Final Expense -
Royal Neighbors of America
Simplified Issue Whole Life Product
Face Amounts
Simplified Issue Whole Life: $5,000 - $25,000
Graded Death Benefit: $5,000 - $10,000 allowed at any time, subject to underwriting requirements
Issue ages 50-85 (age last birthday)
Loans
Certificate owners may borrow against the cash value of the certificate
8% interest rate in arrears; 6% in Montana
Automatic premium loan option is available
Risk Classes
Male/Female (premiums quoted for Montana application must use male rates for both male and female applicants)
Tobacco/Non-Tobacco
No Substandard
No Preferred
Riders
Accelerated Living Benefit - Terminal Condition and Permanent Confinement (Form Series 1766)
Rider available age 50-85
Must be issued at the time of application
No additional premium for the rider (in states where rider is approved)
Qualifying Events:
When the insured has been continuously confined to a nursing home for 90 days and the physician-certified confinement is expected to be permanent.
When the insured is diagnosed by a physician as having a terminal condition and has a life expectancy of 12 months or less.
Available on face amounts of $7,000 or more
Up to 75% of eligible death benefit can be accelerated (minimum $5,000 maximum in aggregate of all certificates of $250,000) as a single payment
An accelerated benefit payment is subject to an administrative fee and interest; review the rider for complete information and provisions
Rider not available in all states; contractual provisions may vary by state.
