Issue Ages: 0 to 85 (Age Closest Birthday Method)
Minimum Face Amount at Issue
• Issue age 0 to 17 = $25,000
• Issue age 18 to 85 = $15,000
• GCU Irrevocable Life Insurance Burial Trust – Issue age 50 to 85 = $7,500
As a Fraternal Benefit Society, GCU’s mission is to provide the maximum possible benefit to its members, while maintaining the financial security of the organization. As a result, you will typically see greater coverage per premium dollar.
GCU’s Ordinary Whole Life Plan has the benefit of:
• A fully underwritten plan, with easy underwriting based on net amount at risk.
• The ability to generate a lower initial death benefit amount.
• Can be used for Final Expense Planning.
• Eligible for use with the GCU Irrevocable Life Insurance Burial Trust.
• Excellent ratio of "cost per dollar of coverage".
While premiums are payable for the life of the insured, the GCU Ordinary Whole Life contract gives you the best coverage per premium dollar. By using the Burial Trust, you can help you client plan for Final Expenses, and bypass the Medicare Spenddown look-back period.
GCU underwrites based on the “net amount at risk”, meaning that lower face amount issues will most likely have a simpler underwriting process than a higher net amount at risk.
(Terms of Service and sale are subject to change)