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Products / Life Insurance / Term Life / Customize Your Policy

Accidental Death Benefit Rider

Not available with Return of Premium Term

This rider, which is automatically included with Path Protector Plus™ Term Life if the insured meets underwriting guidelines, provides a death benefit to the insured’s beneficiaries if the insured’s death results solely from accidental bodily injury as defined in the rider. The included Accidental Death Benefit amount is the lesser of 10% of the policy’s Amount of Insurance or $250,000. The rider ends on the policy anniversary on or after the insured's 61st birthday.

Policy Form 5783

Accidental Death Benefit coverage in addition to what is already included with Path Protector Plus™ Term Life may be purchased if the insured meets underwriting guidelines.

Issue Ages

  • 18 to 60

Child Term Insurance Rider

The Child Term Insurance Rider provides level term insurance on the insured’s children named in the application and children at least 15 days old born to or adopted by the insured while the policy and rider are in force.

Policy Form 5789

Issue Ages

  • Insured age 18 to 70
  • Children ages 0 to 18

Coverage extends until the first policy anniversary on or after the child’s 25th birthday or, if earlier, the first policy anniversary on or after the insured’s 71st birthday.

Conversion

At any time prior to the child’s 18th birthday, his or her coverage may be converted, without evidence of insurability, to an individual policy with coverage up to the rider coverage amount. After the child’s 18th birthday, if his or her coverage has been in force for two years, the coverage may be converted, without evidence of insurability, up to the lesser of five times the rider coverage amount or $50,000. The child’s coverage under this rider ends upon conversion.

Conversion Option

Not available with Return of Premium Term

Path Protector Plus™ Term Life is fully convertible during the entire conversion period, which begins on the issue date of the policy and extends through the earliest of the initial term period, the 20th policy year or age 70. Insurance may be converted to a permanent life policy by the owner while the policy is in force during this period.

Disability Waiver of Premium Rider

Not available with Return of Premium Term

This rider waives policy premiums, including rider premiums, during the covered insured’s Total Disability.

Policy Form 5785AC(R)

Issue Ages

  • 18 to 60

Total Disability or Totally Disabled means, during the first 24 months, that the insured, due to sickness or injury, is unable to perform the substantial and material duties of his or her occupation. After 24 months, Total Disability or Totally Disabled means that the insured, due to sickness or injury, is unable to perform the substantial and material duties of any job for which he or she is or may become reasonably suited by education, training, or experience.

The waiver benefit begins after a six-month elimination period is satisfied and all conditions are met.

If the insured’s Total Disability begins before the policy anniversary immediately preceding the insured’s 60th birthday and continues to the first policy anniversary on or after the insured’s 65th birthday, the waiver benefit is provided until the policy is surrendered, is canceled, or terminates for any reason.

If the insured’s Total Disability begins on or after the policy anniversary immediately preceding the insured’s 60th birthday, the benefit is provided until the earliest of: a) The date the insured’s Total Disability ends; b) The policy anniversary occurring while the insured is age 65, or the Rider Expiry Date, if later; or c) The date the policy is surrendered, is canceled, or terminates for any reason.

Other Insured Term Rider

The Other Insured Term Rider provides level term insurance on someone besides the primary person insured under the base policy while the policy and rider are in force. This rider typically is used to cover a spouse or domestic or civil union partner. Death benefits start at $50,000 but cannot exceed the base policy amount.

Policy Form 5787

Level Term Lengths

10 Year, 15 Year, 20 Year, 25 Year, 30 Year; term length availability will vary by age

Issue Ages

  • 18 to 75

Convertible

Coverage may be converted, without evidence of insurability, to an individual, permanent (whole life) insurance policy during the conversion period specified in the rider. Conversion not available with Return of Premium Term.

Renewability

Renewable until the earlier of the base policy’s expiry date or the Other Insured’s Age 95. Rates increase annually after the level term period.

Terminal Illness Accelerated Death Benefit Rider

Automatically included with Path Protector Plus™ Term Life is Illinois Mutual’s Terminal Illness Accelerated Death Benefit Rider, which allows you to accelerate payment of life insurance proceeds when a licensed physician diagnoses the insured with a medical condition that is expected to result in death within 24 months (12 months in FL).

Policy Form 5786

The amount available for acceleration may not exceed the lesser of the following:

  • 75% of the policy’s Amount of Insurance; or
  • $500,000

The minimum accelerated benefit payment is $5,000.

Certain charges accrue when an Accelerated Death Benefit is paid. Once you accelerate the death benefit, a lien is created that reduces (and may terminate) the policy’s death benefit and the cash available for loans, withdrawals, and nonforfeiture options. Interest on the lien continues to accumulate if not repaid. Only one benefit may be paid during any 12-month period. Refer to the appropriate rider form for your state for full disclosure of terms.

Payments made under this rider are intended to qualify for favorable tax treatment under the Internal Revenue Code. However, benefits may be taxable. You should consult a qualified tax advisor prior to purchasing the policy.

Accelerated Death Benefit Payments may affect eligibility for or the amount of certain state or federal government benefits such as Medicaid or Supplemental Security Income (SSI). This rider is not intended to be a substitute for long-term care insurance, health insurance, or nursing home insurance.