Interest Sensitive Whole Life Products Annual Premium Junior Flex Life (JFLA) Issue Ages: 0-17
Minimum Issue: $35,000
Annual Premium Adult Flex Life (FLA) Issue Ages: 18-70
Minimum Issue: $30,000
Maximum Issue: $1,000,000+ Maximum Issue: $4,000,000+
The Flex Life Plan operates like a traditional whole life insurance plan with required premiums paid each year. If the policyholder makes the scheduled annual payments, the policyholder will be entitled to cash values no less than those provided under a traditional whole life insurance plan. The Flex Life also produces an Accumulation Account, where premiums go in, expense and risk charges are deducted and interest is credited. Surrender charges are imposed if premiums are discontinued and the policy lapses. Assuming premiums have been paid annually and there are no policy loans, the surrender value will be the greater of: a) Cash values for a traditional whole life product; or b) The Accumulation Value minus the surrender charges If the annual premiums are not paid, the policy nonforfeiture options will be triggered. Premiums for Annual Premium Flex Life Plans may be paid on an annual, semi-annual, quarterly, monthly or monthly bank draft basis. Available Riders on Annual Premium Flex Life Plans Accidental Death (5 to 70) Insurability Protection Premium Waiver Non-Forfeiture Options on Annual Premium Flex Life Plans Reduced Paid-up Whole Life Insurance Surrender for Cash Value Loans
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CLIENT RESOURCE SECTION
Revised 05/25/2023
