New Century Classic Whole Life is whole life insurance with a level death benefit and level premiums payable to age 121. This policy is available in face amounts of $25,000* to $10,000,000. The following riders are available:
- The Accelerated Benefit Rider allows the policyowner to elect to receive a 50% advance on the base policy death benefit when the insured is diagnosed with a terminal condition and a life expectancy of 12 months or less. Receipt of the accelerated death benefit may affect eligibility for public assistance programs and may be taxable.
- The Accidental Death Benefit Rider provides additional coverage for accidental death.
- The Children's Level Term Insurance Benefit Rider provides level term insurance on all eligible children to age 25, including natural born children, stepchildren and legally adopted children of the insured. Children becoming eligible after the rider is issued are automatically covered as long as they are within the issuable ages.
- The Waiver of Premium Rider waives premiums if the insured is totally disabled for six months or more.
- The Other Insured Ten Year Renewable Level Term Rider provides term coverage to age 70 for up to three additional applicants.
- The Ten Year Renewable Term Insurance Rider provides level term coverage to age 70 on the primary insured.
*Minimum issue amount is $35,001 in New York.
This describes Policy/Rider Form Nos. 1F153, 1F153-CL, 1H870, 1H870-CL, 1H871, 1H871-CL, 1H872, 1H872-CL, 1H873, 1H873-CL, 1H874, 1H874-CL, 1H875 and 1H875-CL or state variation. Product specifications and availability may vary by state.