Limited Pay (LP) – WL Series 200

Offers all the perks of the Limited Pay – WL Series 100 with the addition of the option to stop premium payments after 20 years. Illinois Mutual's fastest cash value accumulation whole life policy.

LP Series 200 in action

Denise, 29, the owner of a highly successful IT contracting company, recently got married. She and her husband, Nick, live in an apartment and are enjoying their fast-paced lives full of exciting work and stimulating challenges. Denise recognizes the need to purchase life insurance to help protect her husband financially should the unexpected happen. As she and Nick are just starting out in their life together, she is interested in a policy that can grow with them through their future life stages.

Solution:

With the Limited Pay Series 200 plan, for $1991 total monthly premium, payable until age 65, Denise can purchase $175,000 of whole life insurance with the Guaranteed Insurability Option (GIO) Rider added. The GIO Rider gives her the ability to increase her coverage through additional policies of up to $50,000 each at specific option dates, or major life events, without evidence of insurability.

She appreciates being able to tackle each busy day knowing that her life insurance policy can grow with her as her business grows, or when she and Nick buy a home, or when they decide to have children. If Denise has no outstanding loans against the policy, she even has the option to exercise the reduced paid-up (RPU) option after 20 years to stop paying on the original policy while still keeping the death benefit of the original policy intact.

Guaranteed Premium

Payable to Age 65 or 20 years, whichever is longer

Guaranteed Cash Value

Highest early cash values; Cash value equals death benefit at age 100

Minimum Death Benefit

$25,000

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