Vermont Business Magazine National Life Group companies are expanding their suite of living benefits¹ with the addition of Alzheimer’s disease and new fertility riders, which launched January 28.
With more than 6.5 million Americans estimated to be living with dementia of the Alzheimer’s type, these expansions have the potential to support many. 2The average cost of one cycle of in vitro fertilization (IVF) is over $12,000. 3.
Living benefits are supplemental benefits that can be added to life insurance and are not appropriate unless life insurance is also required. Life insurance with living benefits provides protection if you are terminally ill, chronically ill, critically ill, seriously injured, or diagnosed with Alzheimer’s disease or Lewy body dementia. Four.
Ata Azarshahi, senior vice president of National Life Group, said: “These riders add two more ways to our life insurance products to provide peace of mind throughout life. It helps.”
Please see our FAQ for more information. Individuals and Families | National Life.
Adds to a suite of Living Benefits. This rider benefits clients diagnosed with Alzheimer’s disease or dementia with Lewy bodies. Available for all life insurance products, subject to state approval.
Offer couples extra support through one-time cumulative value credits. Subject to state approval, it will be automatically attached to all new eligible FlexLife policies.
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National Life Insurance Company® Life Insurance Company of the Southwest®
National Life Group® is the trade name of the National Life Insurance Company, founded in Montpelier, Vermont, in 1848, the Southwest Life Insurance Company of Addison, Texas, chartered in 1955, and its affiliates. Each National Life Group company is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not a licensed insurance company in New York and does not carry out insurance operations in New York.
The guarantee is dependent on the issuer’s ability to pay claims.
1. Acceleration benefit payments reduce the cash value and death benefit payable under the policy. Receipt of accelerated benefits may be taxable, may affect eligibility to participate in public assistance programs, and may reduce or eliminate other insurance and rider benefits. To determine the tax status of benefits paid under this covenant, please consult your personal tax advisor and social services agency regarding how the receipt of such payments may affect you.
Endorsements are supplemental benefits that can be added to a life insurance policy and are not suitable unless life insurance is also required. Riders are optional, may require additional premiums, and may not be available in all states or all products. This is not a solicitation of any particular insurance policy.
The following Accelerated Benefit Riders (ABRs) are available on a variety of insurance policies and are issued by Life Insurance Company of the Southwest. End of Life Bridge (ABR), Form Series 8052, ICC10-8844. Chronic Illness Rider (ABR), foam series 8095, 8766, ICC10-8844. Critical Express Rider (ABR), Form Series 8165, 20287, ICC15-20287, Form Series 20805, ICC22-20805(0222). Critical Injury Rider, form series 20288, ICC15-20288, form series 20806, ICC22-20806, Alzhemier’s Disease Rider, form series 20818, ICC22-20818 and Fertility Journey Rider, form series 20837.
The following Accelerated Benefit Riders (ABRs) are available in various insurance policies and are issued by the National Life Insurance Company. Accelerated Benefit Rider (ABR) for Terminal Illness, Form Series 7490, ICC10-8843; ABR for Chronic Illness, Form Series 7493, 8765, ICC10-8843; ABR Critical Illness Rider, Form Series 9744, 20285, ICC15-20285, Form Series 20803, ICC22-20803. ABR Critical Injury Rider, form series 20286, ICC15-20286, form series 20804, ICC22-20804, Alzemier’s Disease Rider, form series 20817, ICC-20817, and Fertility Journey Rider, form series 20836.
2. Alzheimer’s Disease Facts and Figures. Alzheimer’s disease and dementia. (n.d.). (2023).
3. Rachel Gurevich, RN (September 18, 2022). How much does one cycle of IVF really cost? Verywell Family.
4. The accelerated benefit payment reduces the cash value and death benefit payable under the policy. Receipt of accelerated benefits may be taxable and may affect eligibility for public assistance programs. To determine the tax status of benefits paid under this covenant, please consult your personal tax advisor and social services agency regarding how receipt of such payments may affect you.
Source: January 30, 2023. Montpelier, Vermont – National Life Group NationalLife.com