Essentially, a paid-up addition is an
additional death benefit (also with cash value) that is purchased in conjunction with a whole life policy (either with dividends or through additional premium payments).
Benefits include: A $500,00 accidental death benefit; up to $250,000 in excess medical coverage; up to $50,000 benefit for mental health counseling; disability income coverage; plus an
additional death benefit for the donor's travel companion.
Available term riders provide an
additional death benefit during the first four policy years, while a policy split option rider can be used in the event of divorce or tax law changes.
Also found in many last survivor policies is an estate protection rider that pays an
additional death benefit if both insureds die within four years of purchasing the policy.
For example, the Select Estate Protection rider - available at no additional cost and automatically added to policies where the insureds meet specified age, health and specified amount criteria - is a term rider that provides an
additional death benefit to the beneficiary for the first four policy years.
This rider pays an
additional death benefit if the insured dies as a result of an accident before age 70--in effect, doubling the amount of coverage.
5 million
additional death benefit to retire the policy loan.
The beneficiary receives an
additional death benefit equal to 40% of the earnings accumulated up to age 69.
this provision provides for an
additional death benefit.
If your client is looking for cost savings, you may be able to provide the same or
additional death benefit with lower or no additional premiums.
says the company now offers on its policies a charitable giving benefit rider that will pay a 1%
additional death benefit to a named charity.
The DOT rider helps consumers get
additional death benefit protection.
