal tax advisor prior to the receipt of any payments. ABR payments may affect eligibility for, or amounts of, Medicaid or other benefits provided by federal, state, or local government. Death benefits and policy values, such as cash values, premium payments and cost of insurance charges if applicable, will be reduced if an ABR payment is made. ABR payments may be limited by the contract or by outstanding policy loans.
Life Insurance Protection without any health questions or medical exam.
A guaranteed lifetime insurance option designed to help your loved ones with final expenses such as medical bills, credit card debt or funeral costs.
Graded death benefit: Pays 110% of premiums paid during the first two years. Pays full face amount for accidental death and full face amount in the third year and beyond. All rates include a $24 annual policy fee. Insured must be the owner, one policy per owner/insured in a 12-month period; $25K coverage limit; no replacement or conversion into this product allowed; payer can be different from insured; Social Security number will be required as part of the application process. No benefit for accidental death is payable if the Insured’s death is caused or contributed to by: disease or infirmity of mind or body, or medical or surgical treatment for such disease or infirmity; an infection not occurring as a direct result or consequence of an accidental bodily injury; any attempt at suicide, or intentional self-inflicted injury, while sane or insane; travel in an aircraft or device used for testing or experimental purposes, used by or for military authority or used for travel beyond the earth’s atmosphere;active participation in a riot or insurrection; committing or attempting to commit a felony; intoxication as defined by the jurisdiction where the accidental injury occurred;riding or driving an air, land or water vehicle in a race, speed or endurance contest; rock or mountain climbing; bungee jumping; or aeronautics (hang-gliding, skydiving, parachuting, ultralight, soaring, ballooning and parasailing). No benefit for accidental death is payable if the Insured’s death is caused or materially contributed to by: voluntary intake or use by any means of (a) any drug, unless prescribed or administered by a physician and taken in accordance with the physician’s instructions, or (b) poison, gas or fumes, unless a direct result of an occupational accident; or participation in an illegal occupation or activity; or if death occurs while the Insured is incarcerated.
