A rider is a document that becomes a part of a life insurance policy, which can provide additional coverage or benefits. Endorsements and amendments are additional documents that can become part of your policy. They can also provide benefits or confirm changes made to your coverage.

While life insurance generally protects you if you pass away for any reason while the policy is active, accidental death insurance only provides coverage in the event of a covered accident. Accidental death coverage is guaranteed as long as you are between the ages of 18-70 and the premium is substantially lower per dollar of coverage.

Employer-sponsored life insurance is a great benefit, but it may not provide enough coverage to protect your family. Most employer-sponsored policies offer coverage that is the equivalent of 1 to 2 times your annual salary. So if you make $50,000 per year, your employer may offer $100,000 in life insurance coverage at minimal cost to you. While this is helpful, your family would likely need much more support in the event of your death. Many financial experts recommend that you have coverage with a benefit of at least 10x times your annual salary.

Another issue with relying on employer-sponsored coverage is that many policies through work only last as long as you are employed there. Many people tend to lose their insurance coverage when they change jobs, are laid off, or when they retire. Have you thought about owning coverage outside of your employer-sponsored coverage?

You might consider supplementing your employer-sponsored life insurance with an additional policy—so you get the full coverage you need to protect your family when they need it the most.

• Instant approval: If you are between the ages of 66 and 85, you are guaranteed to be accepted for this coverage at the rates provided when you apply, regardless of your health, any pre-existing conditions, previous denial of coverage, or even risk factors.
• Graded Death Benefit Feature: Depending on eligibility and state availability, your death benefit will either kick in immediately or after 2-3 years time to cover deaths from illness, disease, or old age. All accidental deaths are covered immediately.
• Guaranteed building of cash value: This is a whole life insurance policy, which means it uses parts of your premiums to build cash value automatically over time.

• It may be the right fit if:

  • You need help to cover final expenses
  • You want a quick and easy acceptance process, with no medical exam or health questions
  • You want a policy that builds cash value over time. Benefits may be reduced by any loans and unpaid interest on the policy
  • You need a policy with guaranteed level premiums

  Explore other options if:

  • You need more than $25,000 in permanent coverage
  • You want coverage that lasts for a shorter amount of time

• A death benefit, also referred to as the policy proceeds, is the amount of money that an insurer pays to your beneficiary if you pass away during the policy term. Typically, it is paid in a single lump sum.

  In most cases, the death benefit is not taxed. That said, if your beneficiary chooses to do something less common like distributing the death benefit in installments while investing it, or including the benefit as part of an estate settlement, there may be tax implications for the beneficiary. Make sure to check with an accountant or financial advisor if you think this may apply to you or your beneficiaries.

• A beneficiary is a person or trust designated as the recipient of the policy proceeds after the death of the insured. The beneficiary submits a claim to the life insurance company for the policy proceeds. You, as the policy owner, can decide who to designate as your beneficiary (or beneficiaries).

• This policy requires no medical or physical exams.
• Once locked in, your monthly policy premiums will never go up, as long as they are paid when due.
• At age 100, your policy stays in effect with premium payments no longer being required.
• This policy builds cash value over time.
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