Exclusions & Limitations.
Our modified whole life insurance plan can help pay the costs of a funeral and other . The plan offers five levels of coverage: $1,000, $2,000, $3,000, $4,000 or $5,000. As long as your premiums are paid, coverage can never be cancelled by the Company.
Guaranteed acceptance.
If you’re 45-80 years of age, your acceptance is guaranteed, regardless of your health or medical history. In order to guarantee your acceptance, there are limited benefits during the first two years:
For death due to natural causes
- First year: the plan pays reduced benefits equal to 125 percent of all premiums paid
- Second year: the plan pays reduced benefits equal to 125 percent of all premiums paid
For suicide
- First two years: benefits are limited to a return of premium paid without interest (if it is shown you intended suicide when you enrolled for coverage)
- After two years: the full amount will be paid
For death due to an accident
- There is no reduction in benefits, 200 percent of the face amount will be paid
Build cash value over time.
Our modified whole life insurance plan builds cash value that you may borrow against or use however you wish. The longer your coverage is in force, the more cash value you accumulate.
Rates won’t increase as you get older.
The rate you pay is based on your age when coverage starts and will not increase as you get older. Rates can only be changed by class for everyone insured.
Total of all policies limit.
Each insured may own up to a combined total of $25,000 of all policies of this type through Stonebridge Life.
Policy Form: SLGBL1400GC and SLGBL1400IP series. Not available in all states.