Protective Launches Executive 10 Year Term
From Protective:
We are thrilled to announce the official launch of our highly anticipated 2nd Group Term carve out product called Executive 10 Year Term. Click on the link below for a quick video announcement or read further for additional details.
If you have written Ameritas Focus 10 or Principal Guaranteed Issue Term II, now is a great time for a policy review as this product will save the company money.
The Executive 10-year product is designed to help recruit and retain top talent by providing highly compensated employees a better model of insurance offering:
Higher death benefits
Portability
No automatic death benefit reduction at older ages
Key features of Executive 10 Year include:
Traditional term product with premiums level and guaranteed during the 10-year period
In years 11+, premiums increase and move to an ART structure
Maturity age 90
Issue ages: 18 – 70
One rate class: “executive” – tobacco status not in play
Eligibility: Group must have 50 or more employees and cover 15 or more lives
Face Amount Limits:
Minimum: $100,000
Maximum: $5,000,000
Underwriting: Two questions to determine eligibility – same as Executive UL
In the past 90 days, have you actively been at work on a full-time basis?
In the past 90 days, have you missed 5 or more days of work due to illness or medical treatment