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October 07, 2009 at 08:00 PM
A new single-premium whole life policy includes accelerated benefits riders that allow access to the policy’s living benefits if the insured is diagnosed with terminal, chronic or critical illness.
Called LifeBuilder 1, the policy offers these riders as an option, and at no additional cost.
The policy is underwritten by National Life Insurance Company, Montpelier, Vt., a member of National Life Group.
The company says it is using new, streamlined underwriting requirements with the policy. For clients up to age 75, for instance, the company bases medical requirements on the net amount at risk, rather than the face amount.
