National Life Group expands suite of living benefits, adds Alzheimer’s and a fertility journey rider
February 6, 2023 by National Life Group
The companies of National Life Group are expanding their suite of living benefits ¹, adding Alzheimer’s Disease and a new fertility journey rider, that began on January 28.
These expansions have the potential to support many, as more than 6.5 million Americans are estimated to be living with Alzheimer’s dementia 2, and the average cost of one in vitro fertilization (IVF) cycle is more than $12,000 3.
Living Benefits are supplemental benefits that can be added to life insurance and are not suitable unless you also have a need for life insurance. Life insurance with living benefits could provide protection if you experience a qualifying terminal, chronic, critical illness, critical injury or a diagnosis of Alzheimer’s Disease or Lewy Body Dementia 4.
Click HERE to read the full story via Vermont Business Magazine
Wink’s Note: Many of you don’t know that “The Hottest Man Alive” (per me, Sheryl.) and I went through a decade of failed in vitro, back in the early 2000’s.
It is that journey, that got my attention when I read this press release.
It seems that National Life Group has been innovating when it comes to its life insurance riders.
You can now get living benefits for ALS/Lewy Body Dementia on any National Life life insurance product.
Plus, the company has rolled out a feature for fertility efforts on FlexLife IUL, which will provide for a one-time, lump-sum “Accumulation Value Credit.”
Don’t worry- I did what I always do at Wink, Inc., and pulled the regulatory filings. Turns out a “Accumulation Value Credit” is equal to “a multiple of the greater of the initial Minimum Monthly Premium and the Minimum Guaranteed Premium, if any, which are listed on the base policy’s data section. The multiple will be the same for every policy issued, and if [National Life] increases or decreases it in the future, it would apply to all policies issued going forward. The multiple will be between 3 and 12.”
I hope that is described in simpler terms in the marketing materials!
(Note that these new riders are subject to state approval.) -sjm