Simple Choice Annual Renewable & Convertible Term
When you have children, a mortgage, or other substantial expenses, life insurance may not be the first thing on your mind. But not having coverage, even for a short time, can put your family’s financial future at risk. Simple Choice Annual Renewable & Convertible Term life insurance gives you affordable life insurance protection that meets your temporary needs.
The issue ages are 18-61. At the end of each one-year term, the premium changes to the appropriate amount for the new attained age.
Convertibility and Renewability
This plan is convertible without additional underwriting. The coverage and premiums are guaranteed for 20 years at issue ages 18-39 or for 15 years at issue ages 40-65, as long as you pay your premiums, regardless of changes in your health or lifestyle. At the end of each one-year term, the premium changes to the appropriate amount for the new attained age.
You can get additional protection by choosing from a number of riders, or options. Premiums may apply.
Accelerated Death Benefit Plus Rider
The Accelerated Death Benefit Plus Rider is automatically included with the policy at no additional premium cost to you. This rider provides benefits for terminal illness and chronic illness:
|Terminal Illness||Chronic Illness|
|Benefits||$250,000 or 60% of base policy death benefit||$250,000 or 40% of base policy death benefit|
|Conditions||An illness that is expected to result in death within 12 months from the date medical evidence is supplied to the Home Office.||You are unable to perform at least two of six Activities of Daily Living for a period of 90 days, or
You require substantial supervision to protect yourself from threats to health and safety due to a severe cognitive impairment.
When an advance is paid under this rider a lien is created against the policy in the amount of the advance. The amount of the advance and the interest will reduce the death benefit if not repaid.
When an advance is paid under this rider, an administrative fee up to $150 may be charged. There is a two-year waiting period for chronic illness claims.
Waiver of Premium Disability Benefit Rider
This rider is an optional benefit available at the time of policy issue. It provides that premiums for the policy will be waived during the continued total disability of the insured.
Accidental Death Benefit Rider
This rider is an optional benefit equal to the face amount of the base policy. It provides for payment of an additional sum upon receipt of proof that the insured’s death was accidental.
Family Children Security Protector Rider (Children Term Rider)
This rider is an optional benefit that provides level term coverage on every child of the insured. Your premiums are the same regardless of the number of children you have covered.
Other Insured Rider (Spouse Rider)
This rider is an optional benefit that provides term coverage to the insured’s spouse. This rider is available in 10-, 15-, 20-, and 30-year term periods (depending on the age of the insured). The minimum amount is $25,000, and the maximum amount is two times the base policy face amount.
The Simple Choice Annual Renewable & Convertible Term insurance policy can help you secure your family’s financial future with life-insurance protection and guaranteed premiums. Get More Information or contact our Client Relationship Center at 1.866.832.7719 to learn more.
Simple Choice Annual Renewable & Convertible Term is issued by Western-Southern Life Assurance Company (NAIC code 92622), Cincinnati, Ohio. It is not licensed in Alaska, Maine, New Hampshire, New York, Rhode Island, Vermont, or outside the United States.
Exceptions and Limitations: Product, features, rider availability, and benefit provisions vary by state. The policies offered contain exclusions, limitations, reductions of benefits, and specific requirements for keeping them in force. For complete coverage information, see your Western & Southern Life Financial Representative.
Policy series number: 0701-306 WSA
Riders series numbers: 0010-2610 WSA, 9911-302 WSA, 9401-3540 WSA; ICC10 1103-2675 WSA, 1208-331 WSA