Product Details
Low-Load Survivorship Universal Life Insurance
Low-Load Survivorship Universal Life insurance is a specially designed policy to cover two lives with the death benefit payable only at the second death.
|
Issue Age |
20-80 (Joint Equal Age) |
|
Minimum Coverage |
$250,000 |
|
Maximum Coverage |
$10 million (higher requires prior approval) |
|
Policy Charges
|
Sales Load : 0%
Surrender Charge: 0%
Administrative Expense Charge: $4/mo.
Premium Taxes: 3.0%
Note: there is a charge per $1,000 of policy death benefit for issue ages 0-55 |
|
Rating Classes |
Preferred, Standard Nonsmoker, Standard Smoker, Substandard |
|
Death Benefit Options |
Option A: Specified face OR
Option B: Specified face amount plus cash values |
|
Riders |
Automatic Policy Riders: Cost of Living Adjustment, Reduced Loan Interest Rate, Terminal Illness, Extended Maturity Rider (no additional premium required)
Optional Policy Riders: Policy Split Options, First to Die, Waiver on Disability, Waiver on Death (additional premium required) |
|
Partial Withdrawals |
- Minimum of $500, must maintain surrender value of $1,000.
- Charge of the lesser of 2% of amount withdrawn or $25.
- Withdrawals reduce death benefit & may cause policy to lapse. |
|
Loans |
Available after first policy year.
Minimum: $200.
Maximum: net cash surrender value at year-end.
Charge is 6.5%, earning 4%, net 2.5%. |
|
Preferred Loans |
Available at the later of 10 years or oldest insured age 65 at net 0%. |
|
State Approvals |
Not available in MT, NJ, TX, NY, PA, VT. | |
Ameritas Low-Load Survivorship Universal Life Insurance (Form 3165) is issued by Ameritas Life Insurance Corp. It is possible that coverage may not continue to maturity date if policy costs reach maximum guaranteed levels, and premiums continue to be paid at the initial planned premium level.
