Included with no extra premium. Provides a lump sum benefit upon diagnosis of a terminal illness that reduces life expectancy to 6 months or less in most states. The maximum aggregate amount of accelerated death benefit payment the company will make under all policies issued by the company on the insured's life is $500,000. Interest is charged at the time of payment. Not available in IN and NJ.
Policy Loans:
Available only with VantagePoint Term Life Insurance with Return of Premium (ROP). Cash values are available for policy loans, including automatic premium loans. All policy loans accrue interest at 8 percent per year, compounded annually. If the loan balance, including interest, exceeds the rider cash value, the policy will terminate.
Policy Exchange Option:
Included with no extra premium. The owner may exchange the term life insurance policy for any life insurance policy the company makes available for this purpose. The new life insurance face amount cannot exceed that of the current policy and may not be less than the minimum for the policy type selected. The new policy will be issued at the insured's current age, without evidence of insurability. This option is available at any premium due date during the initial level period or until the insured reaches age 75, whichever comes first.
Optional Term Life Product Features
Waiver of Premium Rider:
Available with extra premium. Each premium payment which falls due while the insured is totally disabled will be waived. The rider terminates on the policy anniversary nearest the insured's 60th birthday. Please call or email for issue ages and premium rates.
Children's Insurance Rider:
Available with extra premium. Provides term life insurance for the primary insured's dependent children. Child issue ages are 15 days to 18 years. One unit equals $1,000 in coverage, with a maximum of 10 units. Premium rate is $5.50 per unit annually. Coverage terminates on the earlier of the child's 21st birthday or the policy anniversary date nearest the insured's 65th birthday.
Basic Cash Value Rider:
Available only with VantagePoint Term Life Insurance with Return of Premium (ROP). This rider adds a return of premium feature in the form of rider cash values which are payable at the end of the initial level period (15, 20, or 30 years) if the insured is alive. The rider does not provide any additional death benefit; therefore, if the insured dies before the end of the initial level period, only the policy death benefit is paid. Rider cost has been added to VantagePoint ROP quotes on the QuickQuote Web site.
Enhanced Cash Value Rider:
Available only with VantagePoint Term Life Insurance with Return of Premium (ROP). This rider adds a return of premium feature in the form of rider cash values which are payable at the end of the initial level period (15, 20, or 30 years) if the insured is alive. The rider does not provide any additional death benefit; therefore, if the insured dies before the end of the initial level period, only the policy death benefit is paid. This rider provides larger cash values than the Basic Cash Value Rider for a slightly higher cost. Please call or email for quotes on this rider.
Other Information
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The following maximum issue ages apply: Sure Term 10: 77 in NJ, 77 for tobacco classes in NJ, MD, PA, TX, WA. Sure Term 15: 65 in WA, 67 in NJ, 73 in MD, PA, TX. Sure Term 20: 60 in NJ, WA. Sure Term 30: 38 in NJ.
VantagePoint 15 is term life insurance with a return of premium ROP feature. The ROP feature is provided by a Cash Value Rider which offers the ability to take cash value loans, including automatic premium loans. The cost for the Basic Cash Value rider has been added to the quote on the QuickQuote Web site. An Enhanced Cash Value Rider is available for an additional cost.
VantagePoint 20 is term life insurance with a return of premium ROP feature. The ROP feature is provided by a Cash Value Rider which offers the ability to take cash value loans, including automatic premium loans. The cost for the Basic Cash Value rider has been added to the quote on the QuickQuote Web site. An Enhanced Cash Value Rider is available for an additional cost.
VantagePoint 30 is term life insurance with a return of premium ROP feature. The ROP feature is provided by a Cash Value Rider which offers the ability to take cash value loans, including automatic premium loans. The cost for the Basic Cash Value rider has been added to the quote on the QuickQuote Web site. An Enhanced Cash Value Rider is available for an additional cost.
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