Whole Life

Whole Life insurance offers level premiums and life insurance protection for as long as you live, provided that premiums are paid as required to keep the policy in force. Med Guardian offers three types of whole life coverage: Simplified Whole Life Insurance Portfolio, Whole Life Insurance, and Single Premium Whole Life Insurance.

Simplified Whole Life Insurance Portfolio

Simplified Life portfolio features a combination of three policies from which the proposed insured would qualify for or be issued one contract. The policy is issued based on answers to health questions on the application.

Simplified Level Benefit Whole Life Policy
The policy is issued based on answers to health questions on the application.
To be considered for the Level Death Benefit plan, all questions on the application must be answered “no.”

Issue Ages: 0-80

Issue Limits:
Face Amounts $10,000 – $50,000
Ages 0-14: Male/Female – Select Non-Tobacco
Ages 15-19: Male/Female – Select Non-Tobacco, Tobacco
Face Amounts $5,000 – $50,000
Ages 20-65: Male/Female – Select Non-Tobacco, Tobacco
Face Amounts $5,000-$25,000
Ages 66-80: Male/Female – Select Non-Tobacco, Tobacco

A Simplified Graded Benefit Whole Life Policy may be the appropriate choice for applicants who cannot answer “no” to all questions on the application.

Issue Ages: 40-80

Issue Limits:
Face Amounts $5,000 – $35,000
Ages 40-65: Male/Female – Select Non-Tobacco, Tobacco
Face Amounts $5,000 – $25,000
Ages 66-80: Male/Female – Select Non-Tobacco, Tobacco

For those whose health history has made it difficult to qualify for any coverage, the Simplified Modified Benefit Whole Life Policy may be an option.

Issue Ages: 40-80

Issue Limits:
Face Amounts $5,000 – $25,000
Ages 40-80: Male/Female – Select Non-Tobacco, Tobacco

Whole Life Insurance

Whole Life is a level benefit, participating whole life insurance policy with level, guaranteed premiums through maturity at age 121. This product is ideal for individual and business planning needs and can provide solutions for estate planning, charitable giving and business continuation.

Issue Ages: 0-85

Issue Amounts:
Premium Band I: $10,000-$99,999
Premium Band II: $100,000-$249,999
Premium Band III: $250,000+

Underwriting Classes:
Male, Female
Preferred Plus Non-tobacco, Preferred Non-tobacco, Select Non-Tobacco, Preferred Tobacco, Standard Tobacco

Comes with two riders for no additional premium and 10 optional riders.

Single Premium Whole Life Insurance

For an older individual interested in buying a guaranteed death benefit with a single payment. Creates a modified endowment contract but if held until death there is no adverse tax impact. Alternative to taxable fixed investments. True single-premium purchase with guaranteed contract maturity. Lowest cost permanent life insurance per thousand. Can purchase additional coverage within the first six months, if underwritten at initial application. Ideal for those who want to leave an estate but don’t want to budget premiums into current lifestyle

Issue Ages:
Non tobacco: 0-80
Tobacco: 16-80
(All applications submitted as non-medical)

Minimum Face Amount:
$10,000 for issue ages 0-54
$5,000 for issue ages 55 and older