Discover the Importance of Life Insurance

Yes, an accelerated death benefit rider is available at no cost on all policies. This provides you with early access to a portion of your death benefit if you are diagnosed with a terminal illness, become permanently confined in a qualified nursing facility, develop a chronic illness, or require home health care.

The amounts issued under this rider include the following:

• 90% of your death benefit (not to exceed $300,000) is available if you have a terminal illness.
• 75% of your death benefit (not to exceed $300,000) is available if you become permanently confined in a qualified nursing facility.
• 50% of your death benefit (not to exceed $300,000) is available if you develop a chronic illness.
• 50% of your death benefit (not to exceed $300,000) is available if you require home health care.

Other benefits of the Platinum Eagle policy include

• Guaranteed cash value accumulation
• Non-guaranteed dividends that are scheduled to be paid annually after two years. These can be paid in cash, left on deposit to accumulate interest, or be used to purchase paid-up additional coverage.
• Policy loans available on the accumulated cash value
• A death benefit paid to beneficiaries on a tax-free basis, in most cases

An accelerated death benefit rider is provided on all standard issue policies at no additional cost.  As the policy-owner, you may request a portion of your death benefit if you meet one of the qualifying conditions.

• 90% of your death benefit can be taken in advance if you have been diagnosed with a terminal illness (defined as having less than one year to live).
• 75% of your death benefit is available as a lump sum if you are permanently confined in a qualified nursing facility.
• 50% of your death benefit can be taken if you require home health care; this provides an additional layer of financial flexibility.
• 50% of your death benefit can be taken if you develop a chronic illness, in order to cover medical expenses and other costs.

Golden Eagle is a participating plan, meaning the policy can grow using a non-guaranteed dividend.

Other benefits of the Golden Eagle policy include

• Guaranteed cash value accumulation
• Policy loan availability
• Income tax-free death benefit
• Simplified underwriting

Yes, ELCO Mutual offers both immediate coverage and modified death benefits.

The level benefit is simplified issue, which means you only have to answer a few questions to determine your eligibility. This policy includes face amounts of $2,500-$35,000; an immediate, guaranteed death benefit; and an available single pay life rider to enhance your coverage.

The graded and modified benefits are available if you have certain health conditions that prevent you from qualifying for the immediate coverage. These policies includes face amounts of $2,500-$25,000 and have reduced death benefits during the first two policy years, with the full amount becoming available in the first year.

Funeral Trust

Thinking about the end-of-life process is never easy, but preparing early can eliminate unnecessary stress in the future. As you near the end of your life, nursing home costs can quickly drain your assets. This option allows you to prepare for burial costs while protecting the asset from nursing homes and other creditors.

Estate Trust

After you pass away, your assets can be tied up in probate, leaving your loved ones to cover any final expenses in the meantime. The estate trust enables you to set aside funds that will be delivered to your beneficiaries within 48 hours of your passing, providing relief from these financial pressures.