Add an overloan lapse protection rider to your life insurance policy
If an overloan lapse protection rider is active on your life insurance policy, you can take loans and withdrawals without fear of your policy lapsing. To activate the rider:
The policy must reach its 15th anniversary
You must be 75 or older
The cash value must be at least $100,000
Policy debt must reach the trigger point (a certain percentage of the policy’s cash value, which varies based on your age)
There is no charge to add this rider to your policy, and there are no periodic charges. When the rider is activated, there is a one-time rider charge, which is a percentage of the cash value based on your age. Please refer to your insurance contract, product prospectus or investment professional for specific details.