Protective Life announces new chronic illness rider for universal life policies

This highly flexible rider can be configured to meet a wide array of customer needs, with choices of both monthly benefit amounts and elimination periods. Once chronic illness payments are triggered, monthly payments are made automatically without the need for receipts or a cumbersome claims process. Up to 90% of the policy’s death benefit (up to $1 million) can be accelerated through the rider. The remaining death benefit can provide a valuable source of funds for final expenses, income replacement or estate planning needs.