Term Life Policy Pays Monthly Income.Zurich Kemper Life, Long Grove Long Grove may refer to:
The new product, Zurich Kemper Secure-T, offers ongoing monthly income for a specified time, ranging from 10 to 30 years. Should the beneficiary beneficiary Person or entity (e.g., a charity or estate) that receives a benefit from something (e.g., a trust, life-insurance policy, or contract). A primary beneficiary receives proceeds from a trust or insurance policy before any other. die before the payments end, the remaining payments are made to his or her estate. Part of the monthly income benefit will be taxed as ordinary income in the year the payments are received. Secure-T is designed to eliminate the problem of investing a large, single lump sum Lump sum A large one-time payment of money. at a difficult time in the life of a beneficiary, said Ken Sapp, president of Life Brokerage, the Zurich Kemper Life division that distributes the new product. The product design calculates the premium based on the lump sum plus the monthly payments. For producers, this design helps focus the prospect n need and eliminates objections regarding high face amounts, the company said. Six underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. classes are available, ranging from standard tobacco to premier nontobacco. Minimum face amounts are $100,000 for the lump sum and $500 in monthly payments for issue ages 18 to 49 and $50,000 and $500, respectively, for issue ages 50 or higher. The lump-sum benefits are convertible to an eligible cash-value life policy before the 20th policy anniversary or the anniversary nearest the insured's 70th birthday, whichever comes first. Other features include a dependent children's rider, a waiver The voluntary surrender of a known right; conduct supporting an inference that a particular right has been relinquished. The term waiver is used in many legal contexts. or premium rider and an accelerated death benefit for the terminally ill Terminally Ill When a person is not expected to live more than 12 months. Notes: Any gifts given out by the afflicted person at this time may be considered as a dispersion of the estate rather than a gift. . For a 40-year-old male in the premier nontobacco class, a lump-sum death benefit of $100,000 and monthly payments of $2,000 a month for 10 years would cost $218 a year. As of mid-August, the product was approved in 32 states. |
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