| CUNA Life Insurance Company is a division of the | | | | be over the age of fifty, and the covered child |
| CUNA Mutual Group, which offers a variety of | | | | cannot have reached the age of seventeen. The |
| financial and insurance services to credit unions and to | | | | maximum benefit payable under this rider would be |
| individuals. The CUNA Mutual Group currently holds | | | | ten thousand dollars. When the insured child reaches |
| about 15.26 billion in assets and employs around 5,500 | | | | the age of 23 the rider will convert to a permanent |
| members. The life insurance division of the company | | | | life insurance policy and no proof of insurability will be |
| offers two types of insurance- Whole Life and Term. | | | | required by the child. In the event that the parent |
| All policies are underwritten by CUNA Mutual | | | | dies before the child reaches the age of 23, then the |
| Insurance Society which is a Fortune 100 company | | | | rider will convert to a paid in full term policy that will |
| and has received an AA- rating for claims paying | | | | remain in effect until the child reaches the age of 23. |
| ability. | | | | Unlike their term insurance offerings, CUNA's whole |
| CUNA Whole Life Insurance | | | | life insurance will cover you until you reach the age of |
| If you are a member of the CUNA Mutual Group, | | | | 100. At this point the entire face amount of the |
| you and your spouse can qualify for life insurance | | | | policy would be paid to the insured. Death benefits |
| without the hassle getting a physical exam during the | | | | are paid to the named beneficiary in the event of |
| application process. Other advantages are that your | | | | the insured's death. Your premium amounts will |
| benefit amounts are guaranteed to remain the same | | | | remain level for the policy's lifetime. If at any time |
| as are your premium payments; the death benefits | | | | you want to review the terms and conditions of the |
| are tax free; and a member spouse can purchase a | | | | life insurance policy you can call their toll free number |
| policy even if the member doesn't have one. | | | | and a one page summary will be mailed to you. CUNA |
| A life insurance policy with CUNA provides your | | | | also makes changing your beneficiary a simple task, all |
| family with long term financial security. As with all | | | | you have to do is call their customer service number |
| permanent life insurance policies cash value | | | | and request a form. |
| accumulates as you remit premium payments. As a | | | | CUNA Term Life Insurance |
| policy holder, you have the ability to borrow against | | | | CUNA also provides term insurance to cover your |
| the buildup in your cash value should the need ever | | | | family for a specified period of time only. There is no |
| arise. CUNA life insurance does not require the insured | | | | accumulation of cash value, however all death |
| or the beneficiary to pay back the loan. If the insured | | | | benefits are tax free. CUNA's term insurance is |
| member dies the benefit payment would be reduced | | | | designed to offer protection of your family's assets |
| by the loan value, or in the event that you cashed in | | | | at the various stages of your life. These policies are |
| your policy, the loan amount would just be | | | | usually purchased during the times that children are in |
| subtracted from your payout. | | | | college, when new mortgages are assumed, or during |
| CUNA Supplemental Benefits | | | | any time when your family faces a large amount of |
| CUNA Life Insurance Company also offers a wide | | | | debt in the event of your death. |
| selection of supplemental benefits that you can | | | | CUNA offers term policies in for level premium terms |
| purchase along with your main life insurance policy. | | | | of 10, 15, 20 or 30 years. Level premium means that |
| Their waver of premium benefit must be purchased | | | | your premiums will remain the same for the life of |
| before the insured reaches sixty. It will provide a | | | | the policy. The minimum amount of coverage |
| waiver of any premiums due (until age 100) if the | | | | available is 25,000 and the maximum amount is one |
| insured is totally disabled before the age of sixty. If | | | | million. CUNA will allow these policies to convert over |
| the insured is totally disabled after the age of sixty, it | | | | to permanent life insurance policies as long as the |
| will provide a waiver of benefits until the insured | | | | conversion is done before the end of the term or |
| reaches the age of sixty-five. | | | | before the insured reaches the age of seventy. |
| CUNA's accidental death benefit rider allows an | | | | There are two riders that can be purchased with |
| additional payout if the insured dies from an | | | | your level term insurance. The first is their other |
| accidental bodily injury. The amounts vary in | | | | insured rider, which allows you to insured up to 9 |
| accordance with the age of the insured and will max | | | | other people under your policy with no additional |
| out at 150,000. This rider is not available for any | | | | policy fee being charged. The next is the waiver of |
| insured over the age of seventy. | | | | premium rider which will waive premium payments for |
| The guaranteed insurability rider offered by CUNA | | | | the remainder of the term if the insured is total |
| provides that the insured will be eligible to purchase | | | | disabled and has not reached the age of sixty. If the |
| additional insurance benefits on specified anniversary | | | | insured has reached the age of sixty, then the |
| dates, without providing proof of insurability up to | | | | premium amounts will be waived until the insured |
| the age of thirty-seven. To exercise the benefits | | | | reaches the age of sixty-five. |
| provided by this option the insured must have also | | | | CUNA Life Insurance offers its members strong |
| purchased a waiver of premium rider. | | | | financial backing for its wide variety of life insurance |
| CUNA life insurance's children's rider insures the lives | | | | policy options. You can rest assured that in the event |
| of the policy holder's children up to the age of | | | | of your death your family is well provided for. |
| twenty-three. To obtain this rider the parent cannot | | | | |