Types of Life Insurance
This type of life insurance provides lifetime protection with guaranteed level premiums.
What is whole Life Insurance?
This feature grows over time, is guaranteed, and does not decline due to market conditions.
What is cash value?
Issue ages on a Universal Life Guard policy.
What are ages 18 to 85?
Maximum Substandard rate class available on Term Products.
What is Table J rating?
This rider allows policyowners to buy additional coverage in the future without evidence of insurability at set dates.
What is the Guaranteed Insurability Rider (GIR)?
Helps meet temporary life insurance coverage needs with various guaranteed level premium and conversion periods.
What is Term Life Insurance?
These are paid annually to eligible policyowners but are not guaranteed.
What are dividends?
Minimum issue age in Washington State for all products.
What is age 19?
Maximum Substandard rate class available on Whole Life Products.
What is Table P rating?
Allows the policyowner to accelerate the payment of a portion of the policy death benefit to pay for covered services received by the insured for home and facility care on a long-term basis.
What is the Long-Term Care Rider?
This type of life insurance offers flexible premiums and adjustable death benefits while accumulating cash value based on investment performance.
What is Universal Life Insurance?
These policies are designed for businesses to support key employees and executives with early cash value.
What is Whole Life High Early Cash Value (HECV)?
The minimum base policy face amount for Term Products.
What is $100,000?
Maximum table rating that MM will allow for waiver of premium rider.
What is Table D rating?
An applicant on Workmen's Compensation is excluded from applying for this rider.
What is waiver of premium?
This type of life insurance offers a flexible premium that combines permanent life insurance protection with the potential for account value accumulation based on investment performance.
What is Variable Universal Life Insurance?
Before a policy terminates, this is a period during which the policyowner can pay the amount of premium needed to avoid termination.
What is a Grace Period?
Minimum face amount for the APEX VUL.
What is $50,000?
Best rate classes available at ages 17-60, under $100k total risk (face + RTR + LISR) or under $200k for Survivorship and no LTCR applied for.
What is Standard Non-Tobacco / Standard Tobacco?
A rider that allows the insured to purchase additional paid-up life insurance without evidence of insurability on the policy date of the base policy.
What is the ALIR rider?
This type of insurance offers The Guaranteed Death Benefit (GDB) Safety Test.
What is Variable Universal Life Insurance?
Cash, Extended Term Insurance, Reduced Paid Up Insurance.
What are Non-Forfeiture Options?
Maximum age available for the APEX VUL.
What is age 75?
Minimum age eligible for Ultra Preferred non-tobacco rates.
What is age 17?
Maximum GIR rider limit for all MM policies combined.
What is $125,000?