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Riders and Programs for Variable Universal Life Insurance

How can you tailor a life insurance policy to meet your unique needs?

You add something extra to it − like an optional rider or program. Riders and options offer additional coverage and protection on select life products at an additional charge.

Accelerated Benefit rider

This rider pays out a portion of the death benefit if the insured person is diagnosed with a terminal illness.

Accidental Death Benefit rider

This rider pays an additional amount on top of the regular death benefit if the insured person dies in an accident.

Additional Term rider

This rider provides additional term coverage on the insured person. The amount of additional protection coverage you can buy depends on the amount of the base policy coverage. Please refer to your insurance contract, product prospectus, or investment professional for specific details. Your investment professional can answer your questions and provide you with illustrations showing the impact of purchasing coverage under the rider.

Adjusted Sales Load rider

This rider lets the policy owner defer the usual sales load charge and spread it out over a selected number of years.

The rider must be elected when the policy is issued. The rider cost increases with the amount of sales load that is deferred. Please refer to your insurance contract, product prospectus, or investment professional for specific details. Your investment professional can answer your questions and provide you with illustrations demonstrating the impact of purchasing the rider.

Change of Insured rider

This rider allows the policy owner to change the insured on the policy while it's in force. This is usually used by businesses that insure a key person and may want to switch the insured when an employee is replaced.

It's important to note that changing the insured may cause a taxable event for the policy owner. Neither the company nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.

Child rider

This rider pays a benefit upon the death of the children of the insured person.

Long-term Care rider

This rider lets the policy owner take part of the death benefit to pay for nursing home care and home health care of the insured person, while still leaving at least a partial death benefit to the beneficiaries. The long-term care benefit is paid whenever qualifying conditions and the 90-day waiting period, known as the elimination period, are met. Benefit payments under this rider reduce the policy's death benefit.

If the insured never needs long-term care, the beneficiaries receive the full death benefit as they would with any typical life insurance policy. Read more about the Long-term Care rider.

Overloan Lapse Protection rider

If this rider is active on a policy, the policy owner can take loans and withdrawals without fear of the policy lapsing. To invoke the rider:

There is no charge to add the rider to a policy, and there are no periodic charges involved. When the rider is invoked, there is a one-time rider charge, which is a percentage of the cash value based on the insured's attained age. Please refer to your insurance contract, product prospectus or investment professional for specific details.

Premium Waiver rider

If the insured person becomes disabled, the monthly premium due on the policy is waived during the disability, after a six-month elimination period is met.  This rider may terminate when the base policy expires or the insured reaches a certain age. Please refer to the prospectus or the insurance contract for details about this rider.

Spouse rider

This rider provides level term insurance on the insured's spouse. It can be converted to its own whole life policy at certain times and within certain age limits. This rider will terminate when the base policy ends or the spouse reaches a certain age. Please check the insurance contract for specific details.

Waiver of Monthly Deductions rider

This rider pays all monthly deductions while the insured person is disabled. It doesn't pay the full premium, just the monthly deductions, and it won’t add to cash value.

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