Advantage No Load Life Insurance
Flexibility
Premiums...Timing and amount of policy premiums is flexible. There are no minimums, except we do require the initial premium paid to be sufficient to cover monthly deductions for the first three months. Only applicable federal income tax laws limit maximums. Premiums may even be skipped as long as the policy's value is sufficient to cover the monthly deduction.
Coverage Amount (or "face amount")...You may increase or decrease the specified face amount of coverage without having to exchange or lapse the policy. Increases may be subject to evidence of insurability. Decreases are not allowed in the first year, and thereafter may be limited or not available if the decrease would cause the face amount to be less than the required minimum face amount.
Death Benefit Type...You may initially elect either of two alternative death benefit Types (see the definitions of each death benefit Type below), and later change the Type at any time. For either Type, Debt will reduce the death benefit. A change from Type A to Type B may be subject to evidence of insurability.
- "Type A" provides a death benefit equal to the specified face amount.
- "Type B" provides a death benefit equal to the specified face amount, plus the accumulation value.
- In no event will the death benefit be less than the amount to qualify the policy as a "life insurance contract" under applicable federal tax laws.
