Life Rider Options
The addition of optional riders to your policy means even more protection for the people you love most. GBU Life has riders especially created to provide added financial security for your family.
Child Rider: Allows all eligible children coverage on one rider; includes future eligible children, natural or adopted. Choose your coverage amount for each eligible child with an easy to calculate payment of $5 per $1,000 of coverage. Guaranteed convertible up to 5 times the rider face at age 25 within 60 days after birthday.
Spouse Term Rider: Adds 20-year level term coverage for the spouse of the insured on the same policy. Options are available for policy conversion upon the death of the insured or in the event of a divorce.
10-Year Term Rider: Gives the owner additional coverage for a 10-year term. Perfect for making sure mortgage, debt, education and other costs are covered during the busiest time of life.
Accidental Death Benefit Rider: Provides an additional benefit to your beneficiaries in the event of a covered accidental death.
Living Benefits Rider: Allows you to use part of your life policy’s value to pay for expenses in the event of terminal, critical or chronic illness as defined in the contract. It is included on policies with face amounts of $100,000 or more for no additional premium. Any policy value remaining after paying a living benefits claim will be paid as a death benefit to the beneficiary. Benefits may be reduced by any unpaid interest, withdrawals or loans on the policy. Access up to 95% of your death benefit in the following cases: if you are deemed terminal with 12 months or less of life expectancy, if you suffer a major health issue such as a heart attack, stroke or cancer causing a decreased life expectancy, if you develop a chronic illness that causes severe cognitive impairment or unable to perform two (2) Activities of Daily Living (ADLs).
Payor Waiver of Premium Rider: Keeps your policy in force in the event that you are not able to pay your premium due to disability. Premiums are waived if the policy payor becomes totally and permanently disabled as defined in the rider after six (6) months. The rider terminates when Payor turns age 65 unless a claim has been turned in to GBU. If the payor becomes disabled between the ages of 60-65 years old, waiver of premium payments end at age 65 unless the payor becomes disabled before age 60, the waiver of premium continues beyond age 65. If the payor is changed, the new payor must be underwitten for the rider to remain in force.
Protect Your Future Ability to Increase Your Coverage and Build Higher Cash Value Over Your Lifetime
Paid-Up Additions–Single Premium Rider: Add amounts of life insurance to the base policy for which no further premiums (following the rider premium) are due.
Paid-Up Additions–Periodic Premium Rider: Add amounts of life insurance to the base policy for which there are periodic purchase option dates. The Rider Premium is applied on the Periodic Purchase Option Date as a net single premium to buy participating, paid-up whole life insurance. The amount of paid-up insurance will be determined by gender, Insured's attained age, premium class shown on rider's schedule and applicable Net Single Premium rates table. How long the option is available will be determined at issue and may be limited by the Insured’s age. The premium for this rider cannot exceed that of the base policy. The option to purchase additional amounts of paid-up additions terminates upon the first to occur: (1) the policy continues as extended term or reduced paid-up insurance under the Non-forfeiture provision of the policy; (2) a paid-up addition is not purchased on a Periodic Purchase Option Date; or (3) immediately following the Last Periodic Purchase Option Date.
Guaranteed Purchase Option Rider—Single Premium Whole Life (SPWL) Products Only: Allows for additional single premium whole life policies to be purchased without the need for a medical exam. This rider must be exercised each year in order to be eligible for subsequent years. Maximum purchase years is determined at issue.
Guaranteed Purchase Option Rider: Protects future insurability by allowing for purchase of additional coverage at ages 25, 28, 31, 34, 37 and 40 or life events between these ages as a substitute without an additional medical exam. The owner is not required to exercise the additional purchase option at each interval in order to make future purchases.
GBU Life is the marketing name for GBU Financial Life (GBU), Pittsburgh, PA. Life insurance underwritten by GBU. Riders are optional and have additional fees associated with them. Policy and features are subject to approval and may not be available in all states. Please see policy and rider coverage for complete details. Youth 3 Pay Life Rider Form Series: ICC20R-ADB, R-ADB-03.20-FL, ICC20-R-GPO, R-GPO-03.20-FL. Whole Life and Term Life Rider Form Series: ICC20-R-PayorWP, FL20R-PayorWP.2, ICC20-R-ADB, FL20-R-ADB, ICC20-R-ChronicCritical, FL20-R-ChronicCritical062023.2, ICC20-R-CTR, FL20-RCTR.2, ICC20-R-Terminal Illness, FL20-R-Terminal Illness062023.2. Whole Life Rider Form Series: ICC20-R-GPO, FL20-R-GPO, ICC20-R-Spousal Term, FL20-R-Spousal Term.2, FL20-R-Terminal Illness062023.2, FL20-R-ChronicCritical062023.2, ICC22-RPUA-SP, ICC22-R-PUA-PP, ICC22-R-10YT, ICC22-R-GPO, SPPUA-FL-22, PPPUA-FL22, 10YT-R-FL22, GPO-R-FL22.
GBU-RIDER-DETAILS-0623