FlexLife is an innovative Indexed Universal Life insurance policy designed to meet the insured’s lifetime protection and accumulation needs through the Benefits for Living riders.

 

Benefits for Living is a powerful financial tool that provides your family with financial security at death but also provides financial security in the event of a long-term illness, critical illness or terminal illness. There is no additional premium cost for these accelerated living benefits and provides future options as life changes. The living benefits include:

 

• Long-Term Care/Chronic Illness Acceleration – accelerates the death benefit when the insured cannot perform 2 out 6 activities of daily living

• Critical Illness Acceleration – accelerates the death benefit when the insured experiences a qualifying event including heart attack, stroke and cancer

 

• Terminal Illness Acceleration – accelerates the death benefit when the insured has a terminal illness and life expectancy less than 12 months.

• Guaranteed Income for Life – annual income the insured cannot outlive.

 

 

FlexLife provides the following policy features:

 

Flexibility: Premium, income and death benefit flexibility with options to access policy benefits during the insured’s lifetime.
Premium – allows single premium, limited pay, lifetime premiums.
Additional Protection Benefit – COI blend to dial down the target premium.
Death Benefit – allows Option A and Option B.
Income – limited or lifetime income.

Minimum Death Benefit: $100,000

Issue Age: 0 – 85.

Coverage Period: Death benefit to age 120.

Surrender Schedule: 10 years

Policy Loans/Withdrawals: Available after the first policy year.

Loan Options:
• Variable Net Cost Loan 
• Fixed Net Cost Loan Method
• Overloan Protection Rider

1035x with Loans: Available for up to 50% of the gross exchange amount.

Interest Rate Crediting: S&P 500 Index. Minimum guaranteed annual interest rate of 2.5%. Annual gains locked in. Upside potential with downside protection.

Interest Crediting Strategies:

• Fixed Interest Strategy

• Point-to-Point, Cap Focus Index Strategy, S&P 500

• Point-to-Point, Participation Focus Index Strategy, S&P 500

• Point-to-Point, No Cap Index Index Strategy, S&P 500

• Point-to-Average Index Strategy, S&P 500 
• Point-to-Point, MSCI Emerging Markets Index Strategy

 

Rate Classifications:             

• Elite Preferred (issue ages 20-70)

• Preferred Non-Smoker (issue ages 20-80)

• Standard Non-Smoker (issue ages 0-85)

• Preferred Smoker (issue ages 20-80)

• Standard Smoker (issue ages 20-85)

No-Lapse Guarantee:            

Death Benefit Protection Rider.
Issue Ages: 0-64
No-lapse period: Issue age 0-29, NLG period 30 years
                            Issue age 30-39, NLG period 25 years
                            Issue age 40-54, NLG period 20 years
                            Issue age 55-64, NLG period 15 years
Premium: No additional premium charge.

Long-Term Care/Chronic Illness Acceleration:
Income tax-free living benefit in the event of a long-term/chronic illness through the Chronic Illness Accelerated Benefits Rider. Rider specs include:
• Available on all table ratings and all policies up to $2 million of death benefit
• Annual acceleration limited to the indexed IRS per diem benefit,  $113,150 for 2012
• Own doctor must certify annually that insured is unable to perform 2 out of 6 ADL’s or cognitive impairment. ADL’s – Eating, Toileting, Transferring, Bathing, Dressing and Continence
• No additional premium cost.
• Rider is not underwritten separately.
• Cash Benefit, no restrictions on the use of the benefit
• Works well in trust-owned policies.
• Paid–up policy is available at the time of acceleration.
• No waiting period to accelerate the benefit.

Critical Illness Acceleration: 
Ability to accelerate the death benefit as a result of a qualifying event:
• Heart Attack, Stroke, Cancer, End Stage Renal Failure, Major Organ Transplant, ALS or Blindness.
• No additional premium cost.
• On all standard and above policies.
• Maximum lifetime payout - $1 million.

Lifetime Income Benefit: Through the Lifetime Income Benefit Rider (LIBR), your policy cash value can be used to provide a guaranteed stream of income you cannot outlive. 

Life Changes. Protect It.