United Heritage Life Insurance Company
Final Expense Products
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United Heritage has a great final expense
program to meet the needs of your clients. The Final Expense
market is described as middle to low income, death benefit
needs under $25,000, and those individuals between the ages
of 45-85. Our final expense products are designed to be competitive
in price, quick in underwriting, and pay a great commission
as well. We have two final expense products; Protector Whole
Life and Protector Graded Benefit. Both are simplified issue
type products (Yes/No application-field underwritten). The
PWL/PGB are non-illustrated products so you will not have
to try to explain an illustration to your client. A
rate book, an application, and a prospect are all you need!
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Here are some product specifics for our Final Expense products:
Protector Whole Life
The PWL is a non-participating whole life policy with a level
death benefit. Level premiums are payable until death or age
100, whichever is first. The PWL is a simplified issue plan.
This means there are no medical exams or tests. A competitive
quick issue whole life, you finally found it!
Issue ages: 0-85 (based on last birthday)
Minimum Face - $1,000
Maximum Face - $25,000 through ages 65 - $15,000 ages
66-85
Policy Fee - $30
Premium modes available are Annual, Semi-annual, Monthly pre-authorized
check.
Tobacco/non-tobacco rates
Riders available: Accelerated Benefit Rider (where approved),
Family Term Rider, and Child's Term Rider
Protector Graded Benefit
The PGB has a graded death benefit that pays 30% of face amount
if the insured dies in the first year, and 70% if the insured
dies within the second year. The full face amount will be
paid if death occurs after the second year. Accidental death
within the first two years will constitute a death benefit
equal to the full face amount. The PGB has a level premium
that is payable till 100 years of age or death. There are
no medical exams or tests.The PGB has a more liberal underwriting
criteria than the PWL. Keep in mind that the PGB is not
a guaranteed issue product. It is a great product for those
individuals who need a relatively small face amount combined
with those who may have had some adverse medical history which
may prevent them from qualifying for our PWL product.
Issue ages: 0-85 (based on last birthday)
Minimum Face - $1,000
Maximum Face - $10,000
Policy Fee - $30
Minimum Annual Premium** is $150 ($13/month)
Premium** modes available are Annual, Semi-annual, Monthly pre-authorized
check.
Smoker and non-smoker rates are the same
Riders available: Accelerated Benefit Rider (where approved),
Family Term Rider, and Child's Term Rider
If you would like information about any
of the Products United Heritage has to offer
Contact Us or Locate
an Agent in your area.
**Premiums ordinarily may be paid annually or on a "modal" basis; semi-annually, quarterly or monthly.* The amount of a modal premium is greater than a simple fraction of the annual premium-for example, a quarterly premium is greater than 1/4 of an annual premium. This is because a modal premium includes adjustments for such factors as additional collection costs and the fact that the Company does not receive, and have the use of, the entire premium at the beginning of the policy year.
The difference between the total modal premiums for the year and the annual premium can be expressed in the form of an Annual Percentage Rate (APR). The modal premium APR equates the additional charges for a modal payment to the interest rate on an installment loan.** For example, at the beginning of the policy year, the amount of the "loan" would be the annual premium less the first modal premium.
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