GPO Part 1
Number of options available?
What is Seven?
What is the maximum amount for a GPO with the maximum face?
What is $100.000?
The normal option dates are the policy anniversaries nearest the insured's ___, ___, ___, ___, ____, ____ and ____ birthdays.
What is 17th, 25th, 28th, 31st, 34th, 37th and 40th birthdays.
Conversion for the full face amount may be made on an attained age basis any time within the first ___ policy years regardless of issue age.
What is 6 policy years?
ART Conversion may be made on an attained age basis any time prior to the annual contract date nearest the insured’s ______ birthday.
What is the insured's 65th birthday?
The minimum amount for a GPO on a youth policy.
What is $10,000?
Both alternative GPO options.
What is First Marriage and birth or adoption of a child?
The requirement that all juvenile policies must be written with both ____ and ___ Riders.
What is GPO & PW?
The guaranteed conversion amount is ___% for policy years 7+ to the end of the level term period or the annual contract date nearest the insured’s 65th birthday, whichever is earlier.
What is 50%?
ART Partial conversion is permitted if not less than $______ of term coverage is converted.
What is $1,000?
Free temporary insurance in the amount of the option is in force for _______ days preceding each normal option date.
What is 60 days?
Free temporary insurance in the amount of the option is in force for _______ days following each alternative option available.
What is 60 days.
A non-member can exercise their GPO above the guaranteed amount and apply up to $_________ provided the insured is in good health (standard rating).
What is $100,000?
If the Level Term contract was issued Premier or Ultra-Premier under the 700 Series, 800 Series, or Accelerator Term Series, then the guaranteed conversion to the permanent plan will also be on a Premier or Ultra-Premier basis if the face amount is at least $_________. The converted policy will get the rate band based on the size of the new converted contract.
What is $50,000
Conversions will continue to use the Form ___ and ________.
What is form 550 & 550 DOI?
Rider that is on base policy that is guaranteed on the GPO option.
What is Waiver of Premium?
The GPO Rider may be added to any permanent plan of insurance except _______________ .
What is Graded Death Benefit WL?
If the basic policy was issued subsequent to July 1975 and contains the Waiver of Premium Rider, it can also be added to the new policy without evidence of insurability, provided the new policy calls for premiums for more than ______ years.
What is 20 years?
The ______ __________ Rider extends the guaranteed conversion privilege and the Conversion Credit to the end of the level term period. It is available from issue ages 18-55 for an additional premium.
What is the Full Conversion Rider?
The conversion credit will be equal to the_____ annual premium for this term policy
What is the Base annual premium?
Nickname for the alternative GPO.
What is the Stork and Marriage Option?
Combining Multiple GPO Elections into a Single Policy if the exercise dates of the riders must be within ____ days of each other.
What is 60 days?
If the new policy is being paid for by Disability Waiver, the policy must be applied for and issued as a _______________ with DW (Waiver of Premium rider) on monthly direct bill pay mode and no initial premium is required
What is a Life Paid-Up at 100 (801)?
The available conversion amount will come from the _____________________________________ during the first 6 policy years.
What is the ‘accelerated portion’ for any of the 5% face amount increases remaining ?
If conversion occurs on or after the first policy anniversary an up to the end of the first 6 policy years of the level term contract, the first year premium for the new permanent policy will be reduced by a ___________________.
What is Conversion Credit?