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The application form has you list the name and relationship of the
person you select as your beneficiary. You may change your beneficiary
as often as you would like, provided you have not named an irrevocable
beneficiary.
This plan is intended to supplement, not replace, your current
group insurance. It provides universal life insurance coverage and fund
value* accumulation when other employer coverages may terminate at the end of your employment.
Yes. You may increase your face amount at any time (after a 12-month period) with proper evidence of insurability.
Unlike group term life insurance plans that may increase automatically,
this plan remains the same unless you apply for an increase or choose
to add a future purchase option rider that increases your specified
amount each year (up to 5 years) by increasing your premium $1 per week.
*Fund value: This is the term used to
describe the cash portion of your policy. Most of the fund value also
is available to policy owners in the form of policy loans. While this
money accumulates over time, it can be used to offset future premium
costs.
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