LifeTime Benefit Term protects your family with money that can be used any way they choose. It is most often used to pay for mortgage or rent, education for children and grandchildren, retirement, family debt, and final expenses.
Long Term Care*† (LTC)
If you become chronically ill,** LifeTime Benefit Term will pay you 4% of your death benefit each month you receive Long Term Care. You can use this money any way you choose, and your life insurance premiums will be waived.
- Your death benefit will reduce proportionately each month as you receive benefit payments for Long Term Care. After 25 months of receiving Long Term Care Benefits, your death benefit will reduce to zero.
- With Extension of Benefits*, if you continue to need LTC after you have exhausted your Death Benefits, you can receive up to 25 more months of benefits, for a total of 50 months of LTC benefits.
Restoration of Your Death Benefit
Ordinarily, accelerating your life coverage for Long Term Care benefits can reduce your death benefit to $0. While in force, this rider restores your life coverage to not less than 50% of the death benefit on which your LTC benefits were based, not to exceed $50,000. This rider assures there will be a death benefit available for your beneficiary until you reach age 121.
Guaranteed Premiums
Life insurance premiums will never increase and are guaranteed to age 100. Thereafter no additional premium is due while the coverage can continue to age 121.
Guaranteed Benefits After Age 70
After age 70, when income is less relied upon, the benefit is guaranteed to never be less than 50% of the original death benefit.
Paid-up Benefits
After 10 years, paid-up benefits begin to accrue. At any point thereafter, if you stop paying the premium, a reduced paid-up benefit is issued and can never lapse. That means when you retire, you can stop paying the premium and have a death benefit for the rest of your life—guaranteed.
LifeTime Benefit Term Brochure LifeTime Benefit Term Rates Combined - Death Claim Form Combined LBT LTC Claim Form